The word ‘branding’ is thrown around a lot in the business world, but some entrepreneurs may still not fully understand its importance. With the right branding strategy, businesses can represent far more than just the products or services they provide. As branding specialists Novanym explain: “Branding is the difference between a cool, refreshing glass of Pepsi and a sticky cup of unbranded ‘cola drink’. The taste can be almost identical. The experience won’t even come close.”
And while you may think that an approach like the world’s biggest companies may not suit smaller businesses like yours, that doesn’t make branding any less significant of a consideration. An effective brand strategy enables your company to grow in the long term. Here are a few of the key reasons why.
Builds trust
A business simply won’t succeed without the trust of its customers. Trustworthiness is actually one of the top factors consumers consider before making a purchase, ahead of good reviews, corporate reputation, or a company’s environmental impact. Effective branding is a key means of engendering faith in your business, so it’s vital you present yourself professionally while providing evidence of your quality.
The look and feel of your branding will determine whether a potential customer chooses you over one of your competitors. For example, a basic, visually unappealing, or confusing website suggests you’re not committed to creating a positive user experience, which could be perceived as a reflection of your products and services. Ultimately, a poor first impression could lose you all-important sales. Similarly, if your company doesn’t have any photos, videos or testimonials showing consumers what they can expect from your goods or services, why should they believe you’re worthy of their custom?
This is why professional branding is especially important to startups who are trying to stand out in the marketplace. Not only will they need to distinguish themselves from the competition, but create a positive encounter that will make clients want to return to them. It may be wise to seek the services of a brand consultant who can ensure your business appears genuine, and is presented exactly how you want it to be seen.
Creates recognisability
Your business will only build a loyal customer base if people remember it, and designing an eye-catching brand logo is a simple but effective way to achieve this. A strong graphic will grab attention and act as an immediate point of identification, which is why businesses are willing to pay big bucks to get it right. According to Red Website Design, over 65% of companies would pay over $500 for a logo, while 18% would fork out double that.
Once a customer has seen your logo enough times, they’ll eventually start to recognise it as a symbol of your brand, instantly reminding them of what your company does, their previous experience with you, and how it made them feel. This positive recall will make them far more likely to become a repeat customer. Coming up with a design isn’t easy, but you could look to some of the most recognizable logos for tips—simple, bold shapes and colours tend to be most successful.
Of course, branding for recognisability goes much further than just a logo. For example, when choosing a brand name, you need something unique, snappy and memorable that clients can recall and attribute to your business. It’s also important to keep your branding consistent across all platforms—in addition to the logo and name, all designs, colour schemes and fonts should be the same, as should your brand’s tone of voice. Any anomalies could confuse customers and disrupt the identity you’ve created, ultimately weakening your brand. A survey of over 200 organisations revealed that this consistency can increase a brand’s revenue by 23%, confirming that pairing repetition with unchanged branding helps customers to internalise your business.
Entices customers
Jeremy Miller, branding expert and author of Brand New Name, shares on Positive Branding that his top branding tip is to remember who you’re trying to reach: “[It] isn’t about logos, taglines, and colors. Branding is about the bond you form with your customers.” Considering how crowded the internet is with competing companies, it’s never been more critical to connect with your market. Potential clients will be looking for businesses that stand out, which is why your branding must be as appealing as possible.
According to Sprout Social, 64% of consumers want brands to connect with them, and social media is the best way to do this. To create a social media branding strategy, first put together a guide outlining the tone of voice and formatting that your business will commit to across all platforms. You should share a variety of content, from informative blogs and guides, to more purely entertaining or perhaps personal posts—Sprout Social’s survey also found that 70% of consumers hope to see social media activity from a brand’s CEO.
It’s important that you regularly update your profiles with new content. Investing in social media automation tools will help you maintain your online presence, and let you schedule posts at regular intervals. Replying to comments, encouraging discussion and asking questions will maximise the engagement on your posts, and encourage a social community that could make your brand more attractive to consumers.
