In today’s highly competitive business environment every company needs to think of themselves as a brand. This way they will be able to build a place in their market and adapt to ever changing environments and competition. Build toward the future and win repeat business and create scalable strategic growth because of what and who they are not just because of what they sell or supply. If they stay in the sell or supply mode they will always be prone to new businesses offering the product cheaper and fighting for business they naturally should win. To do this will require for them to align their external and internal message so that they clearly define to their market why they would be the obvious choice of company to work with. Why what they offer or supply is so different to their competition. This will require them to initially think what market or business they wish or more importantly could realistically win and why they would like to build a business around it. From there they will be able to think about sales messages, sales cycles, materials required to facilitate the winning of the business and how they will support the business once won. The market has changed and business must change with it.
So why is a brand so important? Because it can often be worth more than the actual business itself. Take coca cola for instance. If they sold up, got rid of all of their assets, vans, property etc it would be worth less than half of what the actual company is worth on the open market. A brand will convert new clients; they will trust it quicker and once sampled will probably come back for more meaning that the actual brand itself has worth. It creates longevity and reduces churn.
Think about yourself what brands do you buy and why do you buy them? There are almost certainly other products that could do the same however you like the brands you use, so why change? The same can be seen in business and the decision businesses make. This is why a brand is key to today's ever changing highly competitive business landscape and why it is so important that companies invest in producing one.
Key benefits are:
To facilitate this process latitude created something called a brand insight where we revue the current business positioning, services and products and materials being used by the company and then look at the competition the business faces within their market. We then have a good idea of the market and the current situation within the company and our MD can then facilitate a one day, closed door meeting with key decision makers to investigate how and where the company could best place its efforts to build a brand within their market and take market share.
For further information and an understanding of what this process entails please download our brand insight brochure here
Latitude Solutions Ltd
t: 0208 920 3435
London N21 1LE