Why Is Branding Important for Your Business?

How do customers differentiate your business from that of others? 

Branding. This is a concept that spells out what your organisation stands for. It goes beyond a logo design, name and some persuasive punchlines.

Many elements make up a brand: 

• The company’s logo, website, and colours customers can see
• Product and packaging design
• Communication and advertising
• Pricing
• Partnership and sponsorship

Even the kind of experience a customer receives while buying from you comes off as a brand signature. 

Business owners have unique business identities, languages, narratives, and characteristics. Think of a brand as a “business attitude”. 

Branding is your stand-alone business identity. 

The language your customers understand is your brand, not the product being offered, because other persons may be selling the same product and services as you. In simple terms, customers are loyal and committed to a brand!

This is what will make customers ask the shop attendant about your product even when similar products are on the shelves. The unique selling points you’ve sold to your consumer and the promises made to them is what appeals to their buying decision.

Branding works on consumers’ emotions. 

As a key element of business branding, the value with which you offer the product to consumers is what keeps them coming back. This is why they can trust your organisation. 

Once trust is established, you’ve earned a position in the mind of consumers – something that appeals to their emotions. When customers buy because of their emotional attachment to your brand, the buying cycle doesn’t stop! 

For instance, Nike has made consumers feel trendy and capable because they effectively present their values. Purchasing power is tied to consumer emotion.

Branding makes choosing your product easy as consumers are told what to expect. 

Clearly communicating what your services or products can do for customers and consistently keeping your promise makes it simple for consumers to resonate with what you’re offering. It’s a marketing strategy that works and also helps with your online visibility.

The benefit of this is a network of loyal customers. It becomes easy for customers to recommend your products to other people because you meet their expectations. You’ve narrowed their buying decision because they know exactly what to expect when they pick your product.

Strong branding is about a clear and steady offering plus a positive brand experience. No consumer won’t feel comfortable with this kind of business attitude.

It grabs the attention and admiration of top-class talent. 

What would drive a valuable skill to come work for your organisation is your employer branding. A strong reputation is built out of effective branding. This is what will keep your top-performing staff and appeal to top talents to seek employment in your company.

Google is an excellent example of one of the successful businesses that have leverage branding to keep their staff committed and potential talents attracted. How? Over the web, Google has made all their employees’ benefits (free meals, international careers, nap pods) known. Their tagline which reads: “Do cool things that matter” is enough reason one would jump at their job offer.

Apart from spiralling sales and appealing to top talents, the branding process chisels a business reputation to attract different stakeholders. Several other stakeholders trust a good brand. This includes purchasers, investors, business partners, employees, consumers, opinion leaders, providers and more that have come to know your business identity as reliable.

For instance, providers make companies that are professional in their operations their top choice for collaboration. Again, strong brands attract investors.

If you consider the stakeholder engagement strategy used by Coca-Cola, you’ll discover how they communicate with varying stakeholders to design their brand’s reputation.

It helps your business stay on course with a clear eye on the company’s strategy. 

Building a great brand as part of business marketing means everyone must be carried along. From the top executives to the janitor, all staff members should run with the same vision and purpose.

When everyone is putting in their best marketing efforts because they understand and believe in their job and the reason for doing it, your target audience will feel the impact of their diligence. Your business will have a sales surge.

So, having a clear brand strategy is essential and ensures all employees follow the established and detailed brand policies. With this, they can enact the brand’s purpose, values and codes of communication. Both online businesses and those with physical stores need this.

Brand building improves business. 

Modern-day businesses now include branding in key business objectives, so much so that it’s captured on the balance sheet. This means that branding isn’t just a term but an effective tool.

Beyond visual identity, you can grow a profitable business via strategic branding. Granted, the strategy will be adjusted over time, but a functional brand that’s adaptable will be long-standing and assure business progress. Good examples are Apple, Coca-Cola and McDonald’s.

There are different aspects of branding but the goal is the same – maintain loyal customers, target and appeal to new customers and increase sales.

Companies seeking to invest now consider the value of a company’s brand. The focus has shifted from raw materials and employees to the company’s value and definition of branding.

There are lots of ways that you can advertise your brand. But you must be intentional about it. Your brand is an important investment to make in your business. So, make it count.