Branding a Business? Benefits and Costs
Saturday, July 4th, 2009Branding a Business? Benefits and Costs
By: Mary W Brophy
Many business owners consider a company’s brand to be one of its greatest assets. How can you create a brand for your small business that will deliver this value premium? How much will it cost? And, perhaps most importantly, is it worth it?
Branding: Inherent Part of a Company
A brand is more than simple logo development, although the way the company name is displayed is an essential component. Every customer interaction contributes to their perception of your brand – from communicating with the sales staff to how a purchase is shipped and packaged to messages from customer support. All indicate what values your company holds. Identify what is important – honesty, level of product quality, and post sale customer satisfaction – and implement plans to achieve them.
Your branding strategy needs to be an integral part of your operation. If your branding strategy requires high quality customer service, you need to consider your customer’s needs during order taking, billing, returns and exchanges, and then during a post sale thank you by mail or telephone and by sending a buyer satisfaction survey.
What will it cost to brand your company? Because we think of “brands” as large national or international corporations, we often assume it takes huge advertising budgets. This is not the case. Many companies build grand brands without investing in pricey television or banner advertisements.
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