The Importance of Branding & Branding Tips.
While the term “branding” is certainly still new only have been come into major usage over the last half-decade, many people inherently know what a “brand” is or what “branding” entails. While of course a brand is best known as the face of a company, and what the company represents. You could relate a brand to a company’s character. And, to be honest I feel this is the best understanding out there because if you really think about it, the difference between a persons character and a company’s brand is next to nothing. A company’s brand is equivalent to a persons character. And, with that understanding in mind you could see how the branding of a company develops the same way as a persons character/reputation does. Over time, through their actions, and through their choice of words. But what does it mean to really embrace this understanding to lead a brand that is raved about when you’re not there, vs complained about when you are.
The difference comes from those who really understand the importance of branding and everything that it entails. Assuming you work in the C-suite and you think of your company (brand) as a much larger representation of yourself and constantly ask: “is this the right thing to do?”, “is this something I would be happy about on the receiving end?”, “is this something I would enjoy as a customer?” then you will naturally start to progress towards building an organization that priorities customer satisfaction over all-else. And, because it costs 7x more to acquire a new customer than it does to retain an old one, you would be wise to want to adopt such an approach because not only will it yield greater customer advocacy, referrals, and retention BUT it will also make it easier for certain departments in your organization to work with customers to: identify problems quicker, aid in innovation, and increase potential monetization strategies that customers will be on board with.
So besides giving branding tips, you may be wondering – what do those of us at Brand Builders, Inc. actually do? Well, a number of things depending on, well, a number of things. It all depends on:
- What stage a company is at: Startup (and what series in funding), Private, or Public.
- The company’s relationship to their target market: How dominate a company is at in their own market, how well known a company is in their own market, what % of revenue a company is capturing from their target market.
- How flexible a company is to adopt or embrace necessary changes.
- How aggressive a company is in how soon they want changes to happen.
- How willing a company is in being able to provide the necessary resources to make such changes and results come to fruition.
This is of course not an entire list, but a start as to some of the things we look at while assessing companies we’re going to work with. The more we know, the more we can help companies move in the direction they truly desire to go (not just say they want to go). We’ve found more often than not there are multiple reasons a company is not meeting the results they expect vs just one. We help identify those reasons and present them to the company and their executive team to acknowledge and determine how they want to proceed.
To learn more about how we help companies understand the importance of branding or to find some other branding tips we encourage you to take a look at the rest of our website and hope that you will find it as insightful as you’ve found this page to be.