Long gone are the days when your company brand was defined as a well-designed logo with a catchy slogan attached. Today, a company brand encompasses much more and here we take a look at 5 reasons why your brand strategy is important to the success of your business.

The objectives of a great company brand strategy include gaining credibility, clearly delivering a positive message, motivating consumers to purchase goods or services and creating user loyalty – all of which cannot be done with just a logo design.

To ensure your company brand strategy produces successful results, it’s important to invest time and resources into researching exactly what your target audience wants and needs; only then can you start to build a strong brand that can benefit your business in the following 5 ways.

Customer recognition

When a potential customer is looking to purchase a certain product or service, they tend to seek brands that are identified as well-known and trusted. Therefore, if your company brand is positively recognizable then they are far more likely to choose your brand over that of an unfamiliar competitor, even if they have never purchased anything from your business previously.

To ensure your company brand becomes recognizable to customers, you need to have your brand’s logo and values made clearly visible across all of your products and media platforms and keep the customer experience positive and consistent across your whole organization.

Loyalty

By creating a strong brand that clearly conveys the company’s core values it will connect with customers that share those same values, ultimately creating brand loyalty which will have those customers returning time and time again and even transfer to future generations.

The same can also be said for the loyalty of current and former employees. If you employ staff that also share the same values as those of your company, it’s likely that they will continue to work with you for the long-term which is a great indicator of a successful business.

Loyalty from customers and employees is beneficial for business as it generates profits from the returning custom and new acquisitions alongside decreasing turnover rates.

Attracts top quality talent

Top quality talent candidates will usually seek out a better-known branded company over a lesser known one, due to the fact they will already have an understanding (to some extent) of what it would be like to work under that particular brand.

“The companies that have a hard time attracting top talent are those that can’t differentiate themselves in the market.” Tony Delmacado – COO Hawke Media

By building up your brands reputation, it will help to distinguish your business from the competition and if done successfully, top talent will be approaching your company for job opportunities creating cost-savings in recruitment.

Creates an emotional connection

A well rounded company brand has the ability to create an emotional connection with customers and employees. By having a brand that clearly demonstrates its core values such as ethical working practices and equality, as well as promoting a positive employee culture can make people feel more connected towards them on an emotional level.

This increases loyalty from the customer as people generally would prefer to purchase from a brand that are known to treat their workforce well.

Scales business:

Having a strong company brand can help scale your business in whatever sense you desire, whether it be expanding the business across multiple locations, even globally, or increasing sales.

Getting your brand strategy right takes time and effort, but by making sure you invest time in this area alongside an equally good marketing strategy you will see your business flourish not only in size, but also financially.

So as you can see, your company brand really can mean much more than a nice logo design or catchy slogan if executed correctly. With a good company brand having the ability to enhance the consumer and employee experience alongside distinguishing your company against the competition, it’s an important aspect of your business to focus on, as you will definitely see a return on investment.