In difficult times many firms see branding and marketing as an easy cut when it comes to boosting your bottom line. For, when budgets are tight, expenditure – even on the most basic things – is dramatically reduced. But one of Teesside’s rising service sector companies is urging firms not to underestimate the value of a brand. Marie Turbill reports.
“In today’s highly competitive market, investing in brand has never been more important,” says Kate Burton, Brand Director of Stokesley-based brand agency Better. “By building a compelling and robust foundation for a brand, consumers better understand what a company stands for. They seek it out, they identify with it and are prepared to pay a premium for it.”
When budgets are tight and the market becomes price-driven, she says, brand is what makes a firm stand out from its competitors. “In times of recession everyone is competing with everyone else and it becomes all about price. But there is only so far you can cut, so you have to look at what your brand can offer over and above to make it stand out from its competitors.”
At Better they believe it is the brands that stand for something that their customers believe in that rise above the rest. “They are the brands that appear to be listening to their customers and flexing to meet their constantly changing needs. These are the brands that will stand out above the rest and these are the brands that can comfortably ride a recession.
Mark Easby, Managing Director at Better, adds that a brand should be a reflection of a company’s DNA. Recognising what a firm truly stands for can influence all aspects of communication. “Understanding what the company stands for helps identify who its customers are, its position in the marketplace and its proposition to the customer. It can also impact on recruitment, the way things are done and its wider service delivery.”
Article written by Marie Turbill, Evening Gazette.