Growth is all the rage these days. A strong brand is a great way to accelerate it.
But as business leaders clamor for growth, the broader strategic arguments for a strong brand can fall by the wayside. Let’s take a closer look at the power of a strong brand.
- Internal passion and energy: The best promise in the world is meaningless if your people aren’t motivated to deliver it. And if your employees aren’t clear and excited about what you stand for, it’s just a matter of time before you lose them. A powerful articulation of your brand creates passion and energy that motivates your people to go above and beyond to deliver for customers. And it provides continual reinforcement of the values and beliefs that unify your organization, making your employees loyal advocates for your company and much tougher for your competitors to steal.
"If your employees aren’t clear and excited about what you stand for, it’s just a matter of time before you lose them. A powerful articulation of your brand creates passion and energy that motivates your people to go above and beyond to deliver for customers."
- Strategic focus: There’s no shortage of opportunities in any successful company. Which product ideas should you pursue? Who should you hire and how should you structure the organization? What about that merger offer that just came across your desk? Strategy is as much about what you choose not to do as it is about what you do, and a strong brand serves as a touchstone, a true north, that informs your decisions about how to allocate your scarce human and financial resources.
- Business value: In some circles (I’m looking at you, CFOs) “branding” is sometimes pooh-poohed as an intangible metric. Not so fast… Interbrand values Apple’s brand at $408 billion. Yeah, with a B. A strong brand adds real economic value to your business – value that increases shareholder return and commands a premium in the marketplace.
So, let’s grow! And let’s harness the power of branding to do it. Don’t lose sight of the benefits a strong brand brings your organization. If you think broadly about the strategic power of a strong brand, you’ll build a more valuable and more rewarding business.