Branding

How important is your brand?

All these years working on branding and marketing, the word ‘brand’ is the most commonly misunderstood. While getting your logo and name right is no doubt an important exercise, your brand is much more than just that. In fact, in the future when you come to sell your business – it is your company’s brand where most of the value is extracted.

 

Developing a clear, well thought out brand strategy will grow your business. So, what is a brand strategy? It is the process of developing clarity of who you are and the perception you want to create amongst your target customers. It encompasses all aspects of the company – products, capabilities, culture, history, client experiences etc. It is about differentiation and making sure you stand out from the competition. This helps your target clients make better buying decisions about why they should choose your company’s product or service above a competitor’s.

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A brand is the cumulation of all the touch points and the perception that is created in your customer’s head. Marketing is the activity that builds your brand’s visibility – it needs to be consistent otherwise people won’t get it.  So, it is important from the outset that you are clear -before you start on any marketing activity- about what your brand stands for and what you are trying to communicate.

 

How to get clear about what your brand stands for? We work with our clients to build a strong brand platform around differentiation, so that there is consistency in communication and your business stands out in the market.

It is worthwhile to spend time thinking about the factors that differentiate your company.

When it comes to differentiation three principles apply:

-    Is it real– something that your business can deliver on?

-    Relevancy – there is no point in promoting a difference that your customer doesn’t value?

-    Can it be substantiated – you need to provide examples of this otherwise it exists in your own head?

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A well thought out and consisted brand strategy drives trust and belief that potential clients need in order to make the decision to purchase and engage your company.

In summary, a strong brand delivers the following:

1)    Attracts good clients – repeat clients, they refer other clients to you, pay their bills on time and more….

2)    Enables you to charge premium prices

3)    Attracts the right employees – you can’t deliver good work without good people.

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