Building Brand Power for Strategic Growth

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These days, management and boards of directors have acknowledged successful branding as a substantial growth driver, be it via non-traditional advertising, unique partnerships, influence marketing or digital communication. Nicholas Goh, Managing Director of Verztec Consulting Pte Ltd, shares a tip sheet on the branding strategies will help contribute to the growth of businesses.

These days, management and boards of directors have acknowledged successful branding as a substantial growth driver, be it via non-traditional advertising, unique partnerships, influence marketing or digital communication.

There is wider recognition that brands are not just perceptions. A brand is "a promise kept," according to John Greening, an associate professor of integrated marketing communications at Northwestern, and a former ad exec at DDB in Chicago.

Indeed, successful branding strategies establish trust and are driven by relationship strength. Such strategies often act in the best interests of the customer and are aligned with the goals of the organisation. They encourage clients to stay longer, create more value and refer the program to colleagues, friends and family.

Verztec Consulting Pte Ltd, an ISO 9001:2000 Certified Multilingual Communication Services Provider, understands the importance of building brand equity in the competitive linguistic services marketplace.

Its marketers are constantly on the alert for ways to better influence customers by taking a fresh approach to handling brand perceptions. The organisation's core tenet is that branding done well should make the buying experience effortless; clients will develop a familiarity with the brand where they do not have to think about what they are buying.

Nicholas Goh, Managing Director of Verztec Consulting Pte Ltd, shares a tip sheet on the branding strategies that will help contribute to the growth of businesses..

(1) Define the brand identity.

An organisation must have a distinct brand identity. In convincing clients about the value-added proposition of its services, it must be able to first articulate and communicate its capabilities and competencies. This is especially pertinent for an organisation breaking into a novel market: while it has to experiment with multi-pronged strategies, it must stay true to a sense of purpose.

An organisation's brand identity, which serves as a touchstone against which it can evaluate its choices, is often a more enduring statement of strategic intent. Verztec defines its brand identity by identifying core values and evaluating its competencies.

The organisation is thus able to chart its communications efforts, which focus on its commitment to providing excellent internationalisation and globalization services that utilise her strengths in consulting, developing and globalizing into multiple languages, and also to rigorously test, host and maintain enterprise-wide applications at world class level.

(2) Focus on practical action.

Many marketers, carried away by the myriad options before them, often try and explore too many channels at a given time. They embark on a number of robust plans only to become indecisive when they realise that every branding opportunity will alter the growth track of the organisation and thus, necessitate another change in strategy.

They would do better to try out some strategy as a starting point; the consequences will give them a better handle on the real issue they face. Upon identifying the brand messages that the organization wants to bring across, organizations can formulate strategies that will deliver results in the various niche scenarios. This can be followed by a ranking exercise that prioritizes a small number of them that will produce the most impact.

Specific measures can then be introduced to support these micro-strategies. These include initiatives such as surveys, experiments, innovative pilot programs and test prototypes to further augment the organization's strategies. Organizations should encourage risk taking and celebrate thoughtfully implemented initiatives. After all, unexpected and even unsatisfactory results contribute to organizational learning.

(3) Create incentives.

To build clients' affinity to a brand, an organisation must create the ability to connect customers of different properties with a common loyalty program -- one that rewards frequency and incremental revenue with exclusive experiences or incentives.

For Verztec, this means implementing the demanding infrastructure needed to meet a multi-continent, multi-currency, multi-language customer base. Deployment of tools such as enterprise-wide workflow and knowledge management platform, content management systems and translation tools with continuous maintenance of data libraries and archives assist clients by providing accurate and timely multi-lingual solutions. These rigorously-maintained repositories containing industry-specific as well as client-specific glossaries allow clients to enjoy greater cost savings as the organisation can retrieve client preferences within a shorter time frame.

Ultimately, the value to organizations of brand equity as a concept depends on how they use it. Brand equity can help organisations focus, giving them a way to interpret their past marketing performance and align future marketing programs.

Organizations who build strong brands have embraced the concept and use it to its fullest to clarify, implement, and communicate their marketing strategy. When applied successfully, the results of branding strategies can make an impact on the organisation's growth and revenue streams; establishing a powerful, personal and long-lasting experience between an organization and its clients.

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