There are many aspects of a business, but branding is undoubtedly one of the most crucial parts of it. It does not matter whether you run a small business or a large company, instead what your customers think about you is the key to success. A company’s brand is an assurance to the customers. Let us dig in to explore some main points about the importance of branding.
Why is branding important?
1. It makes you RECOGNISABLE
Standing above the rest is not as easy as it sounds, but with branding, you can get that too. Customers get to know you and your brand. The recognition that you get is essential to get your message across. What comes to your mind when you see two large golden arches forming an “M” with a contrasting red background? McDonald’s? Yes! From kids to adults everybody knows this is McDonald’s. Currently the 6th most important brand in the world and the largest fast-food chain in the world, it is the perfect blend of brand characteristics. It is uniform all over the world. The logo is the face of the company which makes an impression on a person for the first time. A professional logo design is the most important branding element and it should be powerful and easily memorable.
2. RISE in business value and customers
A good brand has a positive impression on the customers. People are more likely to do business with you because of your credibility and dependability which comes from your brand. This helps you to gain new customers because of the spread of the word. Your leverage in the industry also rises to create more business opportunities in the future. Branding can be the finest advertising strategy to increase your customers.
3. It REAFFIRMS trust within the marketplace
Branding portrays you as a trustable company among clients and customers. This further helps other potential clients and customers to have faith in you and initiate some business. Gaining trust and reaffirming it from time to time is really essential to see growth in the marketplace. Thus, if you have a well-strategies branding along with an appealing professional appearance there is no doubt that you can definitely make people trust you.
4. It RESULTS in employee satisfaction
Every person would like to work for a company that has a brand. This gives employees job satisfaction and makes their work fun and fulfilling. Due to this experience employees take pride in the work that they do. This generates more interest among them to do their work which will add up to your success.
5. It REPRESENTS your business values
Forming a strong brand represents your company in front of the customers in the correct way. Branding adds value to your assets. Starting from the visual elements to the customer care a good brand always tells the right story.
6. It RESTORES emotional connect
Whenever you purchase anything, it becomes an emotional experience. People should feel right while buying your services and products and this can come when they engage with your company emotionally. Branding does that. Moreover, this restored emotional connect will make them come to you more often and increase your business.
7. It helps in REFERRALS
People tend to keep on sharing to others about their experience about brands they like either verbally or through social media. If they are habituated to wear from a brand, they will tell about it to others too, the same goes for gadgets and food also. However, people do not remember the brands they don’t like. Branding is necessary as it generates referrals which aid in the development of your company and business.
Looking at the above points you would have known about the importance of branding. So, let us delve into why having your own brand is important and discuss the advantages of branding.
Why should you have your own brand and how it is helpful for established companies?
Branding can influence the target audience. Want to create a lasting impression among your customers? If yes, then your answer is to create a brand. It helps you engage more people and opens more doors of opportunities for you. People perceive you as trustworthy and thus you get to connect with more people to increase your business.
Branding is important as it differentiates your product from competitors. Creating your brand helps you to stand out from the rest and represent your company truly. It helps in identifying products from the company, making the purchase easier for customers.
Branding is important because it gives you a chance to introduce new products by using the reputation of a popular pre-existing product of your brand. Brand loyalty increases, thus giving you more opportunities to increase sales and market shares for your business. In addition to all this, it promotes good relationships and cooperation with well-known brands also.
Branding for Startups
If you are a startup, then to market your product and service successfully you have to define a solid brand identity. It is a challenge for a startup to set itself apart from competitors but branding can help you do that. Branding enables you to be recognised by people across all channels, be it social media or websites. Besides this, branding helps you to gain visibility which brings in more opportunities. With an overcrowded marketplace, it is important that you create your own brand identity.
Yet, having a brand is not enough, it has to be good enough to derive the benefits associated with it too. Let us reflect on that in the next section where we will discuss the benefits of great branding.
Benefits of having a good brand.
Half of the world is a fan of ‘Apple’, this strong branding does a lot for their business. Years of experience have helped these brands become what they are today. Great companies like Amazon, Coke and Nike have also worked towards making their brand strong. It is not just one quality but a set of many factors which make these powerful. A good brand can have many advantages, here will discuss a few important ones.
1. Customer Recognition
Imagine going to a mall, where you see a large variety of products; still, you prefer to purchase the product that is familiar to you. This is because you recognise the product by the brand and you have had a good experience with it so far, so, you chose to buy the one you are familiar with. Therefore, a strong brand develops customer recognition that helps the company in the long run.
2. Consistency in Marketing
Just like you build a foundation for your house, a strong brand builds future marketing strategies on it. Once your business has framed a healthy branding, it can channelize the rest of the efforts after it. This makes things much easier in the future for the company.
3. Capitalize on new products
Many companies derive benefits from strong branding as it helps to promote new products and services. The audience is familiar with your product and that is the reason when you bring out something new to the market they will be automatically interested to purchase it.
4. Customer loyalty
All of us like to buy products from brands that we know whether it is a gadget or your favorite food. This is what a strong brand can do. When you hit the right notes with buyers and give them great products they will come back again and again to buy more. This is when loyalty turns in, and can last a lifetime and even in the future generations too.
5. Confidence Booster
When you have given a lot of effort in terms of time, money, work and energy to build a good brand, it gives confidence to the customer as well as for you. Good branding leads to higher confidence in both. The public appreciates the services and this in turn leads the owner to be confident and much stronger. It gives the company a complete, professional presentation.
6. Competitive edge
The more popular your brand is, the more advantage you have in the market. It differentiates you in the marketplace from other companies. Further, branding can give a competitive edge above the rest.
7. Credibility with customers
You build your credibility with the progress of your brand. Customers are more likely to buy from a strong brand because of the ease they face during purchase and this comes from credibility. Branding helps you to gain recognition among people and this can increase your sales in business.
8. Connects with new talents
A good brand can attract talent to join hands with them in building their brand. These days when social media is full of talented people like influencers, marketers, actors, designers, concept builders, content creators and what not! Your brand will get noticed only if it is strong. Most often people like this associate with brands for mutual benefits.
After getting to know about all these benefits you want to build a good brand? We are going to help you create an awesome brand with these tips and tricks.
Tips and tricks for a good brand
1. Know what people think about you- As Helmut Schmidt said, “The biggest room in the world is the room for improvement,” and we know improvement begins with us. Before improving your brand know what other people think of you. You can conduct an analysis, google yourself, track your recent developments and see how that has affected you. After this ask yourself this important question honestly” Am I growing? ” and, then begin to build and grow your brand based on that.
2. Keep working on your online platform – Online platforms can be great boosters to build your brand and that is why ignoring it is not a good idea at all. When you have started a business it is important that you develop your own online platforms such as a blog or website and start to share content and establish connections with your target audience like Twitter, Facebook, LinkedIn And Instagram. Be unique and express yourself through fascinating designs and slogans that resonate with the audience.
3. Key to success is value and consistency – Think from a customer’s point of view about why someone would come to you. Have you earned their trust? Are you consistently producing good services? Take for example IKEA, it is definitely on the lower end as compared to Apple but has really amazing products. Your value is defined by what sets your product apart from others and how by giving these benefits you are able to tap into your customer’s emotions and whether your product has a good price range.
4. Keep in touch with strong brands- Associating your business with other brands can definitely increase your value as a brand. For good branding make it a point to maintain good connections with other contemporaries so that you can elevate your own brand too.
Next up we have this section on brand guidelines and how you can create your own.
Companies like Apple, Nike, McDonald’s and many more are so popular that when anybody looks at their logos you recognise what it is. This happens mostly because they are totally embedded in our mental framework and have become a part of our daily lives. Brand guidelines are one of the reasons they are imprinted in our minds. It is not just about the icon or logo it is the total imagery that pops up in your brain when you see their ads. Brand guidelines are referred to as the instruction manual and rule book to communicate your brand.
They consist of all that makes up a company’s brand identity including logos, colour palette, typography, voice, tone and other imagery to create a consistent brand image. Here are some points we have assimilated to help you create your own guidelines.
- Figure out what works for you. It is not necessary that something has worked for a brand and it will work for you too. It is a unique way to reflect your goals. Branding is different for everyone individually.
- Never place your logo on high-contrast backgrounds or similar colour backgrounds as your logo. Keep it without tilting and avoid embellishments.
- Specify font names and styles for headlines and sections to maintain uniformity. Apply this across all channels from emails to websites and social media.
- While creating documents use colour accents, brand colours, logo and icons of your brand instead of the same monotonous plain document style. This creates your individual visual identity.
- Set a primary colour for your brand, which gives it a cool look and makes it recognisable just like Netflix uses red, Spotify uses green and HubSpot uses orange.
- Design it by taking inspiration from others but give it an authentic feel.
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