[Read Time: 1 minute, 54 seconds]
When thinking of branding, a majority of individuals, including seasoned entrepreneurs operate under the assumption that brand investment happens at the start of the businesses journey. Logo.. check! Business cards.. check! Website.. check! And so on. But brand investment should be a continuous business activity, not a one-time deal. And unfortunately for some business leaders, this realization does not come until it’s too late.
Investing in quality, consistent internal & external branding initiatives have enabled countless companies to achieve lasting success across a multitude of markets & industries. Why? Because your brand speaks volumes. And this is true whether the narrative created is a positive or even a negative one. It’s being heard loud & clear within your market. Thousands of companies have faded into the background because of not understanding the value of brand management & importance of continual brand investment.
I’m sure by now you’re asking, “Now, all of this is great, but what does continual brand investment do for my bottom line? Is it worth the actual cost?” That’s a great question, and the most straightforward answer would be “Absolutely”! Your business is made up of tangible and intangible assets. Cash may be an important tangible asset, but your brand is incredibly valuable too.
How do we know? One particularly compelling example looked at the value of S&P 500 organizations over a 30-year period, beginning in 1975. In just three decades, Businessweek found that the value attributed to these companies’ intangible assets jumped from 17% to 80%. This means that between the 1970s and the early 2000s, the most valuable assets that companies had were intangible, including their brand.
Now, not everyone will achieve the brand recognition and success of a Coca-Cola, Google, or Nike, but each and every leader of a business should place emphasis on the continual development & management of the brands they lead. I understand that this is at times easier said than done, but the importance of placing a focus on an area that increases awareness, boosts market recognition & differentiates yourself from the competition seems to be paramount. Wouldn’t you agree?
Do not put off investing in your brand for one more day. Learn how to create continuous brand initiatives that will open the door to 2x growth within your business. Click here to start the conversation today.