Businesses rely on their brand to create an identity for themselves that separates their company from their competition. Branding your business is an ongoing process that warrants careful thought and consideration. An increasingly popular trend in branding is emphasizing how your company makes a difference, and for good reason.
As the generational makeup of the market changes, certain trends are becoming more apparent. Among them, the desire for businesses to care about more than just producing goods or services. A strong majority of consumers prefer the businesses they shop at to be a brand with a purpose. This is especially apparent among the millennial and Gen Z populations. This means that in order for businesses to appeal to those consumers, they need to make it known that they as a business are invested in doing good. Making that a part of the company's brand is a great way to get the word out and appeal to those consumers.
Having your company brand include how much you value making a difference attracts more than just like-minded consumers to your business. It also attracts like-minded talent. There is a shifting expectation on the part of employees that employment be more than just bringing home a paycheck. People want to feel good about the work they do and the business they work for. In fact, a little over 25% of people have reported that finding the opportunity to do more meaningful work was the main thing that attracted them to a new position. If you want to find and retain employees that embody your company brand, find a cause that people want to get behind and make that a part of your branding.
Small businesses often rely fairly heavily on the support of their local community. Especially during times of economic hardship, the ways in which people support businesses can mean the difference between a business staying open and having to close its doors, possibly forever. When at its best, the relationships between businesses and communities can easily be described as being symbiotic. The more each gives to the other, the more they both thrive. Businesses who work to better the communities they are in only better their surroundings and endear themselves to those living there. While something of an indirect benefit, it's still worth pursuing.
Your company's brand is a huge part of your identity as a business. It's an important way you can separate your business from your competition. By making a difference as a company, and making that a part of your brand, you increase your appeal to a growing portion of the market. You attract like-minded talent. And you have the opportunity to build the community. That is why it's worth it to businesses to make a difference.
Establishing a solid brand image is critically important to your business’ success. We can help! Contact us to get started.