Tag: branding - Page 2

Branding is a fundamental component of all businesses and accounting firms without exception. Therefore, a strong brand helps accounting firms to stand out from their competitors and differentiate themselves within a crowded marketplace. According to a statistic by Harvard Business Review, 80% of people consider brand trust as an important factor in the buying process. Thus, a well-established brand is more trusted than a no name brand. Known brands come with a set of associations that consumers rely on to make purchasing decisions. These associations can be negative or positive, but positive association positively contributes to brand recognition.

In today's highly saturated marketplace, standing out from the competition is crucial for the success of any business.

Public Relations (PR) is a term all of us have heard of. We have seen it come into play when marketing agencies use it as a strategic communication tool to attract audiences. It is ultimately the forefront of marketing, forming businesses a path towards the construction of marketing approaches. However, it seems that marketing agencies do not prioritize PR, and they in fact neglect it. Even though PR focuses more on traditional media rather than new media, it still is crucial in this contemporary day and age. PR helps to set a foundation for brands to express their unique selling point and encapsulate brand stories to appeal to consumers. This is to not be confused for advertising, as they are two different things. Overall, PR is the best for brands to stand out and optimize your marketing strategy to the fullest.

“Good marketing and good strategy are both about making choices that build and maintain a particular set of capabilities that enable a company to outperform its competitors.”- Roger Martin

Marketing is important for any firm whether small scale, medium sized or a billion-dollar company. There is a common perception that a billion-dollar company employs some special marketing strategies which cannot be adopted by the small and medium enterprises. However, this is quite untrue. Of course, the scale of adopting a marketing strategy may differ based on the marketing budget and capabilities, however, it is totally possible to take a leaf out of the book of any of the fortune 500 companies for their marketing strategies.