Brand: The Most Valuable Asset for any Business

“BUILD A VOICE AND AN OPINION FIRST, AND THAN IF IT RESONATES WITH THE AUDIENCE, THEN YOU’LL GET AN AUDIENCE”
– Adam Carolla

This great saying establishes “BRAND” as the collective standpoint of common people.

Brand. A name, an identity, expectations, memories, stories, and relationships that put together on customers’ mind, what make them choose a certain product or service and continue with.

We know very little about branding. In simple words, we understand that a brand for a company is like a reputation for a person. A person earns reputation by trying to do hard things well. The same goes for a company or an organization.

The brand distinguishes a product or a service with its unique quality, design, services, logo, name or combination of all these from the other marketers or the competitors. A brand is the most valuable asset of the company. It represents the face of the company, makes the company recognizable to the world, and creates an undying impression on the customer’s mind.

The concept of branding has been there for many years. The basic thing which makes a company a “BRAND” is Trust & Worthy on which customers are relay upon. The brand is like a “promise” to its customers and stake holders. To some extent, the company has the liability to be consistent in delivering promised quality service and product. By doing this, the company is exposing the brand to the huge customer base and also in the way to create potential customer chain.

Before we deep into the discussion, let’s get an eye on the top entrepreneurs’ words on brand-

If your business is not a brand, it is a commodity.
– Donald Trump, President of The Trump Organization

If people believe they share values with a company, they will stay loyal to the brand.
– Howard Schultz, CEO of Starbucks

Make every detail perfect, and limit the number of details to perfect.
– Jack Dorsey, Co-Founder of Twitter

Your premium brand had better be delivering something special, or it’s not going to get the business.
– Warren Buffet, CEO of Berkshire Hathaway

Your brand is what other people say about you when you’re not in the room.
– Jeff Bezos, Founder of Amazon.com

Really there are so many to learn from the successfuls!

Looking out into the world, you can understand why the brand is so important since last 50 years or more. If you go by consumer psychology, a brand is the perception of an organization that exists in the minds. Understand that human mind is critical, but insights from the psychological study show that human mind and behavior is influenced by what they like and feel to continue with that particular organization. Hence, it is essential that you need to be highly consistent in the matters of your product offerings as well as the service you have given to your customers till now. Because these are the two key attributes that have made you a brand today! So no matter what, you have to be immensely cautious not to damage that consistency.

Branding is not only about attract more customers than others in the same line of business. But about getting your prospects,demands to see you as the sole provider of a solution. There are some factors which help an organization to become a brand –

• Clarity
• Credibility
• Emotional connection with the customer
• Enhanced service
• Loyalty
• Understanding

Let these components be the guideline of your brand. Today brand is a bit more complex, but even more important in the world of marketing. To succeed – understand, focus, and be your own best customer.