The end of brand image?
As marketing communications becomes more measurable than ever thanks to online techniques and the data that can be collected from them, it’s more difficult to justify brand development initiatives where it’s hard to quantify results.
Even so, there are ways in which brand image marketing does, in fact, create additional company value. Consider these factors:
- It can increase the number of branded products and services customers purchase from you, since many buyers value the quality associated with a strong brand name.
- It can attract more customers – directly or through word-of-mouth.
- Greater brand trust can accelerate the customer’s buying process, reducing the chance that something happens to nix the sale.
- It can attract better channel partners – those who want to be associated with a more powerful brand.
And last but not least, a strong brand image can contribute to reduced price sensitivities … whereas with weaker brands, “low price” is frequently the only card they can play.