Most people know that branding is important. But, how does it actually help a company?
Various startups and small businesses constantly hear the word, branding. Chances are you’ve heard this word several times in any business development research. What’s the big deal? Does branding help? Dies it really help you stand out among your competition? Yes!
The Benefit of Branding
WHAT IS A BRAND?
Everyone’s idea of a brand is different. Some people think it’s simply the colors, the fonts and the logos a business uses. Once you get a real understanding of what a brand is, you know that it includes a few of the things in the list below:
- Design Style (logo, colors, typography, and packaging style)
- A Website and Marketing Style
- Social Media Presence
- Customer Service
- Company Culture
- Taglines and Slogans
- Product Quality
- Philosophy and Overall “Personality”
Developing a strong brand doesn’t take a fortune, but it does take creativity and research. Branding Benefits.
“A brand is literally what people say about your business when you’re not in the room”. – Jeff Bezos @ Amazon
WHAT MAKES A STRONG BRAND?
Many things that make a brand strong
Uniqueness, quality, clear messaging, astrong philosophy, a target market, and audience awareness are some. What makes a brand great is a combination of a few amazing things.
A great example is Adidas. While they’re definitely not a small startup company, they perfectly exemplify a strong brand. Why? Because they’re known for their quality, online presence stores, customer experience, and “the three stripes”.
Think about companies who are powerful. (like Apple, Nike, Pepsi, Amazon) They all mix many things to make their branding work. Not just a logo. Not just a tagline. It’s not only marketing research. It’s all of that, and more.
Why You need a Strong Brand
Why is branding so crucial? What does having a strong brand do for business? It’s always changing, but here are solid 8 key benefits of branding:
- Customer recognition
- Customer loyalty
- Brand equity
- Attracts talent
- Allows shared values
- Gives confidence
1. Customer Recognition
Never underestimate the power of something familiar. When a customer is shopping and sees the unmistakable typography/colors/images of a brand that they recognize, they’re more likely to grab that product than the others that are around it. Why? Because it’s eye-catching and recognizable.
2. Customer Loyalty
Once customers begin to recognize and buy a service or product, a good brand can keep them coming back —and make them loyal of that brand. When a company combines great products with engaging branding that evokes all the right emotions, a business will see their customer loyalty begin to build and build.
3. Keeps Marketing Consistent
Once a business has its branding set—a philosophy, marketing, colors, typography, print, website, etc.—it can begin to model the rest of its efforts after it. When there’s a branding style or brand foundation in place, it makes choices much easier, and the company’s future builds off of that foundation.
4. Brand Equity
An awesome benefit to strong branding is that it helps promote new products and services. People will be automatically interested because they’re already familiar with a brand. So if you bring our a new flavour, product or service, a strong brand will help launch it smoothly.
5. Increases Credibility
When a businesses branding is solid, it increases the company’s credibility, shows it as a leader in its industry, as well as with it’s customers. Innovative marketing paired with great customer service and eye catching visuals will establish a company as a serious business.
6. Attracts Talent
When a company has great branding, people notice. Those people who are noticing are influencers, social media marketers, or website designers, or concept designers. When a business is doing a great job with branding, the ones who notice often want to be a part of what that business. When a company brings people like this in, they’re adding to their creative influence.
7. Allows Shared Values
When a company connects with their customers through shared values, it creates loyalty, and can even go into future generations. Harnessing a shared connection between company and customer/client is one of the key points of branding.
Good branding not only gives confidence to the customer, it does a lot for the business owner. With great branding, all of the, time, money, and work that has been put into company comes together as a complete and professional presentation. Branding exists to expand on the original product or service. It pushes it by grabbing the public’s eye and making them pay attention. Great branding is for the public, but it’s also for the business owners to appreciate what they have created and built.
Are your bases covered?
Great branding does quite a lot more for a business than just making it look pretty, as you see. Proper, strong branding can propel a business further than ever thought possible. Why You need a Strong Brand? Branding Benefits!
If you’re a business owner who is looking to boost your company with strategic branding, make sure you’re covering every area and missing out on any opportunities.
Need to get your brand in shape? Consort Creative to get started.