A brand is a name, term, design or symbol that references your company, the services and products you offer and distinguishes you from market competitors. Today’s brands represent a company’s character, personality, morals, its place in society and the feelings consumers associate with it. And thus the term: corporate branding.
Proper branding can result in higher sales of not only one product, but also other products associated with that brand. Within the realm of real estate development, a company’s reputation can go far in building a following or a brand. Word of mouth by those who have purchased a home and who have had a good experience often translates into additional sales. But beware, as word of mouth travels both ways. Once your brand is associated with an ill-fated occurrence – shoddy workmanship, for example – the bad perception is hard to shake. The psychological aspect of what the brand represents is nearly as important as the brand’s nuts and bolts.
Quite simply, the brand identifies the product, and branding helps secure your company’s reputation and what your customers know about you. If you’re not branded your customers likely won’t have a lot of loyalty toward you; if you are, it makes the sales process much easier. A successful corporate brand is akin to a partnership formed with the customer.
Informed customers are very savvy and very aware of brands. Picture standing in the medicine aisle of your grocery store. Consider all those products lining the shelves: Are you buying Band-Aids or bandages? Kleenex or tissues? Why choose one over the other? A good brand speaks to people by hitting the customer on an emotional level. A great customer following isn’t always about how much money the promotion costs as it is how viral it can become through successful brand marketing and by reaching the right buyers.
For companies just starting up, the dominance of the brand giants might seem intimidating, but have no fear: the presence of the internet and social media platforms have made it easier – and cheaper – to gain recognition. Creating a brand with lasting value isn’t easy, but it’s incredibly important to establish a foundation in the marketplace and understanding that through successful direct marketing, your brand too, can shine.