Benefits of Having a Strong Brand
The benefits of having a strong brand – one that clearly defines your business, distinguishes your firm from its competitors, and appeals to members of your target audience – are undeniable no matter what the state of the economy. But, in today’s difficult market, the benefits of a strong brand are especially significant because they give your business a critically important competitive edge.
Not convinced? Just consider some of the important ways that having a strong brand can help your firm. This assumes of course that people’s actual experiences with your business match the expectations they have for it based on your brand.
• Members of your target audience will be more apt to associate your firm with the specific intangibles your brand conveys – intangibles that are important to them. As a result, they will feel good about doing business with you. Those intangibles might include good value, reliability, success, luxury, hipness, social consciousness, liberal thinking, conservative thinking, creative, upper class, and so on.
• Your brand will help foster an emotional relationship between your firm and members of your target audience. This relationship will make them more inclined to do business with you and to remain loyal to your firm, which means that they are more likely to provide you with repeat business.
• Members of your target audience will be more apt to spend money with your business rather than with one of your competitors. This will be true even if your services cost more.
•Your brand will help reduce the amount you must spend on marketing because your firm will be a known quantity to members of your target audience. Therefore, you will not have to work as hard to sell your services to them.
A powerful brand is an invaluable asset that every business, no matter what its size or industry, should build and maintain. So how do you create yours?
In a greatly simplified nutshell, you define what you want your business' brand to be, you develop a marketing program which focuses on building and sustaining that brand, and you make your brand the touchstone against which you judge everything you do (or are considering doing). In other words, you ask yourself, "Is what I am doing helping my brand or undermining it?" and "How will what I am thinking about doing affect my brand?"
Bottom-line, everything your business does should help support your firm’s brand, including your:
• Logo and type face
• Web site design and copy
• Printed pieces
• Public relations efforts
• Social media campaigns
• Employee training
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