If you're growing a business, you know that having a strong brand is crucial. It positions you, helps you stand out from the competition, builds trust with customers, and guide all your marketing and communication efforts. But the benefits of a strong brand don’t stop at external communications. A well-crafted brand strategy can also have a big impact on your company culture. And this, in turn, is key to delivering customer experience.
‘a strong brand can increase the value of a company by up to 20%’
According to a report from the Association for Talent Development, ‘a strong internal brand can create a sense of pride and unity among employees, which in turn can lead to increased motivation, productivity, and customer satisfaction.’ It's easy to see why this is the case – employees who understand and embrace a company's brand are more likely to be motivated to deliver on the brand's promise and to go above and beyond for customers.
‘80% of executives said organisations with a shared purpose command greater customer loyalty. 89% said such businesses will have greater employee satisfaction.’ HBR / EY
In addition to boosting employee engagement and retention, a strong brand culture can also help a company attract top talent. Companies with a clear and compelling brand message are more likely to attract employees who are aligned with the company's values and mission. When you’re looking looking to attract top-tier candidates in a competitive talent market, this is especially powerful. Plus, it makes sense to hire and reward people who strongly identify with your clearly-articulated values and purpose — and filter out, by self selection, those who are unlikely to fit your culture.
‘Your brand is a key factor in attracting top talent. It reflects the culture and values of the organisation and can be a powerful magnet for the best and brightest.’ David Aaker
An effective brand strategy can also drive overall business performance by helping to create a cohesive and consistent culture within the company. When employees are aligned with the company's brand and purpose, they are more likely to work together effectively and to be committed to the company's goals. This can lead to increased productivity and improved business performance.
‘Your brand is a living, breathing entity that is shaped by your culture, values, and behavior. A strong brand reflects a strong culture and vice versa.’ - Rohit Bhargava, author of ‘Non-Obvious: How To Think Different, Curate Ideas & Predict The Future’
Find out more about B2B branding and messaging, the brand strategy development process, and the benefits of using an independent consultant.
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For a growing business, it’s essential to have a strong brand that differentiates you from the competition and builds trust with customers. The benefits of a strong brand are well documented. But how do you begin to build one? Here are some key steps to creating an effective brand strategy that will set your business up for long-term success.