Branding might seem like a luxury, but it is an engine for sustainable revenue growth. When you have a powerful brand, your customers have a deep, gut sense of what your business stands for. And they will think of you whenever they (or their friend) needs your type of product or service. A strong brand is a key ingredient to converting first-time customers into repeat customers, and converting repeat customers into eager referral sources.
Here are 5 keys to creating a strong brand (and related traps to watch out for!). How does your business stack up on each of these dimensions, and what can you do to strengthen your brand?