Brand Your Company to Improve Your Bottom Line

Many business owners spend much of their time, money and energy promoting their products and services instead of building their brand image. If your main emphasis is on your product offerings, then you don't have a brand, you have a commodity. You are most likely competing solely on price because you have not clearly defined your unique marketing position - what it is that makes you different, special and more compelling than anyone else in your industry.

Why do most business owners avoid branding their companies? In short, because it's hard work. It takes time, attention and honesty to "drill down" and determine a company's core strengths. And it takes courage to devote a company's future on owning a niche market. Instead, most owners will think they are playing it safe by trying to be all things to all people. But in the end, that strategy fails precisely because there is no central focus. Consumers can't remember what they can't recall. So if you say you are known for price, quality, service, selection, reputation, honesty and being family owned and operated, that's just too much for anyone to remember. Even major corporations will only attempt to own one niche of a market, such as Wal-mart's focus on price, Volvo's focus on safety and Apple's focus on innovation.

Read Phil's entire article Brand Your Company to Improve Your Bottom Line

Phil Davis, our official Branding and Naming Expert