Marketing and PR guide: The importance of branding in 2015
What exactly are brand values and why are they so important? Your brand is the core of your business, it represents everything you are to your customers, suppliers and the audiences which you engage.By Paul Bury, managing director, Sixtyeight.
It underpins all of your business activities and, like it or not, whatever business you operate, however large or small you have a brand. It's important you understand what this means and how you can develop your brand to help you achieve your business objectives.One of the best ways to define your brand values is to get a blank piece of paper and simply list what you feel are the attributes, feelings and emotions surrounding your product or service. Ask your management to do the same and also allow all of your employees the opportunity to comment as they are part and parcel of your brand too.
Once you have the list you can refine it. When it's complete, immerse yourself in it, keep it visible and look at it every day (several times if you can) and allow it to be communicated throughout your organisation.You should find the whole process revitalising and exciting. After all, they are the brand values of your business, and if developed and communicated correctly could result in a very healthy top and bottom line.
Finally, this should lead into the development of the marketing and communication plan which if executed correctly will result in business growth and a positive return on investment.So in summary, your brand values do hold the potential for a healthy bottom line. Brands are the sum of your business’s attributes and when boiled down equate to trust, the more your customers trust your brand the more they will come back to 'buy it'. The more times they 'buy it' the more opportunities you have to generate profit. It's a fairly simple equation but one that has the potential to transform your business.