The Importance of Branding to your Growth Strategy
Branding was a term used to literally brand cattle with a name or a symbol. With this, ownership was signified. It identified cattle according to their owners. Eventually, the same thing was applied to shipment boxes. This time, the branding process meant to signify not only ownership but also the reliability of the source and its quality. Nowadays, the same concepts still apply. Businesses still use branding to signify ownership to certain products and services and to assure their quality. However, good branding is more than that. More than fancy logos and unique taglines, a good branding solution is about creating an idea that will make your identity stick to your customers. Good branding solutions create high customer engagement. It is a key factor to an effective growth strategy. If you are looking to grow your business, you have to know the importance of branding.
Good branding confirms your credibility as a business
Imagine having to do business with a stranger who refuses to give his name or to show his face. Obviously, it doesn’t sound like a very good idea. No matter how good the product or service a person offers, it is difficult to trust someone who refuses to reveal his identity. It is the same for businesses. Good branding reveals who you are as a business and confirms your credibility. About 60% of consumers are more likely to try a new product that comes from a familiar brand. Familiarity plays a big role in establishing credibility. In turn, credibility is a key factor for customers to decide whether to make a purchase. The more familiar your customer is to your brand, the more likely they will do business with you. Establish familiarity and credibility by seeking good branding solutions.
More than fancy logos and unique taglines, a good branding solution is about creating an idea
that will make your identity stick to your customers
Good branding solutions create identity markers for your customers
Let’s talk about Skype. Skype is blue, white, and is perfect for online communications and conference calls. How about Coca-Cola? Red, white, sexy bottles, almost addictive, and thirst-quenching. Now let’s talk about your company. What makes your brand unique? How do your customers remember you? What identity markers comes to mind when people talk about your products or services? Identity markers are little symbols, icons, or words that make you easier to remember. Effective branding solutions mean identifying your company’s identity markers and driving them into your customers’ minds. Good branding gives you concrete identity markers. It makes you memorable.
Good branding connects your name to your main product/service
Ever heard someone say “Google it!”?
Google is undoubtedly the biggest and the most popular search engine in the world wide web. The fact that some people use the company’s name as a verb to describe the act of searching something through a search engine is a testament to this. That is the mark of effective branding. When your customers use your company name to describe your product or your service, you know you are doing something right in the branding department. Effective branding solutions anchor your name to your product or service. In a way, the goal of branding is to make your company name synonymous to your products and services.
Good branding solutions communicate your company values
You know you have a good logo when the design is pleasing and attractive. You know you have good branding when the design carries your company’s values and main ideas. Good branding solutions transcend fancy logos and taglines. It shows your company’s mission, vision, and core values. To many bigger brands, that is what made the difference between their about failure and their success. Your branding communicates your company values. See this as an advantage and use it to reveal your identity as a business to your customers.
When your customers use your company name to describe your product or your service, you know you are doing something right in the branding department.
Good branding translates to loyalty and free publicity
If done correctly, branding can be a source of high engagement from your customers. The more engaged your customers are with your brand, the more likely they will stay with you. They are more likely to commit to your products and services. This means that good branding can translate to customer trust and loyalty. This is great because loyal customers tend to promote brands that they trust. In addition to that, 80% of consumers are better persuaded to make a purchase when they hear about a company from a friend than from an advertisement. This means that by establishing a strong following, your customers can be your promoters. It’s free publicity! And it’s arguably more effective than paid publicity too.
Good branding solutions help grow your business
Last but definitely not the least, branding can be a key factor to increasing your sales and growing your business. When a tool confirms your credibility, increases customer retention of your name and service, reveals your goals, and initiates high engagement, it is only natural that all these things can translate to higher sales and greater growth opportunities. This tool is made available to you. Don’t make the mistake of ignoring branding in favor of simply improving your products and services. After all, good services do not really matter if your audience do not trust you or remember you. Grow your business. Seek for good branding solutions.