What is a brand?
Amazon’s CEO, Jeff Bezos, says, “your brand is what other people say about you when you’re not in the room.”
If you want people to say positive things about you behind your back, you need to have a strong brand. However, it’s not that easy. Building a brand from scratch takes time and requires consistency.
You may be thinking, “ah come on, deciding on correct logo usage and making sure my font use is consistent throughout isn’t overly important.” Well, you’re wrong!
Building a strong brand for your startup plays a pivotal role in your company’s growth.
Here are 5 valid reasons why branding is important for your business.
1. Branding lets you establish a unique identity for your business
Branding allows you to introduce your company. It will enable you to express who you are and what you stand for. It is the perfect chance to build up a personality that your potential customers, investors, and venture capitalists can relate to and get behind.
Allowing your company to establish its unique, personal identity, branding aids in setting yourself apart from all the competition out there. A big part of distinguishing yourself from the competition is coming up with a brand logo that mirrors your company – in aim and performance.
This is why employing a professional logo design service such as shivnarayananimationstudio to design a persuasive logo that leaves an impression is such an essential part of branding.
2. Helps to build customer loyalty
Whatever industry you’re in, it’s hard to disagree that brand loyalty is harder to build than ever before.
You cannot blame customers for this.
The internet has allowed customers to research the best deals and make direct comparisons with ease. This is particularly a problem for eCommerce businesses. A better offer is seemingly always around the corner. Moreover, even if you offer an initial discount to new customers, it’s sometimes still not enough to guarantee returning consumers.
However, that doesn’t mean you should give up on keeping customers around.
80 % of consumers buy from brands that share the same values as they do.
To give yourself an advantage when it comes to building a loyal customer base, you need to ensure your brand matches the values of your target audience. This will help you to build a strong brand identity and keep your customers coming back.
Gives you a greater understanding of your audience and industry
The process of re-branding or building a brand has knock-on benefits for your startup. Brand building requires you to strip off all the parts of your business and take a real good look under the hood.
Here are some things to look at when building a brand for your startup.
- Brand Personality
- Brand Color Scheme
- Brand Narrative
- Brand Logo
- Brand Typography
In the process of deciding on these things, you need to research your competitors and your target audience. While you may already be doing this for your content or social media marketing already, it’s never a bad thing to research these two further.
3. Branding adds aesthetic appeal and helps you on your way to becoming a trend
Close your eyes and think of all the companies that are trending today. Do you notice that they all have one thing in common, and that is excellent branding?
You can seldom become a fashionable trend unless you put due emphasis on your branding. Whether it is good or bad – branding helps you get into business a great deal. Two different companies supplying the same product might be equal in the quality of their product, but it will always be the one with the most significant branding that will be on top of the sales chart.
4. Boosts employee morale and motivation
Brand reputation isn’t only important when building trust with your customers. The importance of branding is evident also when strengthening employee motivation and loyalty.
A company that has a strong brand identity and working culture is more likely to hire new employees. And in turn, keep its current employees happy.
Furthermore, it’s becoming increasingly evident that millennials like to feel like they are working for a company whose social views and culture align with their own.
How can branding help with that?
Informing all your employees of your brand identity and values build a perception that your employees are working towards a common good.
However, the best way to get the ball rolling here is to work on your mission and vision statement.
A mission statement describes your function, market, and competitive advantage. Whereas, a vision statement defines the way in which your product or brand distinguishes itself from the competition and how this benefits your customers.
5. Your brand becomes memorable and drives up your sales to new heights
Imagine yourself in the middle of the supermarket. When are you faced with an aisle full of similar products, which one do you reach out for?
More than half the time, the average customer will reach out for the product that he has heard most about. It might not be the best product that is available, and might not even be the cheapest – but this is the product that is selling the most, regardless of these factors. The reason for this increased sales of a single product is branding.
The right branding helps you in getting noticed by your potential customers – even in a market crowded with competitors. When you want to make people remember you during your shopping sprees, you must put enough effort and money into building yourself as a brand.
So there you have it! You now have a better idea of why branding is important for your business. We would love to help you with this. Reach out to us through the contact page.
Thanks for reading.