Branding is much more than just a memorable name of lofty words, an eye-catching logo, or a catchy slogan. When we think about a brand, we consider the overall image of the company, including the entire customer experience, the website, your social media experience, and the product or service itself.
"Brands are essentially patterns of familiarity, meaning, fondness, and reassurance that exist in the minds of people.”— Tom Goodwin
Why is branding important for your business?
If you think branding doesn't play a crucial role, you might want to think it over. Imagine you have two shoes in front of you, both have the same color, same price, same shape, same weight, same comfort, same material, same everything. The only difference is one has a Nike swoosh and the other has a logo you’ve never seen before.
Which one would you go for? Of course, the one with the swoosh. Because we trust the brand, and we know it’s of superior quality because it’s the way we perceive that brand. If your branding is done right, the value of your brand will automatically increase, your employees will be more productive and motivated, and your customers will be more satisfied.
But that’s not it, let’s have a look at why you should be concerned with branding your business:
Branding builds a strong business identity
More or less, anyone offering a similar product/service like yours offers the same package - good quality, great service, great value for money, etc. If you have a robust branding strategy, your business will get recognized more often. Naturally, people will make note of it, trust you more and do business with you more. If your branding is not cohesive, it won't stay in your potential customer's minds for a long and they’ll easily switch.
Branding connects your customers emotionally
Purchasing is an emotional experience. Brand intimacy is a deep emotional connection between a business and its customers. Having a strong brand fosters brand intimacy by helping people feel good at an emotional level while they engage with your brand. This helps you build a deep relationship with them leading to brand loyalty.
Branding differentiates your business
In today’s time, it’s crucial that you stand out from the crowd. If you develop a strong business identity, you might have a strong competitive advantage. Branding promotes your USP, gives you maximum visibility, and increases the odds of repeat purchases by giving your consumers a reason to buy from you time after time.
Branding supports your adverting efforts
If you want to get results from your advertising or keep your (Customer Acquisition Cost) CAC under control, you need to work on creating a powerful brand first. Incorporating branding into your advertising will help get long-term positive recognition by establishing brand identity, credibility, trust, and loyalty. Good branding connects with your prospects emotionally and intellectually which motivates them to take action when they come across the Ads, stay loyal and stick with your brand throughout the buyer’s journey.
Branding builds financial value and future opportunities
A strong, well-known brand can help you generate future business and exponentially increase your business value by giving you more leverage in your industry. You will become more credible and you become an appealing investment opportunity because of your firmly established place in the market.
Branding gets you repeat customers
Having an already positive association, your customers are more likely to stay loyal to experience your brand again. They will make purchases from you because of a well-established trust. A great package, design, labeling, typography, and name - They all are a part of cohesive branding.
Branding generates new customers
Strong branding means you leave a positive impression of yourself amongst consumers and because of familiarity and trust, you’ll have no trouble drumming up referral business. Word of mouth can become your company’s best and most effective advertising technique. It is so powerful that it can either tarnish your reputation or get you new customers, so make sure you get it right from the start!
Branding inspires employees
A clear branding strategy provides the clarity that your staff needs to feel motivated, determined, focused, and satisfied. When employees understand your mission and reason for being, they feel the same pride. It’ll tell them how to act, how to win, and how to meet your organization’s goals effectively.
Strong brands never die, they evolve
The economy can be tough and every year an astonishing amount of businesses get shut down, but the ones who survive are mostly the ones with a good brand in place. Yes, with the changing times you might even have to switch or evolve to adapt buying behaviors, but no matter what you do, you will still be recognized and people will still choose you over others as you’ve already made an impact on their lives
How strong is YOUR brand?
When your business is clear on the brand and delivers what they promise, you will see tremendous fruit while building brand loyalty among the customer base.
Now the question is, do you have a well-planned strategy and a strong brand that reflects your business values and appeals to your target audience?
Or do you need assistance with your brand? BeUniqueness can provide growth, sales, and marketing strategies that ensure your brand’s healthy growth. We customize branding strategies that fit exactly your business needs.