Updated: Aug 16, 2022
So What Is Branding? Why Branding Is It So Important For Your Business?
When you look at this broad definition of branding, it can be a bit overwhelming to think about what is involved in your brand. In short, your brand is the way your customer perceives you.
Good branding increases the value of a company, provides employees with direction and motivation, and makes acquiring new customers easier. Whether we talk about building a new brand or rebrand the old one, there's always a strategy or plan that takes place in the right way. Everything we know about every product we use is because of branding. It is the link that connects the company to the customer and customer to the company.
Branding is a must for every small, startup, partnership and corporation. A good branding strategy can increase you product sales and revenue. There are many branding agency you can contact or do it by self by hiring an expert. Branding design is the best way to target the right audience.
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Here are 10 reasons that shows why branding is important.
1. BRANDING CREATES TRUST
As customers get to know your business they will begin to trust you. In order to build trust you must give customers a reason to test you out. The branding must be spot on as the first customers will determine how many more (or less) you will receive.
Exceptional customer service, experience with the product/services and positive online communication on social networks will keep them coming back for more.
2. BRANDING PROMOTES RECOGNITION
Branding gives companies a chance to let customers see the business for who we really are. This is the chance to be honest and open about what this company represents. The look, feel and message conveyed will separate you from the pack.
One of the major components of a brand is a logo because, as the “face” of a business, it’s what people instantly recognize. A professional logo design is simple enough to be memorable, but powerful enough to give the desired impression of your company.
3. BRANDING SUPPORTS ADVERTISING
Advertising is another important component of a brand. Both the medium chosen and demographic targeted for advertisements help build a brand. Branding can reach so many people in so many outlets. It reaches people offline, online, mobile and niche markets. It reaches the many products and services you currently sell and plan to sell in the future.
People wear brands, eat brands, listen to brands, and they’re constantly telling others about the brands they love. On the flip side, you can’t tell someone about a brand you can’t remember.
A good brand connects with people at an emotional level, they feel good when they buy the brand. Purchasing is an emotional experience and having a strong brand helps people feel good at an emotional level when they engage with the company.
4. BRAND BUILDS YOUR BUSINESS VALUE
A brand is an asset. What you present to the public is a huge chunk of your business. The worth is just as much as revenue and sales. A lot is at stake; finances, creativity and time is on the line. Branding will make the difference between revenue/sales and debt/liquidation. Companies who publicly trade on a stock exchange are valued at many times the actual hard assets of the company. Much of this value is due to the branding of the company. A strong brand often guarantees future business.
A strong brand will provide value to your organization well beyond your physical assets.
Think about the brands that you purchase from (Coca-Cola, Wrangler, Apple, Ford, Chick-Fil-A, QuikTrip) are these companies really worth their equipment, their products, their warehouses, or factories?
No, these companies are worth much more than their physical assets…their brand has created a value that far exceeds their physical value.
5. BRANDING PROMOTES SALES
Speaking of sales, branding will create sales and revenue for your business. You will make money based on how the branding marketing strategies work out. Customers will be tempted to test you out, and your results will determine if you make more sales.
Branding can also help a business get word-of-mouth referrals. After all, would a client be able to tell a friend about Discover, Learn & Grow if they couldn’t remember the brand of the learning center?
The most profitable companies, small and large, have a single thing in common. They have established themselves as a leader in their particular industry by building a strong brand, starting with a strong logo.
6. BRANDING PROMOTES DELIVERANCE
Branding is a proclamation. You hereby state that you will deliver on your promises and claims the company makes. Everything the company stands for should be spread throughout the organization too. Otherwise the company will be disconnected and customers will be confused and grow distant. If you are not willing to make promises you can't keep, don't state it on your brand.
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It is important to remember that your brand represents you. You are the brand, your staff is the brand, your marketing materials are the brand. What do they say about you, and what do they say about what you’re going to deliver (promise) to the customer?
7. BRANDING PRMOTES CUSTOMER LOYALTY
A good branding will create customer loyalty. Loyal customers will continue to support you in good and bad times. They will spread a positive message to people they know. Their influence will introduce new people to your company.
A good brand connects with people at an emotional level, they feel good when they buy their brand. Purchasing is an emotional experience and having a strong brand helps people feel good at an emotional level when they engage with the company.
8. BRANDING SECURES PROTECTION
Branding protects you from competitors who want your success. Without it they will have no problem making copycats of what made you popular and claim it for themselves. They can carry the same or similar products but they won't be able to take your style and originality away.
In today’s global market, it is critical to stand apart from the crowd. You are no longer competing on a local stage, your organization now competes in the global economy.
How do you stand out from the thousands or millions of similar organizations around the world?
9. BRANDING INSPIRES EMPLOYEES
Many employees need more than just work — they need something to work toward. When employees understand the mission of a business and its reason for being, they are more likely to feel that same pride and work in the same direction to achieve the goals the business owner has set.
Having a strong brand is like turning the company logo into a flag the rest of the company can rally around. A clear brand strategy provides the clarity that your staff needs to be successful. It tells them how to act, how to win, and how to meet the organization’s goals.
10. BRANDING CREATES NEW CUSTOMERS
Branding can also help a business get word-of-mouth referrals. After all, would a client be able to tell a friend about Discover, Learn & Grow if they couldn’t remember the brand of the learning center? The most profitable companies, small and large, have a single thing in common.
They have established themselves as a leader in their particular industry by building a strong brand, starting with a strong logo.
The best branding is built on a strong idea. An idea that you and your staff can hold on to, can commit to, and can deliver upon. Your brand needs to permeate your entire organization. When your organization is clear on the brand and can deliver on the promise of the brand, you will see tremendous fruit while building brand loyalty among your customer base.
Your brand is the identity customers come to know. The importance of branding with your business cannot be overstated. Branding is how customers perceive you and the blueprint of the business. May your brand be the symbol of happiness, comfort, loyalty and lasting impressions. Company branding usually begins with a new company logo. Quite often, companies don't realize the importance of properly branding their company.