Nowadays, branding is more important than ever. But a good brand won’t manifest overnight- it’s a result of a planning, development and growth, which is why many start-ups and small businesses neglect it without realising the impact it has.
Good branding increases the value of a company, provides employees with direction and motivation, and makes acquiring new customers easier!!! A common opinion is that branding is just a logo or slogan. Actually, branding is the way in which your customer perceives you when they hear or think of your company name. It includes every aspect of a customer’s experience, from your logo to website, your social media posts and advertising; it involves even the way in which you answer the phone to how you interact with existent or potential clients.
Why branding is so important?
Effective branding can promote recognition for your business. If your brand is easy to recognise, it can help people feel more at east purchasing from you. You will encourage repeat business as they are more likely to choose your product or service again.
Your brand makes you unique from the competition
In competitive global market, it is crucial to stand out from the crowd. Remember that you’re now competing in the global economy – Your brand will help you stand out from the thousands or millions of similar organisations around the world.
Branding generates referrals
A Brand can create referrals or viral traffic because people love to tell others about the brands they like. People eat, listen and wear brands, and they’re constantly telling others about the ones they love. In fact, most of the consumers have said that they ‘always or sometimes’ take action based on personal recommendations.
Imagine falling in love with a brand but when you go to recommend it to a friend, you can’t remember it- this is why strong branding is so important; you can’t tell someone about a brand you can’t remember.
Brand sets expectations
Your brand is your promise to the customer- like an unspoken contract so to speak.
Brand adds value
Consider companies such as Apple, Facebook and Coca-Cola; they are worth much more than their premises, equipment and/or products. It has been their brand that’s increased the company’s value, far exceeding their physical value.