In a world where consumers are spoilt for choice, it is most important that you create a differentiation factor that gets you to stand out. As an entrepreneur it is important to build a strong and lasting company brand that helps you stay one step ahead of your competitors.
The UAE has always been known for having a strong entrepreneurial spirit and culture. As part of the UAE’s Vision 2021, it aims to be the best in world in entrepreneurship. And through its relentless efforts and numerous initiatives, the plan is working and well on its way to becoming a reality. Social Networking platform LinkedIn concluded earlier this year that the number of members who identify entrepreneurship their job function has a growth rate of 98.3%. This was mainly due to the rapid growth of e-commerce, which enabled entrepreneurs to get their ideas off the ground much more conveniently than before. It also led to a large increase in female entrepreneurship in the country.
In the UAE, it is absolutely necessary to invest in your company’s identity and reputation in order to become, maintain and nurture a successful enterprise. Investing in such intangible goods may seem less rewarding in comparison to tangible ones like inventory, office furniture, etc. However, your brand identity could be your greatest asset when well planned and executed.
A compelling brand strategy provides great opportunities to establish customer loyalty, positively influence purchase decisions and drive business results. Brand identity and reputation also create significant opportunities for entrepreneurs to build substantial brand equity and goodwill that influences the company’s market value, which in turn unlocks hidden opportunities and boosts the potential for the future.