“What makes any company famous?”
These two are the most common responses I receive from participants whenever I conduct a workshop on brand-building. And these responses can be extrapolated to a whole host of companies who have the misplaced belief that brand-building can be achieved mostly through advertisements and promotional campaigns. Such campaigns, often high decibel, involve significant costs and time. Due to limited resources, this discourages many small and medium-sized companies (SMEs) from undertaking a well-planned brand-building strategy. At the same time, such campaigns are also received with limited acceptance by consumers because it is the company itself that launches advertisements and promotion – viewed as a case of the company blowing its own trumpet. That puts the Return on Investment (ROI) of the campaign under question, which further limits the attention SMEs put towards the brand-building exercise.