Six reasons why branding is important for ALL businesses
How much thought have you given to your business brand? Read six reasons why branding is important for ALL businesses.
With a background in marketing and advertising, we’ve always been aware of the importance of building a strong business brand and investing in a brand strategy agency. And indeed, one reason why Talented Ladies Club has been so successful is because we have carefully created and nurtured our brand.
But not all businesses understand why a brand is so essential – or even what ‘branding’ really meansTo help you shape yours, we share six reasons why branding is so important for ALL businesses.
What is branding?
Branding, by definition, is a marketing practice in which a company creates a name, symbol or design that is easily identifiable as belonging to the company. This helps to identify what you sell, and distinguish it from other products and services.
But branding is more than just a logo or company colours. It covers everything you do or say as a business – even if your business is just you! Everything that helps a customer or supplier (or anyone) form an impression of your business is your ‘brand’.
Your ‘brand’ is the public face of your business; its personality. And every single element of your business helps to build it – from your voicemail message and social media profile image, to the way you wrap products or how you present yourself when delivering a service. Your brand should be a true representation of who you are as a business, and how you wish to be perceived.
Six reasons why branding is important
Branding is important because not only is it what makes a memorable impression on consumers, but it enables your customers and clients to know what to expect from your company. It is a way of distinguishing yourself from your competitors and clarifying what it is you offer that makes you the better choice.
No business (or freelancer) can afford to overlook their brand. Or assume that they don’t have one. The right brand (one that is true to your business values and in line with what your target audience need or want) can positively influence how people perceive you, can drive new business and increase awareness of your business.
1) Branding helps to grow your reputation
A strong, consistent brand image (which often starts with a well-designed logo) will help you to establish your business. It makes it easier for customers to remember, recognise and recommend you. A great logo should be powerful and easily memorable, making the right impression on your target audience at first glance.
Your logo should be on your website, social media profiles, business card, physical business location (if you have one) and on printed promotional products.
2) Branding can help you win investment
A strong, well-known brand can help you to generate future business, and even increase your business’ value by giving you more leverage in your industry. This makes it a more appealing investment opportunity because of its firmly established place in the marketplace.
3) Branding can help you win new customers
A good brand will make it easier for you to win referral business. Strong branding generally means there is a positive impression of your company among consumers, and they are likely to do business with you because of the familiarity and assumed dependability of using a name they can trust.
Once your brand is well-established, word of mouth can become your best and most effective advertising technique.
4) Branding can boost employee pride and satisfaction
When an employee works for a company with a well-respected brand, and they genuinely agree with what your brand stands for, they will be more satisfied with their job and have a higher degree of pride in the work that they do.
They’ll feel proud to tell their friends where they work, will feel more confident having your name on their CV, and have a greater sense of belonging (which in turn will make them less likely to be tempted away by your competitors!).
Branding your workplace and creating promotional merchandise for your employees to use can help to reinforce the strength of your brand and the values it stands for.
5) Branding can help to build trust in your marketplace
A professional appearance and well-strategised branding will help you build trust with consumers, potential clients and suppliers.
People are more likely to do business with a company that has a polished and professional brand image. Being properly branded can also give the impression you are industry experts, and help the public to feel as though they can trust your company, the products and services you offer and the way you handle your business.
6) Branding supports your advertising efforts
It’s easier to create strong advertising (and expect better results from it) if you have a strong brand. Advertising can be as big (and expensive!) as TV, press and radio ads, and as strategic as social media ads, competitions, special offers and using promotional products from companies such as Outstanding Branding.
How strong is YOUR brand?
So what about you? Do you have a well-planned brand strategy, and a strong brand that reflects your genuine business values and attributes, and appeals to your ideal target audience?
Or do you now feel a sense of panic as branding so far been a bit of a shot in the dark for you? Our club Kickstart contains workbooks and an entire mini-course that shows you how to shape and grow a powerful business or freelance brand.