Here is what Branding can do for your business
Let first understand what is brand to
understand branding. Brand
represents sum of people’s perception or image of a company’s product or
service, reputation, advertising, logo and design. Beyond just a memorable
logo, good branding not only increases
the value of a company but also provides employees direction and motivation. Branding makes acquiring new customers easy.
Good brand marketing identifies you
to your clients, builds loyalty, separates you from the competition and seeks
to engage them in an ongoing relationship. Brand is one of the most important
asset for your business.
Let’s take a look at the ways how a strong
brand impacts your business:
11.
Stand out! In a good way…
Branding improves recognition and one of the major components of
brand is logo. Think of how we instantly recognize the yellow arches with red
background as the face of McDonalds. A professional logo design is simple
enough to be memorable. Yellow, red and orange are the colours we generally associate
with hunger or food subconsciously. Choose your colour wisely for designing
logo for your brand. When a customer can relate with your brand it creates
brand association and your brand becomes easy to recall among the competitors.
2.
Good branding creates trust
Brand marketing helps to humanize your brand. Brand
should connect emotionally with the customer to gain their trust. Like a
trusted person a brand should be able do the right thing, empathize, never fail
on expectations, maintain transparency. Emotional reactions are hardwired into
our brains, and those reactions are very real influencers.
3. Branding helps to
build financial value of a business
There are companies who publicly trade on stock
exchange and are valued many times higher than their actual hard assets. And
this value of the company comes from branding.
A strong brand usually guarantees future growth and profit for the business. A
company may not be in a position to borrow funds for expansion or rolling out
to an IPO, but being perceived as valuable and trustworthy brand will make the
process easier and advantageous for the owner of the company Therefore a company
must invest well in brand marketing
whether by doing it in-house or by outsourcing it to branding agencies.
4.
Branding keeps employees
motivated
Many employees need something to look forward.
When employees understand the mission and vision of the organization and reason
for its existence, they are more likely to get inspired, take pride and work in
the same direction to achieve the goals set. A strong brand not only lowers
attrition rate by providing job satisfaction but also attracts more people to
join your company.
5.
Branding attracts
new customers
Branding helps a company to get referral
business. Word of mouth or good reviews from your existing customers be it in
person or through social media, helps in acquiring new customers. ‘Brand’ is
the word used to conceptualize the goal of creating indelible impression. Make
sure that your company delivers memorable experience to each and every customer
because it adds a lot of brand value to your company.
6.
Strong
brand marketing elevates your
business from ‘mom and pop’
Image is everything in today’s savvy
consumers. If you cannot stand out in the crowd and is sloppy in nature they
can spot that in a second and will shun your business. Better brand marketing activities like unique
promotional activities are very important to keep the customer hooked and want
more. Consistent brand marketing activities will attract customers consistently
helping a small business to grow into big one.
Things common between most profitable
companies, small and large, is that they have established themselves in their
particular industry by building a strong brand. Hiring a good branding agency makes the process of
branding easier and effortless for you. It saves your time and effort so that
you can focus on operational and business development activities. Happy
Branding!
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