Why is Branding Important?
What is Branding: Part 3
Last time we talked about the three key elements to branding.
That’s great, but why is it important?
Why can’t I just have 1 or 2?
Why is it important to have a brand that encompasses all of these things?
We could go on and on about the many reasons why branding is important to your business.
Here are my top 3 reasons branding is important (plus 1 bonus):
Increased Brand Awareness & Recognition
It gives you a visual presence. (Remember how last time we talked about visuals?)
A custom logo and brand will be unique to you. People can recognize what you look like just by seeing your logo, visual aspects, or even just the color combination.
It can help you stand out from the competition and stand out in a crowded market place.
People are often concerned about saturated markets and because of that, hesitant to start a business. One thing that makes those markets so saturated is having everyone look the same.
Investing in a custom brand can give you that unique difference.
Builds Customer Trust & Loyalty
Having a strong brand can help you foster trust with current and potential customers.
Customers care about quality of product and service. They care about how it’s made. How it looks.
It can empower customer loyalty. Customers will keep coming back to you, even if there might be a more affordable option. They are willing to pay more because they can count on the quality product and experience.
It shapes how customers view your business and its products and services, creating a positive brand image.
Increased Sales and Growth
A strong brand helps you command premium prices. When you look professional, people expect professional pricing. How often do you hesitate to buy something cheap because it’s almost too cheap? When something looks professional, you expect it to cost you a bit more, and you’re okay with that. This also helps you value yourself as a business.
It drives customer advocacy (positive word-of-mouth). People know what you look like, they know where to go. If they like it, they will tell their friends. Referrals are still one of the most common ways people get business.
Bonus: As an employer it attracts and retains talent.
People want to work at a place that they like! If they connect with your brand and values, they’ll most likely want to keep working there.
Which of these is your business's strengths?
Which are its weaknesses?
Looking for guidance on your brand?