Mar 11, 2005

Branding: Comment - Invest in your town and you will reap a payback in loyalty

As major companies scramble to get a piece of the action in the explosive economy of China, or any developing nation for that matter, it is important to sharpen or intensify focus on the most important thing, the customer.

Branding: Comment - Invest in your town and you will reap a payback in loyalty

The customer, in this case, in its entirety is not just the consumer or the end user, but the city, the government and the community that have provided/created the opportunity for the business.

Branding your product successfully in a new city is about contributing back to the place/location so that the city and its people will develop trust in your company. Trust is imperative to build a reputable brand with a loyal customer following. There are very few parameters stronger in brand building than the perception that your company cares enough to reinvest back into the city or community in which it is profiting from.

One such option is to create a civic development fund, which could help secure lasting partnerships with the local governments and build solid relationships with local businesses. Such a fund can be used to fund conferences, create education and training programmes, enhance tourism and promotions for the city itself.

Investing back into the city and growing the market is a long-term strategy but one that works well in brand building and developing lasting customer relationships. You want your business to thrive in the local environment and what better way than to position yourself as the key player in helping to promote and develop the city and its people. Giving the city a brand image will raise its profile and gain more awareness in the world and by association, will position your own company and products as key players in the place/location. Your company brand value will ultimately be worth much more in a place that is positively perceived than one that is not known or positioned well.

Whether you're selling appliances, cars or beer, the more you help to develop the city and market that you want to sell to, the more customers you'll attract. After all, a brand that is known for being caring, community oriented and making a difference is a brand that people would more likely be loyal to.

Source:
Campaign Asia
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