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Branding for superior performance
by Nurul Syuhaida Bte Akmar
04:47 AM Jun 28, 2011
SINGAPORE - About 80 per cent of companies with a branding campaign achieved consistently higher incomes compared to those that did not, according to a study by consulting firm StrategiCom of about 100 companies listed on Singapore Exchange (SGX).
The study also showed companies that engaged in holistic branding that included internal communications, relationship management and market communications recorded higher average annual revenue growth rates from financial years 2006 to 2009. But most companies are still holding back from spending big bucks on branding.
At a branding seminar yesterday, experts urged companies to "think big" and stressed how vital brand-building would be to capturing a bigger market share.
Some 200 participants attended the seminar, "Create Your Brand Legacy", organised by the Association of Small and Medium Enterprises and held in conjunction with Singapore Prestige Brand Award 2011.
Experts say good brands are built on a two-way relationship. Customers engage with brands and vice-versa, and brands must connect with them emotionally
Mr Adam Khoo, co-founder & executive chairman, Adam Khoo Learning Technologies Group, said: "A lot of people always think that advertisements are only for established, big companies. But unless you first think like a big company when you're small, you never become a big company."
Almost half - 49 per cent - of the companies that participated in the study are engaged in all three areas of corporate branding: Internal communications, relationship management and market communications. Nurul Syuhaida Bte Akmar