Now we’ve established what a brand is, what is having a good one actually going to do for your business?
Now it’s said everyone likes a list, which might be true when it’s the Top 10 News Reader Gaffs of 2016 (Did you see it when the Sky anchor called it ‘Breakfast’ instead of ‘Brexit’. Classic!), but the Competitive Advantages of Building a Solid Brand is less likely to make Chanel 5’s Christmas schedule. It makes sense here though. See it as being information, some of it you’ll no doubt know, handily packaged in one place. Plus, it shows that we know what we’re talking about.
So, coming up after ‘When Milk Goes Bad’…
Good branding builds trust among your customers. If your business appears professional and legitimate, people are more likely to buy from you. Establishing trust will influence customers to be loyal to your company and tell their friends about you, safe in the knowledge that you deliver on your promises. Having a strong brand enhances credibility within your industry and the overall marketplace too.
Customers buy from companies they like, know, and trust. If you’re branding is effective, you’re more likely to sell that novelty door handle.
Advertising is an important component of any brand. From the medium you choose to the demographic you target, advertising works to build brand awareness and allows you to express yourself as a business.
Whether it is to announce the launch of the revolutionary left handed door knob or to recruit for the role of trainee polisher, your advertising should follow the same principals of communication.
Your brand differentiates you from your competitors. When customers recognise your brand and ‘champion’ it, it helps give your business a competitive edge.
The greater the recognition and the more well established the trust, the more competitive you will be. Meaning every bathroom in Bognor to country kitchen in the Cotswolds will be making people smile as they enter.
A strong brand guarantees future business, making your company more promising as an ongoing entity or (whisper it) for prospective sale. Being perceived as more valuable gives you, as the owner an advantage. The greater your commitment to building brand value, the better the financial return for your efforts.
Most employees are looking for something to believe in, be a part of and have an influence on. Nobody chooses entry/exit mechanics who doesn’t love it. Part of your brand includes your company’s mission and reason for its very existence. With this information, your employees will feel a sense of pride and work together to achieve the company’s goals. You could say it’ll get them ‘pulling in the same direction’!
Create a brand that employees can be proud to knock on a stranger’s door to shout about.
When you’ve established a strong brand with a solid customer base, it’s easier to introduce or test out new products. Generate interest among your loyal brand following, build anticipation and get customers excited about the release of new products or services, and they can help make these a success.
You know that door handle you bought, yes the one of the news reader whos boob pops out, well now there’s a door bell.
Good branding leads to referral business. Word of mouth is the most profitable advertising source, and that’s only possible when your business delivers a memorable experience to its customers.
Remember regardless of their size, the most profitable companies have just one thing in common: doors. Okay two: doors and a strong brand.