In the world of modern business, brand image is crucially important. It can play a key role in determining how customers, clients and business partners view the organization and can have a significant impact on profitability. Put simply, today’s consumers wish to trade with organizations that are seen to be dependable and reputable and will vote with their wallets, ignoring companies that they perceive as having poor brand image or business reputation. Every business owner and leader should put boosting brand image, conducting effective PR campaigns and building brand loyalty to the forefront of their business activities.
In this article, some of the key ways that businesses can ensure that they benefit from a positive brand image will be explored in detail. They may range from building positive connotations with the brand by visibly supporting causes that resonate with their client or customer base to ensuring that a range of business activities take place in a responsible manner that can be viewed in a positive light.
Supporting local communities or charities
One key way in which businesses of all sizes and sectors of operation can improve their brand image is by supporting local community initiatives or charitable organizations that resonate with the core values of their customer base and key stakeholders. Here are some examples of companies from all areas of industry that are making meaningful contributions to charity work or community-based groups that operate on a non-profit basis.
The most important consideration when choosing a charity or good cause to support is how their values and mission goals appeal to your customers. Ideally, in-depth market research should be undertaken to fully understand what your target markets’ values and aspirations are. Holding focus groups with members of the public who fit your target demographic can be a perfect way to get detailed information on the types of charities or community groups that are held in high esteem, and this can be a vital way of choosing which charities or community groups to support.
Associating with professional intermediaries
Many corporations seek to increase their business portfolios by buying up other businesses. This can be a key way to increase revenue streams and to grow an organization whilst venturing into other marketplaces. However, when considering large-scale business acquisitions or the sales of firms, it is incredibly important to deal with knowledgeable and professional intermediaries who can facilitate these acquisitions and sales.
In terms of the accountancy sector, it is important to deal with leading CPA intermediary organizations when buying and selling firms. This will ensure that complex acquisitions and sales take place effectively and that the wider business community can see that well-planned ventures are executed. At this high level of business, smart decisions can lead to higher company stock values and improved business credibility, which leads to an elevated brand image for the parent company.
Being environmentally aware
As a final key example, brand image and improved public relations can be cultivated by ensuring that all business activities take place in an environmentally responsible manner. This can include ensuring that waste levels in production processes are kept to an absolute minimum, intelligent ways to reduce the carbon footprint of an organization are explored and by supporting environmental initiatives. Companies that are found to operate with little regard for the environment will eventually experience a poor brand and corporate image. In time, this can directly impact sales, as consumers will choose “greener” organizations to trade with.