Monday, August 16, 2010

The Importance of Developing a Unique Brand Strategy

A brand is much more than a logo. It’s your company’s identity, a reflection of your product and how customers feel about your firm. Building brand equity is an ongoing process, one that requires careful planning and execution. Ecentric can help your company build an unforgettable brand that stands the test of time.

Your brand is the entire experience that your prospects and customers have with your company. It’s the personality you convey, the voice you communicate in and ultimately what you stand for as an organization. Although your brand does include your corporate logo, website and stationery etc, your brand really exists in the daily interaction you have with the marketplace.

Key elements of your daily brand promise include:

- Your key messaging/positioning on all marketing materials
- The look and feel of your website and print collateral
- Employee interaction with your prospects and customers
- Opinions held by your customers

A strong and unique brand helps you stand out from your competition. It helps bring your unique selling proposition (USP) to life in the mind of your prospects and customers. At its core, branding is continually telling your prospects and customers why they should buy or continue buying from you.

Successful branding creates a sense of familiarity with your products and services, potentially before any interaction has even taken place. This can help build trust and credibility in the minds of the consumer, shortening sales cycles and increasing revenue.

There may or may not be successful brands in your particular industry. When you inevitably go up against a competitor, the one that represents something in the mind of the consumer will have an easier time closing sales and retaining customers. The creation and execution of an effective brand strategy can give your organization the competitive advantage it needs to dominate the marketplace.

The amount of money the marketplace is prepared to pay for your product or service is in many ways is determined by the strength of your brand. This is called brand equity. When your brand reaches “Power Brand” status, you know you’ve arrived. When’s the last time you said “Go input a search query on an internet service provider”… no, you simply say, “Google it.”

Next week we’ll look at the steps and strategies to go about creating a “Power brand”.

If you can’t wait until then and you’d like to discuss how ecentric could help your company with their branding, please give us a shout today.

This entry was posted on the ecentric website on Tuesday, August 10th.

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