Why branding is important for all businesses?

I’ll just start by telling what branding itself is. It is a marketing practice in which a company created a name, symbol or design that id easily identifiable as belonging to the company. This will help to identify what you sell and distinguish it from other products and services.

But branding is more than just a logo or some fancy brandstrategy-400colors on it. It covers everything you do or say as a business. Your brand is the public face of your business and every single element of your business helps to build it, from your voicemail messages and social media profile image, to the way you wrap products or how you present yourself when delivering service. Your brand should be a representation of who you are as a business and how you wish to be perceived.

 

Now let’s talk about the reasons I picked out and will list on why branding is important.

  1. It helps to grow your reputation

A strong, consistent brand image, which usually should start with a well-designed logo, will help you to establish your business. This will make it easier for customers to remember, recognize and recommend you. A great logo should be powerful and easily memorable.

  1. Helps you win investment and new customers

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. 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 a name they can trust. Once your brand is well-established, word of mouth can become your best and mos effective advertising techniques.

  1. Your brand sets you apart from the competition

In a highly competitive global market, it is crucial to stand out from the crowd. Remember that you are no longer competing on a local stage, you’re now competing in the global economy- Your brand will therefore help you stand out from the thousands or millions of similar organisations around the world.

  1. It adds value

A strong and successful brand will add value to your business well beyond physical assets. For example companies such as Apple, Facebook and Coca-Cola; they are worth much more than their premises, equipment and/or products. It has been their brand that’s increased the company’s value.

So as we see branding is not simply a logo or a graphic, it goes far beyond that. Branding involves every aspect of a customer’s experience, from your logo to your website, your social media posts, staff uniforms and advertising.

 

References:

http://www.howdesign.com/resources-education/online-design-courses-education/4-key-reasons-branding-is-important/

http://www.purelybranded.com/insights/why-a-good-brand-is-important-to-your-marketing-strategy/

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One Response to Why branding is important for all businesses?

  1. anneruok says:

    Hey Drizana, isn’t it crazy and somehow very twisted how a successful brand or even just a name of a celebrity on a brand can literally add the value of a product? So we are buying say, sneakers, to show the other people…what? Can it be that we are cool? Wealthy? That we belong to some community? This is so psychological in the end, I think few people are rational when purchasing sneakers that cost over $300, they’re doing it based on their emotions.

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