Brand Strategy is important for a Company and your Company needs to develop a strong Brand Strategy for better Market Positioning. When a company sets up shop to begin the business activities for which it was originally set up, many managers and companies make the mistake of thinking that their work is done. It is then the time for them to start doing their business and attracting customers.
While the above is true to some extent, it is only the beginning. The real journey begins from the time the company is set up to start operations. Please note that even though the term “Company” was used and will be used throughout this piece, said terms also applies to business names and solo practices.
Thus, I personally believe that a strong branding strategy is important to foster long-term growth of the business to help it transition from one set of management to the other.
Coca Cola is a big company, same as Pepsi, Red Bull, and several other drinks manufacturers. These companies are unique. They are easily recognizable anywhere. They stand out from the crowd. Even though there are many other drinks manufacturers out there, these ones stand out.
GT Bank, Zenith, and others are international banks. Have you noticed that you will recognize a Zenith bank branch anywhere you see it even if there is no signpost to indicate that the bank is situated there. Same for GT and others. Why?
Law firms like Olaniwun Ajayi LP, Baker & McKenzie, Clifford Chance LLP (one of the top global law firms in the whole world), stand out. They are easily recognizable anywhere. Why them? Why not several hundreds of thousands of other law firms out there?
The list is endless. And I have to note that their branding strategy is superb.
All the firms and companies/manufacturers aforementioned have one salient thing in common with each other: They are well-branded. They are all unique. They provide services and goods that stand out of the ocean of other service providers and manufacturers. They are known expressly for one attribute or the other. They are known because of their Brands.
These companies and firms took their time to build their brands and nurture their corporate image so that they manage to rise above the tides. They spent much on their public perception, thus making it easy for people to have confidence in them and what they do. Their branding makes it easy for people to make snap decisions about using their products and services. In other words, their brand speaks for itself.
Some people erroneously think that once they set up, register their businesses in one or two online directories, hand out a few fliers, design a logo, then are they are well set up and well branded.
The answer is no.
While the above is true, it is only the beginning crawl of a long process of learning how to walk. They still have much to do. Things to do. Public perception of them and their products and services to shape into what they want it to be in the eyes of the buying public. All these boils down to a strong branding strategy which is measurable and time-bound.
Branding Strategy is not one process, neither is it a series of processes only. Branding is a culture that is set up via a series of processes that aids in making the services/product stand out from the crowd out there. You want your product to stand out? You want people to perceive your firm as the
best there is in the market? Then you have to brand it. You have to stamp it to become what you want it to become. You have to make the product/service and your firm/company something that will stand out from the screaming masses so that you will be known. There is no way around this.
DISCLAIMER: The author is not affiliated in any way with any of the firms or companies mentioned anywhere in this article. The mention of (and absence of the names of other firms not expressly mentioned) these firms and companies does not in any way detract from the excellence and good standing of other services and manufacturing firms/companies not expressly mentioned. These brand names were used for illustration purposes only and does not constitute an endorsement of them and/or their products/services. Be properly guided.