In branding a business, perception is reality. Think about some of the top companies in the world. Nike, Samsung, Ray-Ban and Apple rank among the most recognized companies, but they do not manufacture the majority of their products. Instead, numerous vendors under contract work in silos creating the products consumers know and love. While top brands don’t manufacture their goods a majority of the time, they do create the image that sells. They are experts in brand development.
Take us, EAG Advertising & Marketing, for example. Our “brand” is to take big brand strategies and apply them to marketing for our clients, Kansas City-based small businesses. It’s really a matter of scale, and branding lends itself well to scaling to any size company. When it comes to creating a strong brand for your company, one that proves as attractive to customers as well as potential buyers, there is no reason your company brand can’t be irresistible.
What Makes a Strong Brand?
In short, a strong brand is an image of your company that the consumer – and therefore a potential buyer – will find desirable. It may encompass a lot of different ideas; quality products, trustworthiness, pioneering spirit, down-to-earth values, environmentally friendly or any other value that a person might hold dear.
The key factor in developing a strong brand is knowing what appeals to your target customers and stressing the unique selling points that strike a chord with that audience. The Remington logo of a mounted trophy head would not appeal to all, but it sure does to those who enjoy and admire hunting firearms. The logo symbolizes that the company is one of that group and the simple addition of “Est. 1816” at the bottom reflects “tradition,” a value many outdoorsman hold in high esteem.
How Your Brand Adds Value at Sale
There is more than one method of deciding the value of a company, but one common denominator is projected future income. This projection can be based on the strength of your company’s brand.
Even a company that has relatively low current cash flow may be considered a winner if it has developed a strong market presence through brand development. It will garner higher bids than companies with more profitability and poor company branding. It is easier for an investor to change the management than to build a company image.
Gaining & Maintaining Brand Traction
A company’s value, both real and perceived, can be directly tied to how that company is identified among consumers and competitors in the marketplace. To get the best possible price for your business, it is necessary to keep your brand intact, protected and respected. This applies to businesses both large and small.
You must constantly evaluate your core values as a company, your unique selling points and why they are pertinent to your target customer group. As marketing channels change and evolve, decisions on where and how to deliver your brand message must be made.
It can be a process of trial and error, or you can hire a group that specializes in brand development. If you are preparing to sell your small/medium business it may require some tough introspection. An objective evaluation of your branding can bring to light your brand’s strongest attributes on which you can capitalize, along with the weaknesses that you can improve upon.
EAG Advertising & Marketing is behind creating some of the most recognizable and loved brands in the Kansas City business community. Let’s talk about your brand development.