How does brand value impact your business?

When working with mid-sized businesses we are often asked why a brand is important? Some companies see Brand as irrelevant as they are in a price driven market, some feel it's not as important in a business to business environment as part of the buying process while others view brand marketing as only for consumer brands with large budgets. The truth is that your brand is the central pillar across all your business development and marketing activities regardless of business type, sector, or size.

Brands are amongst the world’s most powerful influencers of human behaviour, and they can make all of us behave and buy irrationally. There are many examples of large companies such as Starbucks, Nike, Apple that have an established a clear and consistent brand identity that resonates with their target audiences, which has been key to their success.

If you’re not already investing in your brand to help drive the growth of your business, you may be missing out on one the most powerful tools at your disposal.

For example, in a business to business environment with robust procurement processes and professional buyers brand identity will also come in to play. A strong brand can be just as important as it is in business to customers transactions. In fact, it can be even more important as business to business transactions often involve larger sums of money and longer-term relationships. A strong brand can help establish credibility and trust with potential business partners, making them more likely to choose your company over a competitor.

What do you need to consider to invest in your brand identity and proposition?

1. Understand your audience: Conduct market research to understand the needs and preferences of your audience and create a brand that speaks directly to them.
2. Define your brand values: Your brand values should be at the core of your business and guide all aspects of your brand strategy. Define your brand values and communicate them consistently across all touchpoints.
3. Develop a consistent visual identity: Develop a visual identity that is consistent across all channels, including your website, social media, and marketing materials.
4. Be authentic: Authenticity is key in building trust and credibility with customers. Be true to your brand values and communicate honestly with your customers.
5. Engage with your audience: Engage with your audience through social media, email, and other channels to build relationships and foster loyalty. Respond to customer feedback and use it to improve your brand strategy.
6. Measure and adapt: Measure the effectiveness of your brand strategy regularly and adapt as needed. Use data to inform your decisions and continuously improve your brand image.

Improving your brand image takes time and effort, but it can pay off in significant ways. By investing in your brand, you can drive growth, increase sales, and build a valuable asset for your business.

What’s next? 

If you want to stress test your brand identity, or develop a new one, we've designed a workshop that will create your own High growth, high performance plan.