There is a biblical principle that says a great name is better than great riches. If you pay close attention you’ll see the practicality of this principle in our day to day life in business and in general, we call it Branding.
I experienced the power of a brand at a certain business event I attended a few weeks ago. The host teased the audience by mentioning the name of a certain South African top DJ. He asked, “Do you know a DJ by the name of so and so” as if he was going to perform in a couple minutes. You could see the level of excitement sky rocketing through the roof only to be calmed by the explanation from the host “actually his friend is the one who is playing music behind us”. That’s the power of a personal brand. This post is not about personal branding. It is about corporate branding.
I believe the most valuable asset of an organization is their brand. Of Couse businesses are created to earn profit (riches), although our focus shouldn’t be on making money but rather creating a name that will sustain our businesses for years. After all is said and done, after all your products and serviced are sold and faded out of the market, the only thing that can keep a business running and open for new opportunities is the brand.
WHAT MAKES A BRAND
There are two aspects to branding. We can call them Software and Hardware or Spirit and Flesh. The soft/sprit part of branding is the value proposition you offer to your customers, the experience that customers get when they come into contact with your product or service.
The Hard/Body part of branding is the main foundation were you build your value proposition upon. That’s your corporate Identity, Company Name, Your Logo, Corporate Colors, Branded Stationary, Corporate Clothing, and Premises Setup etc. Basically this is visual representation of your business.
I’ll continue on this subject and look at the advantages of establishing a brand and the steps you need to take to establish one for your business.