Here is what Branding can do for your business
Let first understand what is brand to understand branding. Brand represents sum of people’s perception or image of a company’s product or service, reputation, advertising, logo and design. Beyond just a memorable logo, good branding not only increases the value of a company but also provides employees direction and motivation. Branding makes acquiring new customers easy. Good brand marketing identifies you to your clients, builds loyalty, separates you from the competition and seeks to engage them in an ongoing relationship. Brand is one of the most important asset for your business.
Let’s take a look at the ways how a strong brand impacts your business:
1. Stand out! In a good way…
Branding improves recognition and one of the major components of brand is logo. Think of how we instantly recognize the yellow arches with red background as the face of McDonalds. A professional logo design is simple enough to be memorable. Yellow, red and orange are the colours we generally associate with hunger or food subconsciously. Choose your colour wisely for designing logo for your brand. When a customer can relate with your brand it creates brand association and your brand becomes easy to recall among the competitors.
2. Good branding creates trust
Brand marketing helps to humanize your brand. Brand should connect emotionally with the customer to gain their trust. Like a trusted person a brand should be able do the right thing, empathize, never fail on expectations, maintain transparency. Emotional reactions are hardwired into our brains, and those reactions are very real influencers.
3. Branding helps to build financial value of a business
There are companies who publicly trade on stock exchange and are valued many times higher than their actual hard assets. And this value of the company comes from branding. A strong brand usually guarantees future growth and profit for the business. A company may not be in a position to borrow funds for expansion or rolling out to an IPO, but being perceived as valuable and trustworthy brand will make the process easier and advantageous for the owner of the company Therefore a company must invest well in brand marketing whether by doing it in-house or by outsourcing it to branding agencies.
4. Branding keeps employees motivated
Many employees need something to look forward. When employees understand the mission and vision of the organization and reason for its existence, they are more likely to get inspired, take pride and work in the same direction to achieve the goals set. A strong brand not only lowers attrition rate by providing job satisfaction but also attracts more people to join your company.
5. Branding attracts new customers
Branding helps a company to get referral business. Word of mouth or good reviews from your existing customers be it in person or through social media, helps in acquiring new customers. ‘Brand’ is the word used to conceptualize the goal of creating indelible impression. Make sure that your company delivers memorable experience to each and every customer because it adds a lot of brand value to your company.
6. Strong brand marketing elevates your business from ‘mom and pop’
Image is everything in today’s savvy consumers. If you cannot stand out in the crowd and is sloppy in nature they can spot that in a second and will shun your business. Better brand marketing activities like unique promotional activities are very important to keep the customer hooked and want more. Consistent brand marketing activities will attract customers consistently helping a small business to grow into big one.
Things common between most profitable companies, small and large, is that they have established themselves in their particular industry by building a strong brand. Hiring a good branding agency makes the process of branding easier and effortless for you. It saves your time and effort so that you can focus on operational and business development activities. Happy Branding!