What’s the Value of a Strong Brand?
Building a strong brand is a commitment. It’s takes time, consistency, creativity and some financial investment. So why bother? Four reasons.
I believe that one of the most important gifts a small business owner can give him or herself is the ability to stay focused. A strong, clearly defined brand helps you capture and maintain that focus by:
- Helping you market to the right people — the ones who value your “brand promise,” or the unique thing your company can deliver;
- Helping you attract the right employees who fit in with your company culture; and
- Making daily decisions on what opportunities to pursue to grow your business.
A strong brand is like a filter that you can run your strategic decisions through. It sifts out the distractions. For every Business Owner decision you face, ask yourself does this initiative help support or strengthen our brand? If the answer is “No” or “Well, maybe,” then don’t do it.
2. Distinction. A strong brand cuts through clutter. When you brand is clear, consistent, targeted, and memorable it helps your marketing message cut through all of the clutter online. If you haven’t noticed, there’s a lot of it these days.
3. Confidence. Confidence gives you the power to act. You can propel your business forward by taking action. Not doubting yourself. Defeating analysis paralysis. Knowing what your company stand for, which type of customer values that, and why it does it better than anyone else gives you the confidence, or brand swagger, to walk into a room and meet that potential customer, close that sales pitch, and inspire loyalty.
4. Loyalty. Strong brands have strong relationships. Strong relationships lead to loyalty. Loyal customers pay a little extra, are more lenient when you make mistakes, and don’t abandon you for competitive offers. The same thing can be said for employees.
That’s my list. I’d love to hear from you though. What are some of your reasons for building a strong brand?
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