Building a Name in the Web is Only Step 1
1 December 2011 – Branding as a business goal is as important in the Internet as it is in real life, but building up a name in your niche is just the first step, the next thing to do is leveraging your reputation to boost income.
Branding is an endeavor that spans the lifetime of a product or service in the real world. When successfully applied, it boosts the cost of that company’s goods just by being graced with its brand. Would you think a pair of sneakers would cost as much without the Adidas brand?
The same thing can happen in the Web, for small and medium businesses settled within market niches. So long as your become the go-to brand in your niche, you can expect the pull of your brand to bolster your income in more ways than you can imagine.
Not only can a good reputation allow you to leverage your brand or company name to raise the price tags on your services in light of high quality, even if you don’t do anything, positive returns on your branding investment will make themselves known. For one thing, your reputation makes you a market niche leader. Your take on the niche and its trends will be highly respected and anticipated. Take this a level further and you can be a niche mover, the way Google is for search engines.
Of course, the scale is only analogous. You need only be a small company within a niche to become reputable anyway, and not a large scale corporation within a greater market. If you know how to leverage your reputation after building it up, you’ll reap a lot of rewards.
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