Building your Brand is Building your Business

Add comment June 18th, 2008

Your company’s brand can be an important asset.

While the brand itself is intangible, its value is very real. By some accounts, Coca-Cola’s brand name (not including any physical items or even the recipe for Coke) is worth over $60 billion.

The whole idea of a brand, which has its humble roots in burning a recognizable symbol in the hind end of cattle, is about how current and prospective customers see you.

Take for instance the following three companies: Starbucks, Dunkin’ Donuts, and McDonalds. Which one is focused on serving you great coffee?

The answer is all three. Yet Starbucks probably was the first to pop into your mind. Here’s an easier one, which one sells coffee for double the price of the other two?

See our point?

There’s a lot that can be said about building a brand.

Just keep in mind that when developing a marketing plan for your company, be sure to reinforce your brand. What is recognizable about your company? What do you want to be recognizable about your company?

Your brand should be a promise to your customers. Don’t forget to deliver on that promise.