What is branding?
In marketing terms, branding is the total expression of a company’s value, which includes its services, products, position, advertising, people, and culture. Just as a quality product or service is the heart of a company, a brand is its face to the world. By branding your business, you will be communicating who you are and what you do. Anyone who sees your brand will, through their own perception, pick out some fundamental principles concerning your company; therefore, your brand will determine who will connect with what you have to offer and who will not. There are five reasons why branding is so important for your business:
1. Branding attracts targeted consumers and connects them with your business.
People easily connect with their favorite brands. This is because a strong brand represents a trustworthy company and its ability to continuously deliver good services and products. Through a brand, you can create a strong connection between your business and customers, which will act as a motivator each time they want to purchase your services or line of goods.
2. Branding creates customer loyalty.
Whenever clients have a good experience with your service or product, they will most probably remember your company’s brand and not the service or product. They will therefore begin to trust your business, which will cause them to continuously choose your services and products over your competitors. In case you introduce a new product to the market, such loyal consumers will easily accept the product, guaranteeing its success in the market. However, this can only be so with a strong and appealing brand.
3. Branding greatly determines a potential client’s decision and a strong brand wins them over.
This is especially applicable for products that offer little differences in their features and benefits. For example, a white cotton t-shirt. A customer will most probably pick up the first packaged white cotton t-shirt in the market. However, with a strong brand, this consumer will develop certain expectations and emotional connections with the brand, which will cause him or her to choose that branded product over others.
4. Branding helps you to effectively communicate your intended message.
Branding can become a great means for delivering your message to customers if designed right. Your brand can communicate your company’s principles, message, values, and even characteristics. Such branding will help targeted consumers to know you better and identify with your products. It is therefore important to know what your customer needs are and to design a brand that will attract them according to their needs.
5. Branding sets you apart from your competitors.
You want your customers to clearly distinguish you from your competitors, and your brand can help you achieve this. This is especially applicable in cases where your competitors may want to offer the same kind of product or service as your own. Your brand will therefore act as a valuable asset that cannot be duplicated.
If you intend to succeed in your business, you need to have a strong and unique brand that will appeal to your customers, so that they will associate themselves with you and own your products and services.