Your business is your livelihood and your future, not to mention the livelihood and future of anyone who you might employ as well. Therefore, you are going to want to do the best you can to make it successful and profitable. One of the ways to do this is to get the branding right.
Good branding can do so much, and really is everything when it comes to your marketing and business in general. Here are some of the reasons why branding is so important and why you need to create a brand identity sooner rather than later.
Branding Improves Recognition
One of the biggest and most important jobs that good branding does is to give your business an identity, helping it to be recognized by anyone and everyone. Think of all the big companies in the world and think of their branding; it’s an easy task, with the likes of Coca Cola and McDonald’s or Disney giving you an instant and very recognizable image to think about. You want your business to be like this, with an image that everyone knows and remembers, and which, whenever anyone sees it, will make them think of you and your products and services.
When you are designing your branding, keep in mind that anything that is too similar to another, well-established brand just isn’t going to work for you, as it will confuse customers rather than help them. It needs to be distinct and different and simple enough to be remembered.
Branding Creates Trust
People are much more likely to buy from a business that they feel is legitimate and professional. Having a good brand will give them that impression. It will show that you have taken time over your business and designed something attractive and memorable.
If you have a trustworthy business, you have a lot. A business that can be trusted will make more sales, more profits, and find more customers than anything else. Trust can easily be broken, and if that happens your reputation can suffer, so make sure you are always looking after your customers as much as you possibly can to ensure that they don’t lose their trust in you.
Branding Supports Advertising
Use the brand on as much as you can including your business premises, your vehicles, and your uniforms, and you will find that more and more people see it and understand it. They will start to think of you when they need what you sell because they have seen your brand in so many places. You can even provide customers with items that have your branding on such as canvas tote bags, pens, and coffee mugs. Give these away as free gifts and spread your message as wide as possible.
This kind of advertising is extremely cost-effective, and can really help to boost your business to people who might not otherwise have known about you.
You should use your brand on every type of advertising and every individual advert that you create. The more you push it, the more it can be seen and recognized. Use it on social media, make sure it is all over your website, and use it in print advertising if this is a route you choose to go down too.
Branding Builds Financial Value
When you own a business you will have specific and personal goals for it. You might want to keep it and build it up to pass onto future generations, or perhaps you intend to sell it to fund your retirement. No matter what the ultimate outcome you are looking for might be, the one thing that is true of any business is that you are going to want it to make money in the meantime. The more money it makes, the more successful you will be personally, and that’s a good goal to have.
Branding can help to build financial value. Firstly, as mentioned above, by branding properly you will gain more customers and that, of course, leads to more money coming into the business. Yet branding can do more than that; branding can increase the value of shares in the business too. This will make shareholders happy, and will enable you to pay off any investors quickly and easily, reducing their stake in the company and making it a more interesting prospect when it comes to selling.
Branding Inspires Employees
It’s true that some employees will only be looking for work, and will go, get the job done, and come home again. However, many more will be looking for a career, and that’s something quite different. When you have a career, you care about what you are doing and you want to be inspired in your work.
Branding can inspire employees. It shows them the direction that the business is heading in, and gives them a sense of pride to be a part of it all. Wearing the logo of the company on their clothing, or driving around in a vehicle branded with the logo and business name will help them to work harder, give them goals to achieve, and make them proud of what they do and who they work for. This sense of pride is hugely important and it is what can make the difference between a job and a career.
Branding Finds New Customers
Word of mouth is a big part of any business’s marketing. It is important because it is cost effective (it is free for the most part) and because it is another way to generate trustworthiness; no one is going to recommend a business that they don’t trust because if something goes wrong, they will feel guilty or be upset because they were the one who recommended it.
When a friend or family member recommends a business, those who are being given the recommendation tend to listen and take action.
Branding is part of this, and in particular having a strong logo can help. People might not remember the name of the business, and they might not remember quite what the web address is, but they will remember the logo if you have thought about it enough. Knowing the logo can often be enough to discover the rest of the business too, driving more sales in the end.