Every business wants to be a customer’s first choice. Building and managing a brand can play a significant part in making that happen.
The concept of a brand extends far beyond just your company logo to your business’ core values and to every interaction you have with customers and suppliers. In effect, your brand creates and maintains your reputation and so reflects your customers’ experience of your organisation.
Customers and employees can build up emotional attachments to certain brands, allowing for strong loyalties and even a sense of ownership. This can help maintain employee motivation and increase your sales but it can also cause problems if you don’t consult these stakeholders as your business grows.
Your brand is what you are really selling to your customers, not just a product or service for which there may already be many existing providers. A strong brand can make any business stand out from the crowd, particularly in competitive markets.