Your brand is one of your company’s most valuable assets. It communicates what you do, what you stand for, what your values entail, what your personality is, and it shapes consumers’ perception of who you are as a company. Strong brands are built on trust, credibility and authenticity. How do you build your brand? You build it through through consistent messaging, quality products and services, and outstanding customer service in delivering the brand promise. Here are seven reasons why a strong brand is so central to your company’s success
A strong brand helps shape consumers’ perception of your company. It communicates what you do and offer, what you stand for and what your values entail. A strong brand will come through in every one of your company’s customer journey touchpoints. When you have a strong brand identity, customers will recognize you and associate your brand with your products and services.
A strong brand helps your company withstand lean times, as it builds customer loyalty and can bolster your ability to weather downturns in the overall economy and market fluctuations. During uncertain times, customers are more likely to remain loyal to a trusted brand.
A strong brand gives your employees pride and confidence in the longevity of your company. Your employees are one of your company’s most important stakeholder groups. Consistently delivering on your internal brand promises is central to attracting and retaining talented team members.
A strong brand helps executives chart the company’s future course. A strong brand is your company’s North Star – it guides decisions that lead to long-term growth and success, and are aligned with your core business competencies.
A strong brand rises above its competition. It allows you to dictate pricing. A strong brand can also help you to gain market share from your competitors.
A strong brand conveys confidence to investors. It demonstrates that you have earned ongoing customer loyalty and command a solid and distinct place in the market.
A strong brand helps you define what you are NOT as well as what you are. No brand can be all things to all people. By honestly defining what are not in your core competencies, you are able to turn your full attention to what you do well and grow your business in a strategic manner.
As one of your company’s most valuable assets, your brand promise and identity speaks to the essence of who you are and what you do. It is much more than a logo or a catchy tagline. It is the heart and soul of your company and is central to your growth and success.