So, what exactly is branding? And why is it so crucial to your company?
Branding is more than just a logo or a graphic element. When considering your brand, think about the overall customer journey…everything from your logo, website, social media experiences, the way you answer the phone, to how your customers perceive your staff.
In a nutshell, your brand is a way of communicating with your customers and a way for them to perceive you.
It is critical to be aware of your brand experience and to have a strategy in place to create the impact you desire. A good brand does not appear by chance. It is a well-thought out and strategic plan.
Many small businesses and start-ups fail to spend the necessary time considering their brand in this broad sense and the impact it has on their company.
In this article, we cover all the reasons why branding is important to the development of your business with a few tips along the way.
Reasons To Use Branding For Small Business Growth
Due to the amount of competition nowadays, businesses must go above and beyond to stand out. To accomplish this, you should invest in developing a strong brand that will attract and retain people’s attention. From brand/product recognition, consumer and employee trust to financial value, branding has always been one of a company’s most valuable pillars.
Here are the benefits of having a clear and defined branding, especially as a small business:
Branding Boosts Recognition
A logo is an important component of a brand because it serves as the “face” of a company and is what people immediately recognize. A professional logo design is simple enough to be memorable while also powerful enough to give your company the desired impression.
A company that lacks cohesive branding is unlikely to stick in the mind of a customer for long. A company with a distinct logo, appealing colors, and other visual elements, on the other hand, will be much more memorable. Someone may only see your brand for a few seconds, but if it stands out in a positive way, there’s a good chance they won’t forget it, even if this person isn’t yet ready to use your products or services. When they’re ready to move forward, if your branding has stayed with them, they’ll come back to you.
As you know, it’s all about how people perceive your company, so carefully consider your visual identity. Make sure your color scheme, tagline, and logo clearly convey what you do and have the right imagery to stick in the minds of those who see it.
Examine how other businesses do it. Let the way they present themselves inspire your own visual signature, whether they are companies you admire or competitors.
Make sure that minor details do not turn off the customer. Bright colors and a cheerful tagline, for example, may be perceived as inappropriate by your target customers if you run a funeral home.
Branding Increases Business Value
When trying to generate future business, branding is critical, and a well-established brand can increase a company’s value by giving it more clout in the industry. Because of its well-established market position, it is a more appealing investment opportunity.
The brand is the end result of the whole process, and it includes the associated reputation and value. A strong reputation translates into a strong brand, which then leads to value. This value can take the form of influence, a price premium, or a mindshare. The brand is a business asset with monetary value that must have its own line item on a company’s balance sheet because it increases the company’s overall worth.
Branding Reinforces Trust
A recent study revealed that an average customer reads 10 online reviews before making a purchase decision. Needless to say that providing audiences with social proof is an excellent way to demonstrate your company’s reliability. Begin by ensuring that you are listed in all online business directories, such as Google My Business. Check to ensure that your contact information is consistent and correct. If your location or hours of operation have recently changed, take the time to update all of your online platforms with the new information.
People must know that it is okay to trust you before they can even consider purchasing from you. Potential customers will take notice when a company presents itself in a professional and likable manner.
Plus, as basic as it may sound, adding a “contact us” box to your website will not only help you answer customer questions quickly, but will also demonstrate that you exist and care.
Branding Separates You From The Competition
As the global market grows in value, so does the competition. And it can be extremely difficult to stand out if you don’t know who you are. Creating a distinct brand identity is an effective way to ensure that customers prefer your company over competitors.
You give your customers a valid reason to consider you before turning elsewhere by establishing your brand and its credibility. According to a survey conducted by SocialMediaToday, people prefer to associate with organizations that have a credible, reputable brand rather than those that do not.
Informing your consumers about what makes you (and your product) unique only makes the bond grow stronger. Develop a brand story that describes your journey and how your product will impact the lives of those who buy it, and show how useful it can be to them and how much they need it, even though they might not be aware.
Keep Your Customers While Attracting New Customers
You don’t just want customers who recognize your brand and use your business once; you want customers who return. You can give your brand a more human side with good branding, which your customers will relate to more than a company that is strictly all business.
You can use branding to appeal to people’s emotions and make them feel more connected to your company in a variety of ways. It also allows you to form relationships with your target audience, which can lead to them becoming loyal customers. You can build a brand that people care about and put yourself ahead of competitors who aren’t taking advantage of this.
People enjoy telling others about their favorite brands, as well as those they despise. The more customer recommendations your company receives, the easier it will be to persuade new customers to buy. On the other hand, you can’t tell someone about a brand you can’t recall. Branding will generate word-of-mouth referrals, assisting you in growing your customer base and reputation.
Plus, advertising and branding go hand in hand. If you want to improve your business’s advertising, you must first work on developing a brand. Opening up your company to social media is a simple way to get people to share your updates and recommend you to their friends. Start targeting the right users on the right social platform and you will have a strong case.
Customer loyalty is encouraged by a strong brand, and repeat customers are more valuable than one-timers. Make sure you capitalize on the groundwork laid by our previous tips with your Google Ads presence to get that first click and (hopefully) the first of many purchases.
It’s Beneficial to Your Employees
Branding has value within your company as well. Of course, you want your employees to enjoy their jobs and feel like they’re part of a team. A company with a strong brand will have an easier time convincing employees that they are part of something bigger than just a job.
In addition to the version of branding that can help attract new customers, you should also invest in the one that can keep your team motivated. This includes not only small details like branded apparel and merchandise but also the overall appearance of your office space. You will end up seeing great results all around if you can motivate your employees by creating a sense of unity through branding.
It is equally important to gain your customers’ trust as to your employees, and what better to help achieve such than a strong and reputable brand?
Put your knowledge about branding into practice
When advertising your company, you want everything to be consistent and to reflect your company’s identity and values. When you haven’t taken the time to develop your brand, this can be difficult. You’re passing up a lot of great opportunities to create an effective campaign if you advertise without strong branding. When your brand is integrated into your advertising, it will help increase brand recognition.
This big step may seem completely optional, however, from what you have just learnt, you can see that it is a necessary step towards success. Your product visibility, sales, customer attraction, and retention lean greatly on your brand. Not to mention employee loyalty and retention as your image also matters to the force behind the scene.
If you need quality branding, contact us. We will create a solid-looking brand for your product and company, that will stand out among the competitors and catch the customers’ attention.