The term brand has a lot of weight and not something that is common. A lot of times, people use the term brand to refer to businesses that have gained some level of success, however, that is not all that true, because a business is successful doesn’t mean that it is a brand… being called a brand means that the business has created perception in the minds of its target customers. What this means that for customers to see a business as a brand, they already have a positive feeling about the business and there is an emotional connection between the customers and the business…. It is what people feel about your business, your product or your service… Keyword here is positive feeling and emotional connection… without these two, a brand simply doesn’t exist because it is not something that is tangible but instead it lives in the customers’ minds.
In my previous posts of this ongoing series of …Key Elements of Becoming a Successful Brand, I’ve covered other important elements of a brand like effective logo, marketing… in this post, I will be continuing with another very important element of becoming a successful brand and that is “Quality”. A lot of business owners don’t know how important quality is when it comes to the success of a business… a lot of times, they think it is about the aesthetics or the marketing that determines the success of a product… yes, they are important but quality stands on its own. A product can have the best look, but if it is not quality, then all the looks is in vein in my opinion.
Some businesses make a lot of sales by focusing on aesthetics… their products look super attractive but doesn’t have the quality to back it up… yes products like these would attract a lot of sales, but would be extremely difficult to retain those customers and turn them into recurring customers… This is one of the biggest advantages of a brand… brands like Nike, Apple, Amazon are all thriving till this day and making continues sales because of both their new customers and their recurring customers… recurring customers are very instrumental to the success of any business.
Yes, a business can make a lot of profit from new customers alone, but it would be very difficult for the business to be sustainable on the long run… that is why a lot of business have folded up because they weren’t able to remain sustainable or continue making profits to grow and sustain the business due to not being able to attract more new customers. This is where old and recurring customers becomes extremely useful. Quality has proven to be one of the major reasons why customers keep coming back. No one wants to waste their precious money on low quality products… if you look at top brands like Apple, Nike etc, high quality products is one of the things that they have in common…