Your brand is the essence of your company. A strong brand can do anything it sets out to do: endorse good causes, unite people, or just make you lots of money.
People will identify with your brand and be loyal to it. In this line of thought, the brand is everything. A strong brand can weather any storm. The brand will convince clients to make purchases even at inopportune times.
If you want to expand on foreign markets, you can use the strong brand name to raise capital for your overseas projects. Big lenders trust big brands.
You can use the brand itself as collateral for a big loan.
It can take years to build a brand, but once you do, it will keep you in business for decades. It takes a lot of money to build a strong one. You may even have to hire a famous actor to endorse the brand and professionals to develop outstanding designs of your products, but it’s worth every cent. A brand can last for generations – Chanel, Dior, Versace… On that note, the brand often outlives the founder. The brands live on even after the founders are no longer among us.
To grow your brand, there are different advertising channels. Some people don’t go for branded products, and you’ll never win them over. We mean those types of people. They’re not bad people or anything like that – they just don’t care about the brand. When they go shopping, they’ll buy what they think is the best deal. A vast majority of consumers are like that.
Those who care about brands, however, are the ones you should be catering to. They are not mainstream consumers. They’re particular buyers. They know what they want and go to special stores to get a specific product. Those who focus on the brand have an image of the product they want to buy in their mind before setting out to get it. They have an idea of the product – that is the idea a successful brand creates. Once it takes hold of a buyer’s mind, it makes their imagination fly.
When you begin building a brand, you don’t necessarily have to realize grandiose plans – nobody (except maybe you) is expecting you to become the next Chanel overnight. Moderate success is more than what many startups can hope for. You need an image that is, to you, the essence of your product and the way you want your product to be perceived by your clients.