Why brand matters
Research that we are currently carrying out amongst CEOs in the mid-size UK business sector suggests that the word ‘brand’ resonates less in boardrooms than the word ‘reputation’. However, it is widely accepted that your brand is your reputation and vice versa.
Ask yourself if your reputation, or your brand, is fully harnessed throughout your business...
- Does your reputation affect the level of investment required to attract and retain business?
- Does your reputation affect the level you can charge for your product or service, your ability to negotiate along the supply chain?
- Does your reputation affect the ability to attract and retain the best talent within your business?
- Does the reputation you strive to build in your business affect and prioritise the key tactical and strategic decisions and the associated investment levels that come with them?
- Does your reputation inform your approach to new product or service development decisions?
- Does your reputation inform what the media say about your business or your products and services?
- Does your reputation affect the levels of interest amongst potential investors in your business?
- Does your reputation help inform how the business reacts during tougher periods and how it focuses on the windows of maximum opportunity?
Your brand, or indeed your reputation, is the single most important asset of your business.
A business with a strong and fully integrated brand should be able to provide a unequivocal ‘yes’ to all of these and many more key business questions.