The Importance of Branding
What is My Brand?
Your brand is the perception your company has in the mind of your customer. Put another way, your brand is all that your business does or appears to be. It is your reputation, but it is more than that.
It is the entire customer experience, from the first glance at your logo to the last “Thank you for your business” after the sale. It is the quality of your website, the attitude of the staff answering the phone, the value of the posts on your social media accounts.
Your brand is your mission, your products and services, your advertising, your customer satisfaction, your policies and your execution. Your brand is the sum total of what you are.
This is the importance of branding.
You may not know this, but you already have a brand, right now, this minute. How does it measure up, especially in the minds of your customers? Have you spent time analyzing your brand? Do you spend time improving it every day? Do you have a strategic plan in place to keep it vital and alive? It is saying about you what you want it to say?
Because you already have a brand (whether you realize it or not), it’s important that you don’t leave your branding up to chance. You need to take full control of your branding and guide the perception of your company to the best of your ability.
For success in the crowded marketplace, you want your brand to stand out and tell your unique story. Also, you want your brand to add financial value to your business. Listed below are several goals that successful branding can help you achieve.
Professionals, like us here at Brand Builders, take the time and energy to look at all aspects of your business. From the many details and specifications, products and services, customer support options, advertising, marketing, and communications channels, they develop a sense of what it is that drives your business, and what is the essence of your business.
From this thorough analysis, we develop a unifying theme that ties together your business’s true nature with your public persona and character. From this idea, everything else flows naturally: Logo, mission statement, graphic design, packaging, marketing, advertising, social media — the works. This theme even helps in future product selection and development. Your theme is the definition of your business. It is the heart of your brand.
With a unified approach to business identity through the application of your theme, your logo becomes the instantly recognizable icon of your company. When you see those golden arches, you think McDonald’s. Come across a silver apple with a bite out of it, and you think Apple Computer, Inc. These are indelible brands.
Your consistent use of your themed logo will have the same effect on your customers. Repeated viewing is statistically likely to lead to repeat business. Your logo becomes a familiar and comfortable reminder of the good will and excellent service your company provides. The customer associates your brand with quality and credibility. They tell their friends about your good reputation, too.
In these days of global online competition, how does your company stand out? Your brand creates the differentiation you need in the marketplace to create a unique niche. Differentiation means profitability. Your brand says that you are the only place that they can find this particular answer to their individual needs. This uniqueness prompts not only a sale but potential repeat business as well, as brand loyalty kicks in.
Your consistently themed, branded appearance creates a promise to your customer. You promise that every time they do business with you, they will receive the same excellent service, impeccable quality, and fantastic value that they got last time, or that they heard about from their trusted friend, neighbor or family member. The same holds true for your advertising when they see your logo, or if they happen upon your social media postings, or visit your website. Your consistency in branding lets the customer know what to expect, and in return, they give you a vote of confidence by purchasing your goods or services again and again.
People like to connect with others on an emotional level, much more than making a mere economic transaction. What’s more, people are loyal to brands, not products. Products come and go. Brands provide continuity and stability in the volatile marketplace. Loyalty to a brand can even inspire millions to rally for or against a cause or product.
We see this in the news. There are certain times when well-known, well-branded corporations will attempt to sway public opinion for or against a cause, perhaps to raise funds or move the political landscape one way or another. It is this power of their brand — and the brand alone — that gives the corporation the leverage it has to move its customers in the direction it desires. Your brand has the power to move people. What you need is control over your brand, so it moves people in the direction you want them to move. The professionals at Brand Builders can help.
Getting a clear and persuasive message out is a never-ending process. Paid advertising is as much a branding opportunity as any and takes careful consideration to do it in a compelling and thematic way. The demographics you target are also driven by your branded theme, as well as the various media you choose to advertise in, whether print, web, radio, or television.
Companies like Coca-Cola, Starbucks, Google, Apple, and so on, are worth far more than their physical assets. Why?
They are worth millions more because their brands add financial value to their stock portfolios. If you were to try to buy a famous, well-branded company, it would cost well about the stock selling price for several reasons, but one of the main reasons is the cash value of the brand itself. That brand ensures future revenues. The goodwill associated with the brand means that customers will flock to its products and respond to its advertising for years to come. You can build the same goodwill and financial value into your brand, and that should be your goal.
You can see for yourself the impact that well-branded companies have in the marketplace and their on their bottom lines. This success doesn’t come automatically. It takes strategic planning and daily attention to business. Designing and then following a business theme unifies your efforts and makes it clear to the customer what your company is all about. Once you have your branding in place, the market opens up to you.
Brand Builders helps you design and implement the best of brands. Please contact us today. Brand Building Is Our Business.