What Is Branding? Why Is It Important For Your Business?

Branding

It’s the art of rising above the noise … The concept of brand and branding often gets confused with a logo or company slogan.
While these two elements are important in every business, it’s your commitment to ‘brand and branding’ that differentiates you from competitors and win over the hearts and minds of your target audience …

Branding involves how customers see and experience your business – from your logo to your website, your social media posts, staff uniforms and advertising, to the way you answer the phone, how you interact and communicate with customers.

In a nutshell, branding is how your customer perceives you when they see, hear, think and talk of your company name, service and product. From what they think they know about your brand, to what they tell others and what they remember about your brand – of the way you behave and do things to add value to their lives. Branding can be likened to ‘good business manners’. Remember, consumers choose brands like they choose friends. Why not embark on a journey to make as many friends as possible?

5 good reasons why you should knuckle down to develop your brand:

– Branding Promotes Recognition

Consistent and effective brand manners will serve to build trust and friendships and makes people feel at ease when doing business and purchasing from you. People the world over buy from people – if, as a friend, you’re remembered and recognised as a quality service provider, you’ll enjoy their favour and repeat business for many years to come.

– Your Brand Sets You Apart From The Competition

In a highly competitive global market, it is crucial to rise above the noise. Businesses no longer compete on a local stage only, We’re competing on a national and in many instances in a global economy. For this reason you need to stand out from the tens of thousands similar businesses in your category or industry.

– Strong Branding Generates Referrals

Strong brands give rise to referrals and viral traffic because people love to tell others about the brands they like. People eat, listen and wear brands, and they’re constantly telling others about the ones they love. It’s a known fact, some 84% of consumers reported they ‘always or sometimes’ take action based on personal recommendations.

Imagine getting hooked on a brand but can’t remember its name and address! That’s why branding is so important. You can’t recommend a brand you can’t remember!

– Branding Sets Expectations

– A strong and consistent brand leaves the customer with the knowledge of what to expect each time they encounter your business. Professional mannerisms and a positive, consumer focused attitude builds creditability and trust, and results in long-term business relationships.

Your brand represents your ‘customer value proposition’ – leaving him knowing exactly what he can expect from your brand and business.

– A Strong Brand Adds Value

Beyond physical assets, The Brand is what adds tangible value to your business.

Companies such as Apple, Facebook, Coca-Cola and many others are worth many times over the collective of their premises, equipment, products and services. Its ‘Brand’ that represents these companies’ net asset value. In 2014, the Coca-Cola trademark alone was worth $67million; accounting for more than 54% of the company’s stock market value.

Last word: Branding is the last legal way of taking advantage over your competitors.

For assistance on all your small business brand and design requirements, why not speak to a strategic brand advisor?

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