As a business owner, you’ve probably questioned the purpose of branding at one point or another. Maybe you’ve wondered whether your business could actually benefit from branding, or if you truly need it at all. Or perhaps you’ve wondered if branding is effective in driving the results you want to see.
If that’s the case, here are a few questions to ask yourself that may help you receive some clarity:
- Have you ever recommended a brand to friends or family?
- When you think about your favorite shoe store or ice cream shop, do specific companies come to mind?
- Can you identify a brand by its logo or advertising and marketing methods?
If the answer to any of these questions is “Yes”, you are proof of the power of branding.
Branding is the integration and harmony of a variety of business aspects such as design, vision, mission, and concept that can establish recognition, spark emotion, and build trust among people and target audience groups. Though they are all quite different from one another, these elements work together to form a strong brand identity for customers who interact with a brand or business to be able to easily identify and form perceptions of.
Oftentimes, the idea of branding is unintentionally reduced to smaller parts of a bigger picture, thus minimizing its importance in the overall brand experience and in building brand loyalty with consumers. While visual elements, marketing efforts, and online presence are all necessary components of strong branding, they are just pieces of the larger puzzle that branding is — Which brings us to the question: How can your business benefit from branding?
Here are 7 reasons why your business needs branding:
1) Branding represents your company and your people.
It’s important to remember that while branding is made up of many parts, it ultimately represents your company’s core values. Not only that, but your branding stands as a reflection of each person involved in your business, from junior staff to C-level executives. Investing in the right branding for your business will reap a greater harvest in that it will show people what you and those who work alongside you believe in and stand for.
2) Branding builds recognition and trust.
From jingles to logo designs to slogans, you’re probably able to recall a handful of brands because of them. Why is that? The short answer is that a business with strong brand identity is able to make a lasting impression on people. When you have memorable and attention-grabbing branding, a potential customer is more likely to remember your business, and may even be prone to make recommendations to others. This is important as a brand’s customers can serve as its biggest advocates!
3) Branding enhances the customer experience.
From start to finish, every touchpoint of your branding should be consistent and aim to create an enjoyable experience for your customers. The customer experience includes both tangible elements, such as the in-person experience, customer service, and quality of products and services, as well as intangible elements, such as appealing to a customer’s emotional level, employee culture, and social media presence.
4) Branding helps you stand out against your competitors.
Let’s be real — It’s not always easy to stand out when you’re amongst a crowd of competitors. Thankfully, branding serves as an effective way to help you establish your unique qualities and characteristics. By doing so, you can differentiate your business and the products and services you offer from that of your competition.
5) Branding establishes your promise to your customers.
As a business, you have a promise that you seek to deliver on, whether that be excellence, integrity, efficiency, etc. The catch is that you need some credibility behind your words in order for customers to believe in the promise of your brand. The hard truth is, advertising and marketing can only go so far if you have nothing to back yourself with. A business with established branding offers a tangible and proven promise to stand behind that customers can see.
6) Branding builds relationships.
Let’s face it. Without relationships, brands cannot thrive. The relationship between a brand and its customer is established over time through touchpoints and experiences that the brand exudes and provides. Strong relationships lead to trust and loyalty, which benefits your business in the long run, making it a worthy investment to pursue.
To build strong relationships with customers, your business must think strategically about how it will exemplify consistency and trustworthiness through its branding over time. How will you use your voice and identity to cater to the customer experience? Will your message carry through in every stage of the customer journey? How will you engage with customers post-purchase to signify and strengthen your branding? These questions are examples of factors you should consider when thinking about how your company’s branding will push beyond the product to engage your customer base.
7) Branding increases your business value.
When you create and sustain significant branding and a clear brand strategy, you will inevitably increase your brand awareness. As you tighten up the narrative of the story you want your business to tell and how you want to tell it, you can implement it into your marketing strategy and advertising practices. As more and more people become aware of your company, its practices and values, and all that it represents, you can continue to build upon a strong foundation and increase the overall value of your business.
Now it’s in your hands.
Have a branding idea that you want to bring to life? Or just looking for a place to start? Contact us for a consultation to see how our professionals at Lift Digital Marketing can help you reach all your branding goals.