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Brand credibility measurement: A new measure for brand equity/brand value: Part 1
A company's brand credibility is an important measure that should determine the value of the company, replacing the goodwill and other similar brand equity measures that are too nebulous to measure. ‘Brand credibility’ is more specific because ‘credible’ means ‘expertise’ and ‘trust’ — traits that can be measured. More importantly, being credible is also the key to persuasion in supporting important company messages, while ‘goodwill’ is only a part of the persuasion process. The premise for brand credibility measurement is based on how we persuade in all communication — interpersonal, company to person or company to company. The premise for brand credibility is based on the familiar communication persuasion model: credible source > message > channel > receiver. The source must be credible if the purpose is to persuade. The more credible the source, the more likely the persuasion-based message will be accepted. This paper explores credibility principles in communication persuasion, introduces credibility-based logo design, reviews the extension of credible logos to all branding elements to achieve brand credibility, compares branding measures, reviews what ‘the totally credible company’ means, and summarises findings leading to the premise that brand credibility is a viable management strategy and a better measure of brand equity. The author also compares credibility-based logos with non-credible logos. The findings support the hypothesis that credibility-based logos will induce higher conversion rates, and these are important in supporting company messages, leading to product and service purchases. The company logo credibility traits can be extended to the creativity of all branding elements. Consistency in credibility-based branding is also important in order to achieve an image of brand credibility. This is Integrated Brand Credibility Promotion. Therefore, how much credibility a company has achieved with consistent Integrated Brand Credibility Promotion is the proposed measure of brand equity. The implications involve developing a credibility based brand strategy. Companies must establish company-defined credibility traits, both verbal and visual and should commission designers to develop company logos and other visual and/or verbal and credibility based branding elements. Then, the basic brand management premise of consistency as Integrated Brand Credibility Promotion should be applied to all branding elements as a unified communication expression of the company's desired credibility traits in order to achieve a clear recognition of the company's unique brand image or brand credibility. Part 2 of this paper will be published in Journal of Brand Strategy Volume 4 Number 3.
The full article is available to institutions that have subscribed to the journal
Bill Haig has worked in logo design and branding for over 50 years, including a top management position with logo design legend Saul Bass. His education includes a BA in psychology from UCLA in Los Angeles, CA, an MA in communication (with scholastic honours) at the University of Hawaii, and a PhD in organisational change at Southern Cross University, Tweeds Head, Australia. Bill teaches logo design and branding strategy for HOW design magazine online. He has written a best-selling book with L. Harper, ‘The Power of Logos: How to Create Effective Company Logos’ (John Wiley, 1997) and an ebook, ‘Experts’ Guide to Logo Design and Branding’ (HOW Magazine, 2014), and numerous articles on the subject.