Today on Branding Strategy Insider, we’re taking another question from the BSI Emailbag. Paul, a Reporter for Teradata Magazine asks these questions on analytics for branding:
Why is brand building important for businesses?
Brands allow businesses and their products and services to take on human qualities so that they can share values, make and keep promises and create emotional connections with their customers. These lead customers to be loyal to and advocate those brands.
Other business benefits of brands include increased:
- ability to charge a price premium
- market share
- market valuation
- negotiating leverage with business partners
- ability to grow beyond current product categories (if the brand focuses on customer benefits rather than specific product categories)
- ability to recruit and retain high quality employees
- clarity of vision
- ability to align the organization around a specific mission, vision and set of values
- ability to mobilize an organization’s people and focus its activities
How can data and analytics shape branding?
Continues @ http://www.brandingstrategyinsider.com