Importance Of Brand In The Growth Of Business

Importance Of Brand In The Growth Of Business

For me, the brand is the most important intangible of the company . The brand is what remains in the minds of consumers when the products have already been consumed. The importance of the brand is in leaving an indelible mark on the heads of customers, a mark that is unmistakable, a memorable mark, which allows the products it sells to be consumed again and again thanks to the differentiation it achieves with respect to your competitors. 

We live in a world with a huge commercial offer of similar products or services. Everyday people face the dilemma of which product to buy, which service to choose. It is the Consumption System.

People make purchasing decisions based on a series of elements that have to do with the product itself, with the image of that product, elements that they perceive through the senses. But that’s only half of the elements that help us make that decision. 

The other half is in our head and is made up of those beliefs, opinions and experiences that we have received or lived and that, in some way, have to do with the product that we have in front of our eyes. The importance of the brand lies in its ability to synthesize feelings and experiences that are intangible into tangible elements.

Great Challenges Of Small Brands

But before explaining the importance of the brand in the development of small businesses, I would like you to see what are the challenges of small brands to survive in an increasingly complex market, in which the large ones pressure, the Internet does not you know if you are an ally or your worst enemy and customer loyalty is a luxury. 

Really, I invite you to analyze these points in your business and see if you can solve them.

Facing An Increasingly Transparent Environment

Brands have problems with transparency, but I think this is something that seriously affects all businesses, large or small. For me, one of the great challenges of small brands is that they understand that today’s consumers have changed . 

Probably influenced by the Internet, we transferred the levels of communication and transparency from Social Networks to the Market and we demand that small businesses be sincere. 

Until now, small brands have tried to protect their reality from the outside to shield and secure their business, but right now there is more to gain than to lose. In a world as exposed as the current one, with thousands of people who are linked to us and who have the communication capacity provided by the Internet, hiding weaknesses makes us vulnerable . Precisely when it comes to information and communication, information is not decisive when it is known to everyone. 

Focus On The Consumer Experience

Without a doubt, another of the great challenges for small brands is the need to focus on the consumer experience . In a hyper-connected world in which everything is competition, the difference between buying goods or services in one store or another is in the added value that a brand can offer.

We can buy products without added value in any business, but when we find a truly differentiated offer in a small business, we do not hesitate to buy there, pay more for “the same product” and become almost definitively loyal to the brand. Small businesses have a second chance if they unite the power of the Internet with its ability to reach each of us .

I am not saying that all the small brands are going to become Zara, I am saying that thousands of small brands continue to have a place in the market despite the fierce competition from large stores.

Restore Confidence

For this, it is necessary to regain the trust of thousands of customers. The third of the great challenges for small brands is to regain their own trust in order to regain that of their customers .They live constantly thinking about equating themselves with the greats in a battle that interests the latter much more than the former. 

I have been arguing for many years with shopkeepers, merchants and small self-employed who try to compete with the big ones with the same weapons: more time, more product, less price.

Also Read : Everything You Need To Know About How To Save Images In Windows 10

Technology Monk

Technology Monk is a right destination for the people who want to consume latest news on Technology, Gadgets, Business, Marketing and Finance. It is the one-stop solution for all the queries related to the technology.

Leave a Reply

Your email address will not be published.