Posted On: 12th September 2012
What do you consider to be the most valuable asset in your business? Your product? Your service? Your people? In fact, all of these contribute. However, the strongest asset you have at your disposal is the strength and power of your brand.
Your brand is the glue that binds everything together; it is the place employees will go to for reassurance, where prospects will research when looking for a new supplier and why customers will work with you.
There are actually several reasons why a business, large or small, should create a powerful brand, but I believe these are FIVE of the best reasons below as to why branding is THE POWER for the success and survival of any business.
1. Branding creates strong connections:
Business principals need to be aware that good branding is actually a good method of communication - create a clear, unique connection then trust is established and customers become long-standing clients.
2. A strong brand delivers business credibility:
Businesses know credibility is not developed overnight - supporting a brand with authority, clear messaging and consistent communications right from your font, your website, your email boilerplates etc adds credibility, and authority to your brand.
3. Branding makes the buyer buy:
Develop the connection between your product and your client through a strong brand, and in-turn they will continuously purchase the products or services. Your products will have life cycles, but your brand will out-stay your product.
4 Brands are valuable:
The value of your brand will often be on your balance sheet. In a world where M&A activity is crucial to realising the value of a business, your brand is a key measurement. Across our region, take the case of Kraft when they purchased Cadbury - it was the power of the brands they purchased.
5. Make your brand memorable:
Branding is a very powerful element in business, have a strong, powerful logo to make your brand message easier. Your customers will ultimately decide if they will buy a product, and the qualities of the product or services are ensured through the customers’ minds from the brand image you portray.
The power of branding should never be underestimated; it is what establishes the all-important connection between your business and your customers. Your brand is what will keep customers coming back for more.