Branding is just as important for small businesses as it is for big names. Ironically some big brands work to try to look more like small firms in order to appeal to consumers that prefer to support independent brands. A brand is a promise. You know what you will get with a well established brand.
A brand is not just a logo or how a business is perceived externally. Branding at the heart of the business. So much so that in many ways you could almost substitute the word brand for business.
Branding is a way of defining your business to yourself, your team and your external audiences. It could be called the business’ “identity”, but only on the understanding that it embodies the core of what the business is and its values, not just what it looks and sounds like. Customers of all sorts of businesses are so savvy today that they can see through most attempts by companies to gloss, spin or charm their way to sales.
The benefits that a strategically defined brand can bring are the same as when people fall in love with each other. When customers connect emotively — because they share the same values and beliefs of a brand — it leads to higher sales and better brand differentiation. It also leads to loyalty, advocacy and can even protect your price in times when competitors rely on promotional discounts to drive sales. It can also give you the ideal platform from which to extend your offering or range.
Brand Finance Global Forum 2017
Last week Brand Finance released the 2017 Global Lists of top and most successful Brand. Our Chairman Tony O’Donnell & his wife Chris O’Donnell were invited to attend the prestigious Global Forum Event at the Mansion House in London. We would love to eventually see our Brand both RIFT Technology (the power inside SmartAct) and SmartAct appear on those lists. Brand Finance actually value our Brand for us and do predict good things for the company & the brands.
The VIP event was held at the Mansion House in London and was sponsored by Tata Consultancy Services & Novagraaf. A welcome address was given by Alderman Sir David Wootton & Lord Mayor Locum Tenens. David Haigh CEO of Brand Finance PLC also grace a talk.
The menu was fabulous, Tony & Chris had a great time. It was interesting to be among the big Brands that received awards and hear from them why they think they are successful.
One of the most interesting talks was from the lady who received the Lego award. She firmly stated that the most important people in their business was their customers – the kids !!! Yes the parent’s spend money but the products need to make their customers happy & be what they want. Their customers are mostly the kids of the world ! Big & small. Lego listen to their customers & continue to innovate to keep their customers happy. Two very important lessons for any business.