3 Critical Benefits of Properly Branding Your Business
by Rob Wolfe – Connected Places Global
Crafting your brand based on your values is a critical initial step in jumpstarting business–an investment you can’t afford to forgo.
According to the Young & Rubicam Brand Asset Valuator®, companies that increase their brand’s differentiation over competing brands have about a 50 percent higher operating margin on average versus companies that allow their brand differentiation to decrease.
Benefit 1: Brand Identity.
Branding is much more than a name and a logo.
It is about discovering the thing deep inside you and your business that creates unique value for your customers. If you clearly and consistently brand your business, you’ll have a laser-focused understanding of your business’s values, personality and goals, and a self awareness that dictates all your actions. It’s the cornerstone of a strong business identity.
Benefit 2: Brand Promise.
A brand is a promise – the emotional and psychological deal you make with your clients. To inspire others with your brand, you must believe in everything it represents. Just as no two snowflakes are alike, so it must be with your brand Only when you prove you are different and trustworthy will people talk about you, show their loyalty, and recommend you to their friends.
Benefit 3: Brand Value.
Strong brands elicit strong emotions, opinions, and responses from your target market that contribute to the growth of your business. All good business decisions are made in alignment with the established brand. Your brand differentiation determines the position and strength of your entire marketing framework, and serves as a constant internal point of focus.
Do you have any stories to share related to these benefits about how properly branding your business up-front, or NOT properly branding your business initially, either contributed to or hindered the success of your brand?
Entry filed under: BRANDING, BUSINESS BEST PRACTICES, ENTREPRENEURSHIP. Tags: benefits of branding, Brand Asset Valuator, brand identity, Brand Promise, brand value, branding, Rob Wolfe, Young and Rubicam.