6 reasons why good branding is important for your business
What is branding?
What sets you apart from other companies and makes customers want to buy with ease? The answer is simple: branding. Branding refers to the process of identifying, creating, managing messaging (including voice), visuals or culture that creates a personality for your business – it’s what differentiates us as opposed all those generic businesses out there vying equally hard just be liked by everyone!
Why is branding important?
Branding is one of the most important components in building a relationship between your business and it’s customers. Your company’s logo, website design or any other marketing materials are all part if branding which needs to be memorable for people not only to remember you, but also so they can choose what they want from among many brands out there.
If you’re thinking you’re a small company and it doesn’t matter as much, think again because branding helps to identify your product or service and distinguish you from the competition. For example, a deli that sells sandwiches can use branding as a means of differentiating their product from a competitors.
Although you sell the same product, your brand can stand out based on having a clearly established purpose, brand persona and brand values. The way you operate your business has the power to move you to the top of the industry. Well-strategized branding will help you build trust with consumers, an important ingredient to drive sales in every business.
Your business purpose
A strong business needs to have a clear purpose and that purpose is communicated through branding. Even if your business is a start up in your bedroom, you should know why your business exists and how it’s supposed to help your customers solve a problem in their lives. This is important to the long term success of your business because it helps to keep you focused and reduces the chances of you getting distracted by something that have nothing to do with helping you fulfil the vision of the business.
Branding can be achieved
It attracts the right customers
Attracting the right customers to your brand could be the difference between success and failure. Being intentional with the words you post about your brand, the imagery you use to represent your brand and your brand personality help to attract the right potential customers to your business. A business that doesn’t place importance on branding and clear communication will find it difficult attract qualified buyers. They will face even more difficulty trying to keep their attention. A business that does, however, will not only attract customers but the will be able to build a community of loyal supporters around their brand.
Helps to keep you focused
Remaining focused in business can be difficult. Especially if you’re a creative to who is always coming up with new ideas and want to go after many business goals at once. Being clear about your brand helps you to remain focused on solving one problem and being known for one thing. It’s one thing if your solution happens to solve several problems, but it’s trouble when you are trying to provide different solutions to different audiences for different problems. Being clear about your brand’s purpose gives you an anchor to keep your working towards your main goal, so even if you may get temporarily distracted, your brand is there to bring you back to reality.
Stand out from competitors
A big reason you need to take branding seriously is because it helps set your business apart from the competition. particularly if are a small or niche company in an industry such as beauty products, cars for sale or a SaaS service -to name just three examples-, being known as THE solution
will be critical when trying reach buyers who may have similar needs but different options available. Spending a bit of extra time time to figure out your brand values, brand promise, your brand message, brand personality and brand identity will bring the benefits of attracting high quality customers who want to buy exactly what you are selling.
Build business longevity
A brand with longevity is a brand that will live on long after you have gone. When you think of long lasting brands like Coco Chanel, Ford or even Walmart these are brand’s that have never changed their main goal. Whether it’s luxury, safety and affordability or low prices, these brands are known for delivering on their promises. Their customers rely on them to deliver on their brand promise and because they do, shoppers keep returning. Not only that, but the tell their friends and family about their experience and invite them to shop at these places as well
Branding gives your business reach and recall
Have you ever gone somewhere, and people knew you before you they’ve even met you? That is called brand reach. When the market is aware that you exist and know what you do, you have created a brand that speaks for you even when you’re not around. One of the most crucial contributors to business survival is brand being relevant and present in the minds of potential shoppers. The more attention you can capture means an increase in potential influence, brand recall, referrals and of course, buyers. However, if you don’t have a brand that is distinctive, you might gain reach, but you may be quickly forgotten. The aim here is not just to reach as many potential buyers as possible, but it’s to reach them with a brand message, values and brand identity that remains in their minds.
Branding should provide a foundation for everything in your business. It’s like the mainframe that everything else needs to be built upon. By doing this you will have a single cohesive look, feel, voice, personality and set of values that help to keep you consistent. This is what your audience needs to know, like and trust you. Your brand should be just like a living breathing person that everyone wants to be friends with and support. Creating a relationship between your business and your audience and the best way to do this is by building a brand. You ask, why is branding important to a business? Because a business without a brand is like a ship without a compass, you’re just floating around hoping to find treasure.
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