Branding is a term that you probably hear everyday especially if you are in the business world. While it may seem complicated, it doesn’t have to be just as long as you have the strategy to do it right. It is also a necessary practice as it keeps your business afloat, but first, what is it?
What is branding?
Branding can be defined as a marketing practice through which businesses create a name for themselves, a symbol, or a design that can easily be recognized as belonging to the specific business. It is what sets you apart from other businesses in your niche and makes you memorable.
Branding can also refer to the promotion of a given product or service through a distinctive design and advertising. Everything you know about any given product or service that you use daily is because of the branding done by the company it’s from.
A brand, therefore, is a representation of the sum of how people perceive a business’ customer service, the merchandise you use for promotions, the business reputation, all the advertising activities, and also the company’s logo. All these need to work together in synchrony for any company to grab attention from its target audience and grow.
Your brand identity is the simple statement of who you are and what you can offer.
What is the importance of branding?
Several people with experience in the business world will often tell you that branding is one of the most important things for your business. They’ll advise you to invest in the branding process as the returns are worthwhile. Here are reasons why branding is important to your business:
Branding improves your recognition
As mentioned, one of the things that make up a brand is the logo. It’s the first thing people will notice about your brand. The logo is so powerful that it gives the impression of what you’re all about as a business. It is also what makes your business easy to remember. As such, you should invest in the services of a professional logo designer as they will make sure your business gets the right recognition and is memorable enough.
Branding creates and builds trust
Branding makes your business look polished and most of all, legitimate. Everyone wants to buy from a business they feel comfortable with. You can make people feel like your brand is trustworthy by making sure your website and social pages contain the same look and feel. Ensure that they are in line with the colors on your logo. This consistency reinforces that your business can be trusted and that you are an expert in your field. As mentioned, branding also involves customer service, the experience the customers have with your product or the services you offer, and how you communicate with your clients. If these are great in their eyes, the clients will trust more in your business.
Branding gives your business a competitive edge
People are more inclined to obtain services or buy products from businesses with good branding. This is because through great branding you create a bond with your clients, one that is full of great memories that will last long in the minds of the customers. As such, they are more likely to pick you over other competitors in the field, whose branding might not be as great.
Branding gives your business protection
Branding gives your products and even services a distinct look and feel. This originality protects you from your competitors in the industry who might want to have your success. It prevents them from copying your products and claiming them. Should they come up with similar ones, it will still not match your exact style.
Branding fosters loyalty
People are often resistant to constant changes and well, good branding ensures there is consistency. With this consistency comes customer loyalty. If you invest in good branding, your customers will always look for your brand in good and bad times. They will also help advertise your brand to other people they come across as a sign of their loyalty to you.
Branding earns you new customers
Branding reaches several people in different locations. This is in different ways for example word-of-mouth by your loyal customers which is highly effective because people will always have influence over the people they know. Branding also reaches people through other offline channels as well as online markets. This in turn helps you get many new clients for your business as your strong brand will establish you as a leader in the field you operate in.
Branding motivates your employees
When your employees show up daily to carry out their tasks, they need more than just a job to do. They need to have something to anticipate and work towards. Branding enables you to outline your mission and the reason why your business is operational in the first place. When your employees understand this, they will feel proud to be part of the brand. They will therefore feel more inspired to work towards your goals as the business owner.
Branding increases sales
The biggest reason why people run businesses is to get revenue from them. It’s not always easy to get the sales you want especially in the beginning. It takes a lot of advertising using the right medium and getting the targeting right. Despite these challenges, branding can significantly help boost your sales. This is because depending on the branding strategies you choose to work with, customers will feel tempted to try out what you are offering to them. Depending on how good your branding strategy is, they will keep coming back for your products or services.
In summary, several people do not realize just how beneficial branding can be to their companies but the points above should make a business owner see things otherwise. Remember, branding is how your customers view your business. Your brand is your identity. So, start your branding journey today by getting a company logo professionally designed then continue with the rest of the activities meant to give you that distinct identity such as offering great customer service and amazing promotional merchandise.