Firstly, what is Branding?
Creating a name, logo or design that identifies and differentiates a product from other products. An effective brand strategy gives you the edge in growing within competitive markets. It is more than just the name or visuals to promote your company it needs to make up the backbone of your business.
So, what exactly is a brand?
A brand represents the sum of people’s perception of a company’s customer service, reputation, advertising, and logo.
How can it benefit your business?
Branding is one of the important concepts to market your business, marketing plays a huge part in helping a small business become established. It must be a way of communicating, informing and persuading your audience of your benefits. As well as creating a memorable logo, good branding increases the value of your company, it provides your employees with direction and will motivate them, giving an increased understanding of what your company stands for. This in turn then goes hand in hand with acquiring new customers.
Your customers can expect to see the following 5 benefits when your branding is on point:
- Customer recognition: having a strong brand works to build customer recognition. A company is more than just its logo. It’s the image you project, the service you deliver. As time goes on you will be recognised for both positive and negative things. Think about the brands you like and recommend to friends. What is it about their product that you like? Is it the service? Is it the quality? All of these make a difference and enhance a company’s reputation.
- Stand out: What makes you stand out and have the edge in your market? Could it be that your product or service has a uniqueness to it that others don’t or are you hands down the best value for money? Make your edge stand out and use it to your advantage!
- Introduce new products to your customers: The best companies release products where after a week or two you forget they’re new, and when you see it, it’s as if they’ve always existed. A great example of this is from Coca Cola, Coke Zero. Released in 2005 quickly became their most successful new product launch since Diet Coke in 1982. It’s easy to forget that this product is still relatively new to the market. This is due to the clever use of advertising, marketing and the strong branding that Coca Cola have globally.
- Customer loyalty: It’s a very old idea but “do unto others as you would have done to you” works in business as well. If you deliver to your customers and clients time after time, they will keep coming back for more. People like to be treated like they are special, and they remember when they have been. Think about any restaurant you have been to. Guaranteed you will remember the places with the best service and the best food and in turn you will have shared that experience with friends and subsequently returned.
- Professionalism and ease of purchase: The credibility of your brand is always helped when customers and clients see a level of professionalism with whom they are dealing with, and customers are able to purchase your products easily and without any fuss. When selling products customers will automatically be put at ease if you allow for the likes of PayPal for payments, it is a reputable company and there are guarantees in place for the protection of both the customer and the vendor.
We hope to help and inspire others; your brand needs to make your customers believe in YOUR business. You’ve got this!!