Who wouldn’t want to join the ranks of the best? If you are a business owner, it is important for you to be in the same league as the best global companies to earn prestige and your customers’ admiration. Being one of the best also makes you attractive to employees, allowing you to keep and choose the best talents like Australia’s most sought-after companies to work for.
What do the best businesses have in common? Why do some businesses have all the glory while others are simply left behind? Why do some make it, while others don’t?
Their brands are wide-reaching.
According to Tim Grogan, LinkedIn’s Talent Brand Strategist, there are two things that make a company great: brand reach and brand engagement. Brand reach is how many people know you, while brand engagement is how much people want to be part of your organisation. If you have these two working in your favour, you have a wide-reaching brand.
“Brands are the most valuable intangible assets in business today. They drive demand, motivate staff, secure business partners and reassure financial markets. Leading edge organisations recognise the need to understand brand equity and brand value when making strategic decisions,”says David Haigh of Brand Finance, highlighting the importance of having a valuable, wide-reaching brand.
They know what tools to use to create brand awareness.
Unlike in the old days when brick and mortar marketing was the only way, the rise of the internet and digital advertising puts everyone on the market at an equal share of the playing field. With the right tools and strategies, you can gain a competitive edge, according to Bambrick Media. You can leapfrog the search engine rankings and draw more traffic to your website by identifying the right keywords, having relevant site content, and a robust social media presence that can reach out to millions of potential customers.
Whether you run a small business or a large company, your brand is what identifies you on the market. No matter what type of industry you’re in, you shouldn’t ignore harnessing the power of online marketing as part of your business strategy.