The brand is considered one the most valuable assets of a business. However, it is also an aspect that many business owners fail to understand the basics, let alone its significance. A quick search on the internet will give a diverse range of answers, such as “the emotional and psychological relationship you have with your customers,” or “the name, term, design, symbol, or any other feature that identify your product distinct from the others.”
Regardless of the definition you subscribe, we can all agree that the brand is a multi-faceted and does encompass many aspects that revolve around the interactions between your business and its audience. More than a logo, your brand lives and evolves in the minds and hearts not only of your customers, but of your employees, stakeholders, and even competitors as well.
As such, developing a good brand is essential to running a successful business today. Not only it helps you attract, retain, and engage potential customers, but it is instrumental if you want your business to leave a mark in your industry as well.
When developing a brand, it is always best to strive for transparency and authenticity. This is because 94% of all consumers are more likely to be loyal to a brand when it commits to full transparency. Likewise, 80% of consumers say that “authenticity of content” is the most influential factor in their decision to become a follower of a brand.
While the process of developing a good brand can be time and resource consuming, the merits it can provide to your business is astounding. And with a plethora of digital tools and technologies available in the market at your disposal, boosting your brand should not be as hard as it used decades ago.
Learn the ways to improve your business branding in 2018 by checking out this infographic from CJG Digital Marketing.