Branding is a marketing practice in which a business develops a name, symbol or design that refers to a company and makes that company easily identifiable. It is about defining who you are as a business and what goods and/or services are attached to your company. As such, the business is differentiated from other businesses in that patrons know what to expect from your business just by viewing your branding.
According to Strategy New Media (2017), there are several reasons why branding is important for your business (“Why is Branding Important,” 2017). Whether you are an entrepreneur, startup, or established business, branding will prove to be vital to your success.
People come to know and distinguish your business from others by way of your company’s branding. Your logo plays a key role in distinguishing your brand from another. It is what consumers see first and come to know as your business. Why? Because no other business has the same logo. This will help build your company’s recognition in the eyes of shoppers.
Having a polished appearance gives the impression that your business is highly-skilled in its field of operation and can be trusted. As said in an article in Wurhouse, people tend to trust those who know what they are doing (“Wurkhouse,” 2018). As such, potential clients and customers are more likely to do business with you when your branding is meticulously planned.
Branding can also help a business get other customers to spread the word about them. There is nothing like having a satisfied customer telling others about your business. Wurkhouse believes that it’s like having a free walking billboard that gets you, new clients, via word-of-mouth referrals (“Wurkhouse,” 2018). It is one of the most useful and successful ways to advertise because it gives a positive view of your company.
Provides Marketing Support
Marketing is another key element of business branding. By having your logo added to all your promotional material (e.g., letterhead, vehicles, pens, hats, jackets, etc.) is a key element of a brand. It helps your business maintain consistency and stand out from other businesses that offer similar products and services to that of your company (Chugh, 2017).
While branding can be used to increase brand awareness among new and potential customers, it can also help build loyal and existing customers as well. As stated in Forbes, good branding will create customer loyalty (Chugh 2017). Customers who are loyal to your company are dependable and will usually stick around to support you during times of plenty as well as lean. They have no problem telling others about your goods and/or services and as influencers, they bring others onboard.
Positive and strong branding will help your business generate sales transactions and income for your company. When people have a positive experience with your business, they are most likely to buy from you on a recurring basis.
Delivers What You Promise
Your business’ branding is a declaration that you will deliver what you promise. Do not make promises that you are either unwilling to keep or cannot keep. This should be a company-wide policy so that every worker is fully aware of this policy. If not, it will cause your customers to disconnect and as a result, you stand to lose their business.
Good branding goes far beyond a company logo, it is the totality of an individual’s perception of your company (e.g., your company’s standing in the marketplace, marketing, and symbol) working together to inspire and motivate potential customers to buy from you (Looney, 2017).
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Chugh, A., (2017, November 7). Why Is It Important to Brand Your Business? Retrieved from https://www.forbes.com/sites/forbescoachescouncil/2017/11/07/why-is-it-important-to-brand-your-business/#538663816c15
Looney, Laura (2017, April 29). Branding and Visual Promotion. Retrieved from https://repository.uwyo.edu/cgi/viewcontent.cgi?referer=https://scholar.google.com/&httpsredir=1&article=1034&context=honors_theses_16-17
N.A. (2018, July 25). So What is Branding? Why is it So Important for Your Business? Wurkhouse. Retrieved from https://blog.wurkhouse.com/why-is-branding-important
N.A. (2017, March 10). Why Is Branding Important? Strategy New Media. Retrieved from https://strategynewmedia.com/why-is-branding-important/