Like many, we’ve been thinking a lot about PR & branding for the bottom line, so that we can truly understand the impact of creating brand awareness for a stronger return on investment for our clients and businesses.
What exactly can brand awareness do for a company/organization? What precisely does PR and branding achieve?
- An introduction to your new business?
- The attraction of new customers? Generation of new leads?
- Sharing your unique value proposition?
- Encouraging people to buy more from your site?
- Converting your website visitors to purchasers?
- Driving customers offline and into your stores?
- Perhaps its to pounce on the competition? or maybe defend price points?
As far as branding goes, is it possible to protect price points in a competitive market by creating a defendable point of differentiation?
The study of microeconomics has proven that in a competitive marketplace there will be continual pressure to lower prices.So, could it be that simple promotional marketing activities will increase the competitive temperature in the marketplace while developing a strong brand value proposition will help defend and keep customers coming back to pay full price?
Does leading with your intellectual property and technical advantages help protect your brand’s price points?
Can creating customer loyalty through great PR and earned media coverage help defend those points as well?
And will continual PR and branding outlast any “me too” products that enter the market?
We are convinced that the answer is yes to all of the above. Strategic branding/PR and marketing strategies must be put in place in order to grow your business into a top brand that customers will come to trust and love and help keep you from discounting your prices.