In order to understand what branding is, try to answer the following two questions.
When you are out there trying to figure out the best Laptop for you, what brand name comes to your mind?
Along with the brand name, are you also able to visualize the logo associated with the brand?
If yes, you are probably brand aware and the company or companies that come to your mind first are those who have successfully created brand awareness.
In simple terms, branding is what makes people search for particular products. It allows companies to reach inside the minds of their prospective customers.
Why is branding important for your business?
- Branding helps you prepare for long term business
Branding helps people understand the core philosophy of your business and therefore, in the long run, helps people identify with your products or services better. When you invest in branding, you invest in the future of your company. When all your hard work that you put in your business starts paying off, your brand gets even stronger and futureproof.
- Branding helps communicate better
A good brand always communicates a story better and if your branding strategy is in place, you can communicate the core philosophy of your business with your customers in the way you desire. Branding strategists need to understand that the purpose of branding & marketing is to not just make people aware of the brand but also teach them what a particular brand stands for.
- Branding helps your prospective customers recognise your business better
A good brand is one that evokes emotions in the hearts of those who see that brand’s logo or text. One of the major components of a brand is a logo because, as the “face” of a business, it’s what people instantly see and recognize. According to Tyler, the founder of Green Cardinal Design, logo for a particular brand should be simple enough to be memorable, but powerful enough to give the desired impression of your company. One good way for brand awareness is by placing your company logo into your merchandise like in a swag pack.
- Branding helps bring referral business.
Branding promotes Word of Mouth marketing and in turn brings your genuine customers. People wear brands, eat brands, listen to brands, and they’re constantly telling others about the brands they love. On the flip side, you can’t tell someone about a brand you can’t remember.
- Branding helps advertising process easier.
If your brand is well defined, your advertising and marketing process gets easier. Once you know what kind of company you are or are not going to be, have that story in place and targeted what emotions your customers should feel when working with you, it’s only natural, then, that your marketing and advertising efforts will tighten up dramatically.
- Branding helps build trust
People are more likely to purchase from a business that appears polished and legitimate and appear committed towards providing the goods and services as promised.
In your overall branding strategy, you naturally focus on making your brand appear trustworthy which helps immensely in the long run. You might have heard people buying only a particular brand of electric cable or only a particular brand of mobile phone. This is simply because these companies have successfully created an element of trust in the minds of its customers.
- Branding helps hire good talent
Once your brand is well established, hiring good talent is going to be a major concern. However, if you have invested in the branding process, good talent will automatically be attracted towards your company.
Conclusion
Branding process starts at the very first moment you start working for your company. Apart from the actual product or service, it is one of the most important factors that will determine how successful your business will be. It is therefore really important to focus on the branding process of your company from the beginning itself.
