Many business owners of today still think Branding is only about creating a business name and logo. However, It is broader and in fact, is a continuous process that needs frequent review and update. In this article, we would look at what Branding really is and how it can help your business grow.
Branding in its simplest form means IDENTIFICATION. It is the process of creating brand elements that distinguish you from others. These elements include your business name, logo, symbol, brand color, and many others. These elements, aside clarifying what your brand offers, must emotionally connect your target prospects with your product.
Therefore, as a business owner, you have to think as though your business is a living – breathing and Branding is the mouth. Imagine having it explain who you are, what you offer, the value that sets you aside, and how promising relating with you would be.
In essence, we can say BRANDING goes beyond IDENTIFICATION. It cut across your brand’s customer appeal, product credibility, business value, and satisfaction.
Now that we have a broader view of what Branding is, it is important we talk about how it can affect your business growth.
BRANDING GETS YOU RECOGNITION
In marketing, Branding is a representative that tells people what your business stands for. Branding elements such as your brand name, Logo, symbol and brand color gives your business recognition in the market place. It creates for you, the intended impression on customers and the level of value your brand can offer.
Thus, these elements must be of great quality and be able to tell at first instance, the basic product or service you offer. They need to be optimized to show target prospects that you can be trusted and can only deliver the best service at all times.
INCREASES YOUR BUSINESS VALUE
Customer’s perception of your brand is very important in determining your business value. A poorly designed logo or a misaligning brand color set can put off a customer even before patronizing you.
Aside from that, branding elements such as your product packaging, customer relationship, and marketing technique further determine how customers see you and value your products. A professionally managed branding will always make you seen as a top brand in your market space. Brands like NIKE and ADIDAS are considered top brands in the fashion industry because of their clear and professional branding strategies.
Business owners should, therefore, reanalyze their branding, compare against top brands in their industry. This tells you where you are and what you need to correct or add.
HELPS CREATE TRUST
One undoubted reason customers patronize a brand over and over is trust. So far you are able to show customers that you can be trusted at all times, building a loyal customer base becomes easier.
To achieve this, a professional appearance and well-strategized branding is the way to go. People will prefer to do business with a company that has a polished and professional portrayal.
Such a look gives the impression that you are an expert in the said industry. Thus, you can be trusted to handle business professionally.
IT HELPS ATTRACT NEW CUSTOMERS
Today, getting new customers is mostly through referrals. Top brands stay top because people keep talking about them and are creating a strong impression on people.
Once a brand adopts a professional branding strategy, it becomes easier to build customers’ trust enough to get them to refer a friend. Word of mouth becomes the best advertising technique for such an established brand and it wouldn’t be hard to get new customers.
MAKES ADVERTISING EASIER
Advertising becomes meaningful only when you have a brand to promote. However, having quality branding elements even make it easier.
Quality branding makes it easy to create a cohesive and appealing advertising strategy. You are able to push the brand through the suiting medium and can expect a strong reach and engagement.
BRANDING CAN WIN YOU INVESTMENT
Having a firmly established place in the market industry is a function of good your branding is. When you become strong and a well-known brand, your business value increases. You will be able to future business and this makes it more appealing to investors.
The value that your brand portrays interests investors. Only professional branding can get you on the radar of investors. It is what will help give your brand a facelift that will make it appealing and attractive.
Ultimately, these stated points showcase the effects of branding on your business. It shows that it cut across every aspect of your business that can help portray quality and value.
Hence, business owners should endeavor to take time to first understand what branding strategies are suited to their brand and update them as the business grows.
We offer professional branding services that can help tell your brand story. Drop a message for us and we’ll be ready to help shape your business.