If business owners were asked on a marketing exam: Who is the target audience of your branding efforts? My guess is 9 out of 10 would answer “Our customers.”
That answer would garner only one-third partial credit.
While it’s a given that brands are developed with the customer in mind, you would be selling yourself short (by about 66%) if your branding efforts stopped there. Your brand does more than just attract customers. It also attracts valuable employees and business partners.
Think about your business for a moment. Let’s say you had every Fortune 500 company as a customer, but you lacked the skilled employees to manufacture the quality products they demanded or the high level expertise needed to advise them properly. How long would you retain their business? Employees want to work for the best companies. They want to be proud of where they work. Having a strong brand not only will attract the best and the brightest, but it will help to retain them. The payoff here is that employees who are in alignment with their company’s brand philosophy are much more likely to provide a higher quality of customer service. This will help to further the brands expansion and increase the number of opportunities for repeat business.
The same holds true for your vendors and strategic partners. No one can run a business in a vacuum. Whether it’s IT or strategic marketing services or a good telecom provider, we all rely on vendors and strategic partners to help us run our company and to serve our customers. On the flip side, your vendors aren’t just looking for just any customers. They want the best companies as their customers. And, they will work harder in terms of pricing and service to earn and keep the top businesses in their market. They do this because they know having quality companies as customers will help to recruit, excite and retain employees as well as impress prospective customers which may help them earn more business.
So yes, one of the benefits of a strong brand is the ability to attract customers, but don’t discount communicating your core brand message to your employees and business partners. Your to ability to attract the best and most capable employees and business partners will play a crucial role in your ability to move your business forward.
For a no risk assessment of your brand or to simply meet and discuss your company’s branding efforts, give our brand marketing agency a call at 440-449-6800.
Click here to read the Benefits of a Strong Brand e-book.