I love working on brands: helping create them, establish them or reinvent them. The reason I find it so satisfying is that a strong brand makes such a difference to a business. Here are my ten best reasons to build a strong brand:
Everyone knows what to expect
If your brand is built on the foundations of a well-defined vision and clear values, then everyone – the customers buying from you, the suppliers serving you, the employees representing you and the communities surrounding you – will know what it stands for and what it means to them.
It sets you apart from the competition
Your brand proposition reflects what’s different and special about your business, so customers will understand why they should buy from you instead of the competition.
It inspires loyalty
Behaviour that reflects your brand proposition will generate trust, which leads to loyalty. Loyal customers keep buying and loyal employees go the extra mile.
It’s easier to sell – and cross sell – your products and services
Customers who trust your brand will expect any product or service you offer to conform to the same standards, so they’ll be more willing to try something new from you.
It’s easier to enter a new market
Your brand reputation will help you get a foothold in a new market, so long as your proposition can be translated and communicated effectively to the new audience.
It’s easier to build strategic relationships
Companies want to work in partnership with other companies that share their values and many aspire to be associated with a strong brand.
You negotiate from a stronger position
A brand that knows what it stands for and who its target audience is will have a stronger hand in a negotiation. A really powerful brand might hold all the cards.
You’re more likely to be forgiven
When things go wrong, as they sometimes will, your brand reputation will go some way to saving you (and a response in line with your values will do the rest).
You can attract the right employees
People are happier working for a company whose values match their own. A strong brand will attract the right talent, improving recruitment success and employee retention.
It makes your business more valuable
Your brand is potentially the most valuable asset your business has. The stronger it is, the more your business is worth.
If you would like to discuss your brand and where you are on the journey, please contact me.