Does your company have a brand? If you do, do you know why it is important to your company? Do you know how to harness that power to better your business?
You most likely know brands as the marketing toolbox that is your name, symbol, design or colors that makes your business stand out apart from others. Your brand is what makes your company identifiable. If you see the golden arches, what do you think of? Can you immediately identify the Nike swoosh? Even colors are associated with companies like Coca-Cola red. While these are some of the biggest companies in the world, the importance of branding can be applied to your business as well.
Branding is important because it allows your company to make an impression in your consumers mind. Plain and simple, if your business can be memorable and distinguish itself from competitors, you have a better chance of getting business. Branding also helps represent your company, helping to show what your offer, what your audience can expect, why you should get their business, who you are as a business and how you want to be perceived. Branding makes a large impact on your company, influencing perception, driving new business and increasing awareness.
The 5 most important reasons branding is important include:
1. Branding increases your company’s value
- A strong brand can have an affect on your future business. An established brand can show that your company is an appealing investment or a good place to begin a career with hard-working people. This allows you to grow in your industry or even beyond.
2. Branding creates trust
- Branding helps businesses build trust with current customers or clients, potential ones and fellow businesses in the marketplace. Branding can help you portray your business as it is – professional and reliable. Let them know you are experts.
3. Branding supports marketing and advertising
- Good branding makes both marketing and advertising professional’s jobs a lot easier. A more recognizable, strong brand will make your promotional process run smoothly. It also helps marketers create strategies that help achieve your overall goals.
4. Branding brings recognition and familiarity
- This touches on what we said above about McDonald’s, Nike and Coca-Cola. What brings recognition the most is your logo and your colors. These are the face of your company. When customers can recognize your company without the business title, you’re on the right track.
5. Branding generates new consumers and audiences
- When you make an impression of someone, what is one of the first things you think they will do? The answer is tell somebody else! Referrals and word of mouth are some of the best ways to generate more business. A good brand builds dependability that helps a customer know they will be pleased with what you are offering, and word will spread like wildfire.
StrategyNest incorporated brand building in all that we do. For more information or if you are in need of help building your brand, contact us today.