Internal brand/culture is more than just this – it is about employee expectations and their behaviours (adhering to what makes your Company so unique). So how does internal brand/culture really have an effect on revenue?
a) Employer Branding attracts the best talent
With an aligned internal brand/culture your company goals are much clearer and your expectations defined. Your company will attract the type of talent who readily seek to identify with your company’s goals, mission and values, etc. You’ll want the type of employees and managers who ‘buy in’ to these values. As a result, your people will dominate in their sector and produce better financial results for the company.
b) It fosters good company perceptions
Today, your company must be perceived as authentic and ‘giving back’ to the community. Culture of the company is paramount in such a dynamic marketplace which can very quickly turn on a company both from a financial and PR viewpoint, using available technology. Being ‘real’ and authentic will command greater respect from your customers, stakeholders and the general public.
c) Creates accord and harmony
Well-defined internal brand/culture unifies individuals into cohesive teams. Such a single, unified direction will align your talent’s energies and purpose and ingrained culture of this type has the ability to know no bounds due to the infinite resources we humans possess.
d) Finally, and perhaps the biggest benefit to your company
Investing resources into activities which further your company’s mission and purpose; and less into having to ‘manage’ your people – i.e. getting in the right talent and leveraging them to the fullest.
Statistics from Future of Human Resource Management by Meisinger and Ulrich further confirm this:
*Companies with a clear internal brand, outperform their competitors by 33% in customer retention.
*Culture driven companies outpace their sector in sales growth by an annual 51%.
*These companies are 38% more profitable than those without a defined culture.
*It has been measured that 46% of business financial performance results from corporate culture.
Externally, branding has a positive impact upon revenue by providing:
a) Discernible Point of Differentiation
Differentiates your company offering over your competition and makes the customer’s choice far less price reliant. It offers your customer the opportunity to relate and care; i.e. a positioning strategy which compels your customers to build a relationship with your company/product/
b) Image Consistency
There is a consistency across all marketing actions and materials, this allows us to avoid the discrepancy of images and messages to the target customer. This brings about a trust in the brand image and actions of your company, making you all the more appealing as a confident and successful operator.
c) Real Brand Values
Customers need to know they can rely on your company. Your brand values must be reflected through your team’s behaviours and actions – these values being the foundations of your company actions.
d) Focused Offer
The best model for efficiency; this avoids dilution of brand messages and bases you in the position to be a leader in your sector/industry. It also ensures ROI, more effective marketing spend and positive sales growth and activity.
e) Creating favourable consumer preference
Favourable brand identity leads to customer brand preference and brand loyalty toward your organisation;
One last point, your Organisational Branding is an investment, not an expense!
Unfortunately, many companies perceive their brand development as an expense. Your success will come from ‘connecting’
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