The importance of branding in Marketing
Unfortunately for some companies, shoppers today have way too many options and way too little time. This means that the average shopper …
Unfortunately for some companies, shoppers today have way too many options and way too little time. This means that the average shopper will go straight for the brand that they trust or that is well known, leaving very little room for less known companies and new companies to get a share of the pie. Companies that have worked hard to establish themselves as a reliable and trustworthy brand are getting the lion’s share and this is where branding comes into play. Most product offerings of any kind have similar qualities, features and even ingredients. Customers tend to buy based on trust so working hard to create this is important. Good branding gives customers a reason to care about your brand, company and products.
Branding represents everything about your customer experience including your logo, website, customer service, your social media interactions, your staff and so much more. Branding is basically how your customers perceive you. A good brand comes through hard work, dedication and strategic planning.
Why you need to invest in creating a good brand.
Appear more established: the right work on a brand can make a brand new company look like a well established company. This in turn makes it seem more credible, hence building trust and therefore increasing sales.
Promotes recognition: Brand identity work can improve the perception of your business in the eyes of your customers. If your branding is consistent, frequent and easy to recognise then people will become more familiar with it and will feel more comfortable and at ease when purchasing your products.
Sets you apart from the competition: with so many companies saturating the market in each industry, it is important to have strong branding to make sure you stand out in a crowd. Your brand should be bold, recognisable and different.
Defines your business: your brand from the way your logo is represented and your phones are answered tell a story of your company. It is critical that all the elements that collectively make your brand are in line with your marketing strategy so that the story being told is what you want your customers to hear.
Happy customers: a strong brand makes people proud to say they use that company and results in more referrals, better reviews and testimonials and overall, happier customers.
Increase the value of your business: a brand is one of the most valuable assets that a company has. A good, strong brand is worth much more than a company’s physical assets. In many cases, a company’s name and the brand associated with it have much more value than any asset belonging to it.
Before you set out to create a brand, it is important for you to know what customers currently think of your business, how it is perceived and most importantly, how you want it to be perceived. Work on creating a brand out of the vision that you have for your company.