Many small businesses overlook branding efforts. That is because they view themselves as a business and not a brand. They think brands are reserved for businesses that strive in an industry, have national or word recognition and massive revenue streams.
Because of this, small businesses often resort to fun logos and maybe a stack of stock business cards. However, branding is important no matter the size of your business.
Branding does the following
- Branding Enhances Recognition
- Branding prompts refferals
- Branding makes you unique
- Branding sets expectations
- Branding improves consistency
- Branding helps introduce new products
- Branding attracts the ideal customers
- Branding generates trust
- Branding increases value
- Branding improves advertising
- Improves employee satisfaction
What is branding?
Branding is the art and science of influencing perception about a product, service, or organization.
Branding helps distinguish yourself from other competitors.
It is also a practice that a business can use to clarify what it offers and why customers should choose it over the competition.
Importance of branding
Your brand is what people say about you when you are not in the room.
- Branding enhances recognition
If your branding is on point, all of your content, products and work will easily be recognizable. Of course, your logo is the face of your brand but there is a lot more to branding than your logo. The colors you use and symbols or icons. Your messaging; the tone of your writing. All of these things are opportunities to be unique and further differentiate your business from your competitors.
2. Branding prompts referrals
If people are talking about your brand through word of mouth, either in person or online, and your brand is memorable people will think about your business the next time they encounter a problem or a need. Referrals are often one of the most consistent and significant sources for new customers.
3. Branding makes you unique
The whole goal of branding is to position and differentiate your products and services from everyone else. This is achieved by injecting personality into your brand messaging, values and positioning statements.
4. Branding sets expectations
Branding is the art of influencing perception. If your branding is built around status and luxury then the customer will expect to pay a premium for a quality product or service. If your branding is colorful and casual then the customer will expect your employees to be fun and relaxed. If your branding is lazy then that may set a negative expectation about your brand.
5. Branding improves consistency
To have good branding you must be consistent. Consistent with your messaging and tone. Your use of colors and the appropriate use of your logo. This is known as brand unity or brand cohesion. The best way to maintain consistency is to create a brand guideline document and adhere to it.
6. Branding helps introduce new products
When launching a new product customers are often skeptical unless there is another product or service they can compare it to.
7. Branding attracts the ideal customers
As we mentioned, branding sets expectations. It can also attract the ideal customers to your business. Sales isn’t about convincing someone to purchase your product or service its about diagnosing a problem or need and then determining if your business is the right fit for a potential customer. If your branding reflects how, and why you operate your business the way you do, like-minded individuals who align with your core values will be immediately attracted to your brand.
8. Branding generates trust
Brand trust is built by what you say to your customers, how you say it and how you priorities their needs.
Brand trust increases marketing receptiveness. Brand trust creates loyalty. Brand loyalty builds client and customer advocacy. Brand loyalty, advocacy, and goodwill can help businesses weather any storm
9. Branding increases the value
by reinforcing your position in the marketplace, attracting better quality customers with higher retention rates and raising the perceived value of your products or services.
10. Branding improves advertising
If your brand is already established and memorable in the customer’s eyes then you don’t have to waste space or time during an advertisement introducing yourself. Customers already know who you are and a little about what you represent.
11. Improves employee satisfaction
Employees like to feel like they are a part of a team with a purpose. If your employees are proud of the brand they work for they will become your biggest brand advocates.