Benefits of building strong brands

Strong brands have a huge impact on the success of organizations — in the B2B world as much as the consumer market, says Brad VanAuken, Chief Brand Strategist at The Blake Project (theblakeproject.com), a brand building consultant. While researching the benefits of building strong brands for his book “Brand Aid” (AMACOM, 2003) VanAuken compiled a list of benefits of building strong brands based on empirical studies from a variety of sources.

1. Increased revenues and market share

2. Decreased price sensitivity

3. Increased customer loyalty

4. Additional leverage with vendors and retailers (for manufacturers)

5. Increased profitability

6. Increased stock price, shareholder value and sale value

7. Increased clarity of vision

8. Increased ability to mobilize an organization’s people and focus its activities

9. Increased ability to expand into new product and service categories

10. Increased ability to attract and retain high quality employees