Marketing: How to Keep Your Brand’s Good Name IntactPosted: September 5, 2017 | |
I have met many business owners that have worked hard to build their business and to establish their brand’s good name. Many of them don’t anticipate damage that can be caused by one disgruntled employee or a less than favourable online review. In today’s competitive marketplace, I know it takes hard work to stay one step ahead of the competition, and maintaining a positive image to the public and your customers is vital to your business’ longevity. I have outlined some ways your company can protect and promote your company’s good name.
Why is it so important to keep your brand’s reputation intact? Thirty years ago, as much as 95% of the average corporation’s value consisted of tangible assets, according to a report by Thomson Reuters and Interbrand. Today, 75% of the average corporation’s value is intangible. This means that your company’s greatest asset and its value is its name. Perception has become reality and how people perceive your brand will dictate whether or not they want to do business with you. Are you seen as honest, trustworthy and ethical? People want to do business with companies that they trust and share values with, even if that company’s products and services are of similar quality and cost to that of their competitors. Your company’s good name is what differentiates you from your competition. I’ve outlined below a few tips on how you can keep your business’ good name intact:
Keep your brand’s good name intact:
- Enhance your corporate image by communicating your successes. Feature awards, testimonials and great press on your website and in social media.
- Associate yourself with governing bodies that stand for quality and integrity within your industry. By joining, you’ll be able to use their logo which in many cases will provide instant credibility. Be selective and only join the organizations that will create the most positive impact. Once you’re a member, feature their logo prominently on your website and other collateral.
- Use social media wisely. It can be your best friend or your worst enemy. I believe a well thought- out social media plan that targets your audience can help ensure that only designated employees post on social media and that they stay on message, appear transparent and trustworthy.
- Ensure that your messaging is authentic. No one wants to read what they perceive to be advertising.
- Monitor what’s being said about your company on the Internet and in social media. Designate someone to check the Internet and social media daily for anything related to your company.
- Respond immediately in a positive tone if a negative post is spotted. Don’t argue the point. Never respond in anger. If a customer had an unhappy experience, apologize and let them know you’ll try to make it right. Offer to contact them privately offline. Give them every reason to become a satisfied customer.
Are you doing enough to keep your brand’s good name in tact? If you’d like to discuss how TAB could help you with your business, find out if a TAB Board is right for you!