A “bold and authentic” approach to building a brokerage brand not only ensures a company stands out in the marketplace but it could save money in the long-term, according to Australian-based marketing company Brand Intellect.
Simon Rowell, founder and managing director of Brand Intellect, told Insurance Business that Brands built with this approach require less money to be spent on marketing and advertising over time to generate and maintain brand awareness.
“This is because they are remembered and are clear about their proposition,” he said. “So strong branding, as well as helping you increase revenue, can also help decrease expenses over the medium to long-term.”
It seems it is not enough for a company to survive on word of mouth, as Rowell explained.
“As one of an organisation’s most powerful assets, branding should be at the heart of most business decisions. Brands inform, differentiate, motivate and persuade and should act as a compelling roadmap for customers, employees, shareholders and third party stakeholders.”
Although it might be tempting to opt for a cheaper brand design, Rowell warned this would be to the detriment of the business.
“Don’t scrimp on brand design,” he said. “There is a temptation to seek out cheap overseas online design assistance, but this often comes at a cost in terms of originality and quality. Remember your logo is often one of the first impressions your organisation makes, and poor design often lets companies down.”
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