It is a fact that branding is the key factor to the success of your business. Some organizations tend to overlook the need for branding while what they do not know is that the success of their agencies is dependent on this task. Some are not quite sure of what colors to choose that will match the companys mission. The bottom line is branding is important and these are the reasons why.
It provides a stable asset
The ownership of a company, the technology used may change or the product fails but a strong brand will still stand. A brand is the most sustainable asset of an organization and when it is in line with the agencys overall strategy, it can perform as the central organizing principle of decision making by the organization.
Brands provide a competitive advantage
Despite the nature of your business, whether for profit or non-profit reasons, there is a need for your organization to compete for audience attention, resources, and talent. Branding if done correctly, it helps in mirroring the agencys strategic plan, and also helps in promoting initiatives and strategic areas that will promote the organization.
Brands provide economic value
An organizations value is divided in two main areas: the tangible and intangible assets. Brands form the intangible assets. Brands account for more than one-thirds of a shareholder value. This means that the value of most agencies come the intangible goods of which brands form the largest percentage.
Brands are expectations setters
Branding is more of a promise that is made by the organization to their customers. The brand carries a promise that tells the audience of who you are, what your beliefs are, and the unique value that your company provide. As such it is important that you maintain the brand quality and keep the promises.