The Importance of Brand
A company owns many things, it owns assets, it likely owns trademarks and it hopefully owns some revenue too. However one of the most valuable commodity that any business can own is a brand, and the power and value of a recognizable brand is something that no one should underestimate.
Many companies don't recognize this and they don't use the right brand promotion tools in order to promote their company and ensure people know who they are which leaves them at a huge disadvantage.
The problem is that without a brand there is nothing holding a company together. Without a brand, in the eyes of the customer you don't exist other than in the form of some random and unconnected products and services. That means you can't promote all of your products in one swoop and it means that someone who has had a good experience can't further look into more of your items and services.
With a brand however and by using the right brand promotion tools you create a 'label' – something instantly recognizable that allows people to seek you out and that lets people connect one of your products with another. If you have a recognizable brand, then this will mean that simply by putting a poster up with your logo on it, people will know that it's yours and they will know where to go to find out more. With your brand fresh in their mind they will be more likely to buy your other products and you might see a lift in sales.
Likewise with a brand, if someone enjoys one of your products then they will come to see your logo as a stamp of quality. They can then look into more of the things you offer feeling that they are guaranteed to get a good experience and that way you can get more repeat business and you can see the word spread more.
People in some cases can even get behind a brand. If they like the brand enough and the company has employed the correct brand promotion tools, then people might come to affiliate themselves with the brand, with the logo or with the idea. Just look at the Nike tick – people will wear it simply to be able to be wearing Nike and will pay more as a result. At the same time people own iPhones partly for the recognizable brand and only partly for the technology and software they contain.
Then there's examples like Virgin – thanks to the recognizable branding, Virgin has consistently been able to enter new markets and generate a buzz and succeed far more quickly than they would if no one knew the name.
Brands represent a long term plan and they represent a vision. This is something that customers and clients recognize, and if you can use the correct brand promotion tools then this can even grow to the point where your brand itself is worth a lot of money – and this then becomes an asset that will hugely increase the value of your business and even encourage people to invest.
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