Brands Increase the Odds of Business Survival
March 9, 2010
These days everyone is preaching about branding, and rightfully so. While pricing, location and even networking can set a business apart from its competitors, one of the most crucial elements of distinguishing a company is its branding.
Proper branding does not just mean slapping a logo on some business cards – successful brands are thoughtfully composed and developed, and promoted consistently across a variety of platforms, from promotional products and uniforms to the office decor and tone of company communications.
Most business owners confuse branding with marketing. A brand is a promise about who you are and what benefits you deliver that gets reinforced every time people come in contact with any facet of you or your business. Branding is the process of building a positive collection of perceptions in your customer’s mind. The branding process is the foundation on which the marketing is built.
For example when you mention Volvo, the first thing that comes to mind for most people is safety. Google is on the forefront of every one’s mind when talking about search, and Disney has become ubiquitous with making dreams come true. The top brands of the world have achieved a dominate position, making them the first companies that people think about when it comes to their core business model, and this all came from early man’s need to rapidly identify threats and opportunities in order to survive. Today, this mindset directly relates to the survival of your business as you face challenging economic times. It’s critical that your consumers can quickly identify with your company, understand exactly what you do and how that benefits them.
Building brands takes focus, passion, persistence, and diligence. Plus the brand building requires effort and money. The pay, and it’s a big one, is that strong brands build business and equity for their owners.
Great brands aren’t just known and trusted. They’re loved!
Entry Filed under: Brand Building, branding. Tags: branding, brands.
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