How To Build A Brand in 2024?

So I want to talk about what does it take to build a brand. People come to me all the time saying, "Oh, I have a brand." You can't build a brand; your customers build the brand. They're the ones that gift you the value and the equity of a brand.

So what does that mean? It means they try your product or service, they like it, they buy it again, and they tell their friends about it. They say, "You got to try this product or service." That's when the brand starts to have value.

Let's have a look at some brands. Look at product all around the world. That's huge over there: PCH, Philippe, and Rolex just down the way. Saor Wron, Givency—are you kidding? Monclair—these brands are known all around the world. But it took decades, if not hundreds of years sometimes, to build them up. You can't do it overnight.

Prada means fashion, and everybody knows what a Prada suit is, or their shoes, or whatever else. Think about Rolex or Patek Philippe—yeah, it's the same thing. That's almost 200 years old now.

So when you think about brand, that's the most valuable thing you can create. But it's your customers that do it for you. The most powerful element of a brand is not the dollar spent on advertising; it's one customer telling another about how much they like your product, your service, and how you support them.

And how you communicate directly with them and what it means to them to be part of your community—that's brand building.