A consumer decides to stick with a brand or not in 3 to 7 seconds. Without a strong company brand and positive image, a business can no longer survive across the competitive commercial and digital landscape. An organization could offer excellent products and great services, but if their reputation has been tarnished and their brand is suffering, they aren’t going to do as well.
A company brand is defined by the marketing practice of creating a name, symbol, or image that identifies and differentiates one organization from another. Though consumers are exposed to an average of 3,000 ads and promotional messages every day, by implementing effective and creative brand strategies, companies can outperform their early projects and reach many of their goals, and vice versa.
A well-placed sign, for instance, can even expose consumers to a company’s brand between as much as 50 and 60 times a month.
Once an organization’s brand has been created, it’s time to promote and examine on a consistent basis. Here is a helpful formula to follow when developing a successful brand:
- Testing — First, test out new ways to market and brand your products, services, and your entire organization.
- Reviewing — Next, review what strategies worked well and what you can do to improve your brand strategy and company image.
- Improving — It’s important to note that you should never stop improving your brand because you can also do more and be better. Enhance the image you already have by any means necessary.
There is some concern, however, within the marketplace that the way consumers and business owners alike view company brands is changing.
According to AdWeek, though branding will still be imperative, big agency names might not be as relevant as they once were.
Insufficient self-branding, commercial limitations, and client-dedicated units have led to the decline of once-potent agency brands.
“It seems to me that the devaluation of agency brands and the devaluation of creativity are moving in lockstep,” said Bob Hoffman, Ad Contrarian blogger and BadMen author.
There are so many emerging startups that are trying to become “the Uber of…” Rather than developing an authentic and creative brand approach, companies are simply piggybacking off a model that worked well for one particular industry, which isn’t as effective.
“Ten years from now, I’d expect there will be far fewer agency brands,” added analyst Brian Wieser.