Your brand is more than just a logo. Great brand marketing increases the value of a company and makes obtaining new clients easier.
It lives in the hearts and minds of prospective clients and builds a set of ideas and emotions associated with your business.
With an infinite number of choices available to an average consumer, your business needs to leverage on brand marketing to stand out from the competition.
So why is brand marketing so important?
In short, everything.
If you think branding is only for big companies, think again. Brand marketing is critical for any business, regardless of its size or value.
While your brand is primarily what the outside world thinks of you, you can create influence on your brand with carefully concerted marketing efforts.
Through wisely crafted press releases, beautifully-designed logos, clever ad campaigns, or super-friendly service, your brand can get people buzzing and becomes what you want the outside world to see it as.
Strong brands are the fundamental elements to customer loyalty and profitable sales. Because consumers love and trust brands. They believe in the authority that branding provides.
In fact, branding is so powerful that even in an economic slump, 60% of consumers are willing to pay more for a superior brand.
Branding creates strong benefits within your business as well by creating consistency. Your brand becomes the groundwork for all your marketing materials. Every aspect, from a website to corporate identity, to videos and photos, is defined by your branding.
Let’s take a more in-depth look at the several benefits that a strong brand brings to your business:
1. Improved Recognition
One of the chief components of your brand is undoubtedly your brand logo. Think about how we instantaneously recognize the propeller of a Mercedes Benz or the simple, but powerful swoosh of Nike.
Logos are the ‘face’ of a business. Therefore, logo design is essential because that graphical element will appear on every piece of correspondence and advertising.
A logo design that works can be modest enough to be notable, and yet influential enough to deliver the sought-after impression of your company.
2. Forging trust
Appearance makes a huge difference when your business needs to stand out. A strong branding tells the public that you are a professional business. It can build credibility and trust.
Consumers are more likely to purchase from a business that gives the impression of polish and legitimacy. These triggers emotional reactions that are hardwired into our brains, and those reactions are extremely strong influencers because they compel us to respond.
3. Boosting Advertising
Perhaps equally important as your logo, your advertising is yet another critical component of your brand. The medium that you choose and the audience you target for advertisements can affect your brand too.
In today’s marketing landscape, businesses can’t afford to lose customers by having an advertising focus that is too narrow. If the focus is small, the company risks being “pigeonholed” and losing their capacity to widen its market. If the focus is too broad, the company fails to create a definite influence and strong mindshare within prospective customers.
4. Creating Equity
Many companies and startups are valued several times more than their actual worth, mostly due to the value of their branding alone. This is usually seen in publicly traded businesses.
A strong brand pretty much guarantees the future of the company. It places the company in the position to raise funding for expansion or rolling out an IPO. A substantial brand equity usually signifies the company’s strength and performance. The higher a company’s dedication to building its brand value, the better the financial return from its efforts.
5. Building Authority
Authority is the new buzzword in internet marketing for a good reason. Your brand authority is possibly your single most important business asset in today’s marketing landscape. Your business needs to be recognized as an expert in the eyes of the consumer.
If you can achieve this successfully, you’ll attract more customers and be able to charge a premium for your products and services.
6. Generating new customers
If you have ever made a purchase based on word-of-mouth, then you will understand the power of referral marketing in business.
Your friend wouldn’t be able to tell you all about his favorite pair of sneakers if he can’t recall the brand. Why branding marketing is such an essential concept in this situation is because it creates an unforgettable impression.
For word-of-mouth marketing to be successful, referral business can only work only when your company delivers a memorable experience to your customers.
7. Inspiring Employees
In most companies – especially large ones – employees need more than just a task to work on.
They need a goal that they can work towards. If you build a strong brand, it is like turning the company logo into a symbol the rest of the company can rally behind.
There is a reason why employees of some of the biggest companies in the world like Apple and Google are fiercely loyal to their employers. These companies align their values and beliefs with their employees.
When employees appreciate your company’s mission and direction, they will feel that same pride towards their work.
Brand marketing is the foundation for building your business
A brand marketing strategy that works gives your business a significant edge in the sea of competitors.
Your brand is your promise to your customer. Your brand tells people what they can anticipate from your products and services, and it sets your offerings apart from the rest of the crowd.
Some of the most profitable businesses on earth have one mutual similarity. These businesses achieve great success because they establish themselves as a front-runner in their specific field by building a strong branding.
Perhaps the best thing about brand marketing is this: If you work hard to build your branding, your brand will, in turn, work hard for you.
You can reap the benefits for years to come if you can lay a solid foundation for your branding strategy.