|Posted by EOTM Admin on August 18, 2013 at 2:40 PM|
Branding is one of the most important aspects of any business. An effective brand strategy gives you a major edge in increasingly competitive markets.
Your brand is your promise to your customer, it tells them what they can expect from your products and services, and it differentiates you from your competitors'. Your brand is derived from who you are, who you want to be and who people perceive you to be.
Your brand strategy is how, what, where, when and to whom you plan on communicating and delivering on your brand messages. Where you advertise is part of your brand strategy. Your distribution channels are also part of your brand strategy. And what you communicate visually and verbally are part of your brand strategy, too.
Consistent, strategic branding leads to a strong brand equity, which means the added value brought to your company's products or services that allows you to charge more for your brand than what identical, unbranded products command. The most obvious example of this is Coke vs. a generic soda. Because Coca-Cola has built a powerful brand equity, it can charge more for its product--and customers will pay that higher price.
How are you defining your brand? What is your company's mission? What are the benefits and features of your products or services? What do your customers and prospects already think of your company? What qualities do you want them to associate with your company?
Because defining your brand and developing a brand strategy can be complex, consider partnering with EOTM Media Group. We will help define your brand and so much more.