-- The value of a good brand is something that has been known to people in the business world for centuries. While it is difficult to quantify the amount spent on branding by individual companies, there is no doubt that getting it right can take any company to the next level.
Becoming a trusted and well-liked brand is one of the main objectives of many businesses these days. Yet, too many entrepreneurs neglect to consider the steps that they should be taking to achieve a recognisable and trustworthy brand.
In a message to small business owners, Craig Ridley, Founder of YourBusinessCoachingClub, pointed out that, “businesses can live and die by branding.” Mr Ridley went on to state that, “small business owners should start off by considering what values they want to show in their brand image.”
Clearly, money is a huge factor in this issue, but it isn’t the only one. The biggest marketing budget for 2016 belonged to Pampers, which is the 50th most valuable brand on the planet and spent $8.3bn on marketing. The second biggest budget for the year was allocated by Gillette, which is the 28th biggest brand.
Different surveys have named the likes of Ferrari and Lego as the most powerful brands recently.
Smaller firms with far lower budgets need to spend their money wisely in order to make the most of their finances. In a message to his members, Mr Ridley said that, “spending money wisely on a powerful logo and a social media presence can go a long way towards building a business brand without spending a fortune on it.”
Once they have a brand that achieves a lot of acceptance in the market then entrepreneurs are urged to protect it at all costs. After all, this is the factor that sets them apart from their rivals and that lets customers know exactly what they are getting.
YourBusinessCoachingClub is an innovative online business coaching approach that gives small business leaders each access to expert advice and knowledge. With a low membership fee, it is a simple way for entrepreneurs to access the help that they need in coaching sessions and the global YourBusinessCoachingClub community.
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