There are more than 1.2 billion websites currently online. If you want your business to stand out amongst your competitors, strong branding is crucial. Your brand will impact how your customers perceive you, what your employees think of your business, and whether you're set apart from your competition.
Branding is more than just a cute tagline or memorable logo. Great branding will increase the value of your company and make it easier to acquire new customers.
In this post, you'll learn some of the key benefits of branding. Ready? Let's get started.
What is a Brand?
Your brand represents the sum of people's perception of your logo, advertising, reputation, and customer service. When all of these things work well, you'll have a healthy brand. On the other hand, you probably know a company that has great services or products but their brand has been tarnished due to sloppy or poor customer service.
When you think about branding, you should consider your entire customer journey or experience. This includes things like social media, staff, and even how you answer your phone or reply to emails.
It's crucial that you're aware of your brand and have a strategy to create a solid brand. A great brand isn't accidental- it always involves a well thought out plan.
Here are some of the benefits of branding:
Your logo is one of the major parts of your brand. Think about how you instantly recognize the Starbucks logo or picture McDonalds' golden arches when you're craving fast food.
Your logo is like the face of your company. It will be on every piece of advertising and correspondence and will allow customers to instantly recognize your business when they see it. The idea is to create a logo that's simple enough to be easily remembered, but still powerful enough to create an impression.
This is one of the top benefits of branding. People are much more likely to become loyal customers if they trust your company. And since the average consumer is exposed to more than 5,000 marketing and advertising messages every day, this is crucial.
One of the best ways to do this is to humanize your brand so you can create a genuine connection with customers. Always built an emotional connection through its #LikeaGirl campaign, while championing girls confidence. It used an authentic story and a transparent behind-the-scenes video to deliver its message instead of simply focusing on its products.
Stand Out From The Crowd
One of the benefits of branding is a solid brand helps you stand out from thousand or even millions of similar businesses online. No longer are businesses competing on a local stage. Businesses now compete in the global economy, making it critical that you stand out.
When you develop a brand and use it consistently, your customers will remember who you are. Even if they don't need your products or services at that moment, the more they see your brand, the more likely they are to think of your business when they do need them.
You probably want your employees to feel proud to be working with your business. Employee inspiration is one of the benefits of branding that can help you attract top-notch talent when you're hiring.
These days, employees can anonymously write what they really think about a company on review sites like Glassdoor. Your company values and branding will help you attract new employees while ensuring your current employees feel good about their roles in the business.
Clear branding provides your employees with the clarity they need to be successful. It tells them what's important to your company, how they should act, and how they can meet your organization's goals.
Your business may be relatively small, but without a brand, it gives customers the impression that it won't last. Branding helps you create an image that proves you're "here to stay."
When people see a well-defined brand identity regularly, it eliminates questions about its stability or viability.
Attract New Customers
The ability to attract new customers has to be one of the biggest benefits of branding. Consider Butterfly Twists. This company provides cute, flat, comfortable shoes for women. They can easily be folded up for travel, and include memory foam insoles.
The brand has created a unique brand with an engaging story about combining comfort and attractiveness to make comfort cool at an affordable price point. And any woman who is asked where she got her shoes will be able to immediately think about the company and its website. This creates a huge opportunity for referrals.
Word of mouth remains the most profitable advertising source. Potential customers are much more likely to buy from a company they've been referred to. That's why the most profitable companies have built a strong band and can capture referral business.
Building Your Brand
As you can see, there are many different benefits of branding. If you have a business, you already have a brand. But it's your job to ensure it's an honest representation of your company.
Here are a few tips for building your brand:
Know Your Target Audience
You should be able to tell people who you are and who your customers are within one sentence.
Know Your Point of Difference
It's important that you can clearly state how your business is different from your competitors. Clarify exactly how you stand out.
Know Your Brand Voice
Once you know who your customers are, you can speak to them in their language. Give your brand characteristics like professional, outgoing, quirky, or fun. Use your brand voice throughout your website and in all marketing material.
Your brand should be front and center of everything you do. From the design of your Twitter avatar to the way you interact with customers, it should all be consistent with your branding.
What do you Think of the Benefits of Branding?
Have you thought about your company brand recently? It's not too late to begin working on a solid brand strategy to help move your business forward.