Like it or not, if you have a business, you have a brand. Granted, it might not be much of a brand—unrecognized or (like your prom pictures) even a bit embarrassing—but it’s a brand all the same. And whether you’re an established blue chip company or the local mom and pop pizza shop, your brand affects your bottom line.
But just how important is your brand to your business? In tight economic times, is it a wise investment to bolster your brand or is it more akin to spending money on a high-end car stereo for a vehicle that doesn’t run well?
For the local mom and pop pizza shop, having a brand agency strategically craft a new brand from the ground up may seem like a luxury. But having a compelling, consistent, and clear brand is a necessity. A brand is more than just your logo coupled with a product or service—it’s how your company is perceived by the public. A solid brand creates a lasting relationship among customers, positive word of mouth, and a distinct separation from the competition. It turns the purchase of a company’s product or service into a positive, memorable experience. A negative brand is often the result of a bad experience. The blog I Hate Duane Reade: Service from Hell is a good example of what can happen when you let your brand fall to the wayside.
“But it’s just one person’s ranting,” you might say of the blog. True, but that one person’s rants have influenced the thousand plus readers who’ve visited the blog, and it wasn’t in a positive way.
Every interaction a person has with a company, its product or service builds a perception and influences a brand. If the word-of-mouth about a company is bad, or if the company is inconsistent with its messaging, advertising, even its customer service (note: Duane Reade), the brand suffers. And when the brand suffers, the bottom line suffers. Why risk a bad experience when you’re paying good money for a product or service? That’s why developing a solid brand is a necessity for a company to grow.
The good news is that creating a strong brand doesn’t have to be a costly investment.
A good brand
- Can articulate its story in a sentence or two.
- Is clearly understood by all the company’s employees.
- Is consistently represented with specific language, behaviors and levels of customer service.
- Aligns the messaging and visual design on all marketing materials.
Treating your brand like a luxury you can’t afford is a costly mistake, one that effects your bottom line.
More on the necessity of a good brand.
Next up
Brand Demystifier: “Our company doesn’t have a brand!”
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