The Power of Brand Management: How will you be remembered?
When in business or serving in the non-profit sector, it’s important to spend considerable time and money developing a strong brand for the marketplace. As a business coach and graphic designer, I’ve come to realize over the years, a brand is more than just a nice logo or website design. But a brand includes many aspects of how your business and/or organization (as well as yourself) are perceived by the public.
These aspects include:
- Your reputation
- Your work ethic
- Your services
- Your products
- Your voice/message
- Your look/image
- Your colors
- Your graphics
- Your taglines/slogans
- Your photos
As these items are consistently and positively portrayed in the marketplace, you, your business and/or organization become known for them. If you spend considerable time, money, and care developing your brand you will have favorable outcomes when it comes to leaving a positive impression in the minds of the public at large. You in turn build valuable brand equity.
Brand equity is defined as:
The commercial value that derives from consumer perception of the brand name of a particular product or service, rather than from the product or service itself.1
In my opinion, building brand equity should be one of the foremost goals of a business leader. When a business or organization allows this critical aspect of business development to take the back seat, it can ultimately hurt the business, leading to unfavorable outcomes.
Conversely, when a business intentionally focuses on developing a strong brand, their investment can be extremely rewarding. This investment can yield profitable dividends such as: an exceptional reputation, more business, extensive donor support, substantial influence, much needed exposure, and the possibility of dominating their market.
With that said, here are things to consider when developing your brand:
- What are your company’s or organization’s core values?
- What is your company’s or organization’s message?
- What solutions will your company or organization provide?
- What is your company’s or organization’s vision, mission, and purpose?
- What are the unique qualities you want the public to remember about your business or organization?
- What are the unique features, benefits, and advantages of your products and services?
Branding basically tells the public what they can expect from you, your business/organization, your products, and your services. The future of your business or organization depends on how you develop and manage your brand. Brand development and management, or the lack there of, can either make or break you.
As a business leader or owner, the power of brand development is in your hands. The question is: What kind of brand have you created in the marketplace? What kind of mark will you leave? How will you be remembered?
1. Dictionary, Version 2.2.1 (194), Copyright © 2005-2016, Apple Inc. All right reserved.
Copyright © 2018, Tarsha L. Campbell, All rights reserved. This is copy-written material, use only with permission from the author.