Introduction
Company’s Brand – Brand essence, also known as a brand mantra, brand promise, or rallying cry, depicts a brand’s soul in a single thought. To gather the focus of all employees’ right from top management to lower levels, companies generate a brand essence. As Peter Drucker, a famous management guru, once said, marketing and innovation produce results; all the rest are costs.
The purpose of developing a brand essence is to create a single focus point across the board, which, in return, creates synergy, thus enabling companies to deliver their brand promise. Therefore, brand essence is fundamental to set your business to stand out in a homogenous global market. The alivea not only fixes your brand essence to its core but also develops formulas to assess the valuation of such an intangible asset.
How Brand Essence Works?
Brand essence is like a north star, giving purpose and direction. Brand essence shapes direction both for internal and external elements. Formulating a corporate brand identity by defining mission and vision, culture, and ethical values, it entails a sense of purpose for every individual coming to work in the morning, giving them a clear definition of what they will offer.
Similarly, there are elements about the overall perception of the company in the eyes of external stakeholders, including customers. Making cohesion between internal and external brand promises ultimately designs a brand message, which boots sales by making loyal customers and reducing costs.
B2B vs. B2C
Branding is core to generating sales for organizations of all sizes. We see most companies in B2C business opt for branding while B2B usually stays quiet. However, a study spanning 16-year tenure revealed other results and found branding is as essential for B2B as it is for B2C.
Making your customers realize your essence through a well-adopted branding channel is the most critical factor for success.
Brand Promise impacting Sales
Only a thoroughly disseminated brand essence can lead to more substantial brand value. Only a strong brand positively affects customer loyalty, sales, and overall market valuation of the company. Having a large customer base and attracting potential customers is only possible if a brand is perceived as prestigious and can deliver its customer promise.
A strong brand can dictate product prices, and negotiating costs can undoubtedly increase sales. It is also important to keep delivering the same level of brand promise to retain loyal customers because a loyal customer costs less than adding a new one.
Conclusion:
Company’s Brand – Sometimes branding easily and quickly leads to sales, but a brand promise leads to loyal and long-lasting sales, this is more critical to achieving long-term organizational goals. Developing a comprehensive understanding of the purpose of an organization may require a lot of time spanning over the years.
Still, once a brand’s image is portrayed, it heftily generates sales. Such a vital brand essence not only drives short-term objectives but also surges the brand’s market value. The study ‘Hidden wealth in B2B Brands’ concluded that “the corporate brand is responsible for, on average, 7% of stock performance.”
Reference:
https://market.grantmarketing.com/blog/how-does-your-companys-brand-essence-impact-sales
- Written by: admin
- Posted on: March 28, 2022
- Tags: brand essence, brand message, brand promise