Gone are the days when a catchy slogan and a cute logo were enough to create a strong, healthy brand. Today’s business landscape is more complex, faster paced, and ultra-competitive. Business owners that don’t establish and then protect their brand may find themselves unable to achieve the desired reputation and the related benefits.
Why Is Protecting Your Brand So Important?
Brand protection is a term that describes a set of steps companies can take to safeguard their brand as a whole. It helps brands see improved sales and ensure longevity. There is no way to know what the future holds – we know that more now than ever after a year of lockdowns due to the pandemic. What brand protection can do is make certain your reputation is maintained throughout the good and bad times, ensuring the best possible outcome for your organisation.
What do you want people to know about your brand? What steps do you feel are necessary to take to ensure your brand is understood by prospective customers, partners, and other stakeholders? With brand protection, you can help your organisation in various ways, even during times of crisis. Here are some things to consider when it comes to protecting your brand.
How is your brand perceived?
One important aspect of protecting your brand is controlling how your brand is perceived. How do other people see your company and what you stand for? Do potential customers know what you offer? Customers, partners, investors, and others all need to have a good idea of what your brand is and does.
You must ensure that you have a well-defined image which is received positively from each stakeholder connected to your small business. This may be done in a variety of ways:
- Communicate a clear message about your brand and mission.
- Provide support to employees and customers who may need it during difficult times.
- Showcase what you are doing to be good stewards of the environment and the world itself.
Does your brand reputation increase revenue?
When you have proper brand protection in place, it impacts every facet of your business. That includes the revenue you are pulling in. When companies have a well-defined brand and communicate well with their customers, this directly leads to gross profit increases. This is due to several factors such being stronger than competitors and better sales as a result of brand recognition. Are you doing what it takes to boost your brand so you can increase your company’s revenue?
Is your brand growing?
Brand and company growth are different things. Perhaps you have more sales this year than last. Or maybe you are available in more markets, or your sales opportunities are growing. But is your brand growing too?
Brand growth means several things. It can indicate that your company’s brand image is more defined and clearly understood by the public. It may also indicate that your brand is easier to recognise by the consumer, including people who may not have had prior opportunities to engage with your company.
What Are Brand Growth Strategies That Could Help Your Company?
Creating and maintaining a connection between your consumers and your brand is essential. To achieve this, consider these strategies:
- Develop a clear brand voice. Define your brand voice, including phrases, wording, and other language representing what you hope others perceive about your company. Use this voice across all mediums in which you are working to connect to stakeholders.
- Define your target personas. Who is your target audience when it comes to communicating your brand? Where are they? How might they benefit from your organisation? Set guidelines for however many personas you plan to reach, and do some research on your target demographics.
- Create opportunities to communicate fully. There are many ways to do this, such as developing social media pages, building a blog, and enhancing media campaigns. Once you have a well-defined brand, you need to ensure all touchpoints offer the same brand image.
Final Thoughts
Building a strong brand image is highly valuable to your company. Thus, you should create a strategy for developing brand growth in order to achieve benefits in revenue and customer recognition. You may wish to consider speaking to a professional who can help you market your business effectively in today’s environment. This may include things like innovative PR and communication solutions directed at your customers, partners, employees, or investors. Utilising a professional that offers reputation management services allows you to gain more insight into the strategies that may work for your company specifically.
“The opinions expressed by BizWitty Contributors are their own, not those of BizCover and should not be relied upon in place of appropriate professional advice. Please read our full disclaimer."
