Benefits for having a strong brand
- Loyalty drives repeat business.
- Brand-based price premiums allow for higher margins.
- Strong brands lend immediate credibility to new product introductions.
- Strong brands allow for greater shareholder and stakeholder returns.
- Strong brands embody a clear, valued, and sustainable point of differentiation relative to the competition.
- Strong brands mandate clarity in internal focus and brand execution.
- The more loyal the customer base and the stronger the brand, the more likely customers will be forgiving if a company makes a mistake.
- Brand strength is a lever for attracting the best employees and keeping satisfied employees.
70% of customers want to use a brand to guide their purchase decision.