15 Reasons Why Branding is Essential To Your Business
If you’re just starting out deciding where to put your budget or if you have been around the block, read on if you’ve ever asked yourself: Why do I need branding? And you’ll understand that it really is one of the basic building block of your business.
Why do I need Branding?BRANDING PUTS AT EASE
Humans love the familiar. It helps them feel more at ease purchasing your products or services. By sending a recognisable and consistent message you’re helping your audience remember you. If they know and recognise you, they’ll feel more comfortable purchasing your products and services. Keep sending out your message, consistently.
Why do I need Branding?BRANDING DIFFERENTIATES
We get a massive load of up to 10000 marketing messages per day. It reaches us via our screens, advertising, logos, signs, media. We’ve adapted to this and learned to tune out a lot of the info. Our average attention span is eight seconds which means that as a business owner you have eight seconds to make an impression. Making sure your message is simple and memorable, and reaches your audience at the right time, repeatedly and via several channels ensures that you stand out. You may soon be forgotten however, if you don’t manage to cross paths with your audience again soon, each time delivering a consistent message.
Branding is a great opportunity to show how you’re different to your competitors. It gives you the chance to show your products are more desirable than anyone else’s. Branding elevates your business from being just one in a crowd of sameys to something with a unique character and competitive advantage. This is your promise.
Why do I need Branding?BRANDING INVITES
Your brand identity is made up of many different touch points. You could think of these as portals into your world. Every time your customers come across one of these portals you get the chance to show them what you’re all about. Placing an ideal number enticing portals will help you invite your audience to come in.
Why do I need Branding?BRANDING UNITES
Let your brand guide you when it comes to hiring your people. Are your values a good match? Your brand will help you gather the right people around you. And this works two ways. Having a clear brand strategy helps your team spread your message into the world. Also your audience will unite as a community.
Why do I need Branding?BRANDING SPREADS
Humans love to express themselves. And when they come across a brand they can relate to, a brand they love, they’ll happily tell others about their experience. People eat and drink brands, they wear them to play sports, they wear them to look sporty, they use brands to declare sides or express an opinion. So if you have a brand that people can relate to then your brand is bound to be carried into the world by your audience.
Why do I need Branding?BRANDING SIMPLIFIES
A brand that delivers a consistent experience will be sought out by people. Because not knowing what’s around the next corner uses up energy. And we’re wired to conserve that energy for essentials such as nesting, collecting supplies, or fighting. You’ll have a lot of happy customers if they know they can rely on you. If they know what to expect each time they interact with your business.
Why do I need Branding?BRANDING REDUCES COST
Once you’ve defined your brand strategy your design and content creation, your day-to-day and long-term business planning will be simple to manage. Your brand strategy will guide decisions you make and your life will become easier and more efficient saving you time and money. Your marketing communications will fall into place making content creation easy. You’ll know who your audience is, what they want from you and your messaging will be on target.
If you have a brand that is consistent – and you stick to it in your communications and content creation – you can be sure that your marketing is part of the whole that is your brand and business, and if they all work together then each initiative from one area reinforces the other areas.
Branding work will put guidelines and templates into place making sure you aren’t reinventing the wheel, from a design perspective, every time you create a new marketing campaign.
Why do I need Branding?BRANDING FOCUSSES
Branding will guide your marketing decisions such as for example who to target, who to partner with, where to advertise and even how to price your product.
Why do I need Branding?BRANDING SELLS
Having a clearly defined brand will help you sell more products. Your positioning is transparent and your audience has a great insight into the uniqueness of your offerings which you’ve made clear by sticking to your brand strategy. You’ve got a consistent and targeted brand which means your audience has already decided to purchase from you, even before you launch into your sales pitch.
Why do I need Branding?BRANDING WORKS 24/7
Brands never take the day off. The feeling around your brand is always there. You are part of your brand identity at all times, and so is your team, and your products. And as such you must all work together to fulfil your brand’s promise at all times.
Why do I need Branding?BRANDING CONNECTS
Once you’ve worked out who you’re talking to and what you have to offer to your specific audience you’ll be able to connect with them on an emotional level. You’ll make your audience feel better because you understand their desires and problems.
Why do I need Branding?BRANDING ATTRACTS
Branding identifies exactly which types of customers are aligned with your business’ unique culture and purpose.
By identifying your ideal customer’s wants and needs you’ll be able to speak to them directly. Your customer will sense that you understand them. This in turn will make them more likely to purchase your product or services and they’ll turn into loyal customers.
This will be even amplified once they become so familiar with your brand and so persuaded that what you’re doing is so useful to them that they’ll start recommending your products to their friends and families. But to get to this stage you need to build a lot of trust and work on your customer relationship like you would work on any other relationship.
Why do I need Branding?BRANDING ELEVATES YOUR BUSINESS
Branding is an investment that will elevate your business, which will result in increased sales, higher product prices, and increased business value.
When you look at branding as an investment rather than a cost, the benefits are clear. Branding pays off over the lifetime of your business, enabling you to attract better customers, with more authority, while commanding higher prices for your products and services.
Why do I need Branding?BRANDING ELEVATES YOUR PRICE POINT
Why do some people pay twice as much for a coffee at Starbucks? Why would other people rather eat their pants than walk around with a Starbucks latte to go? The answer is simple: people often don’t buy the product, they buy the brand. And if they relate to that brand they’re going to find the money to pay a little bit more for the product. In many cases a successfully branded product will be able to command a higher price than the same product that is almost unbranded, or branded in a way the customer doesn’t resonate with.
Why do I need Branding?BRANDING ELEVATES YOUR BUSINESS’ VALUE
Your brand is your business’ most valuable asset, it’s the reason you’re able to charge more – or sell more – than your competition offering a similar product. A brand may be a theoretical concept but it puts a real life value on your products. Here are two examples where branding adds enormous value to a business.
EXAMPLE 1: APPLE
Think about a huge brand, for example Apple. In May 2017 Apple was worth about $800bn, which is way more than the sum of their physical assets, such as stock and warehouses. The Apple brand, the relationship people have with Apple, adds a massive premium onto Apple’s share prices. So go forth and build a successful brand and you’ll have a valuable asset should you ever want to sell up.
EXAMPLE 2: KATE SPADE
In spring 2017 handbag maker Coach announced a deal to acquire its smaller rival Kate Spade, for $2.4 billion in an effort to offer a broader “lifestyle assortment” Coach CEO Victor Luis said. Coach has been trying to reach younger consumers with its product offerings of late. Kate Spade’s brand and all the values that go with it was worth a packet to a rival.