A brand is more than a recognizable logo. In reality, it is everything associated with a business. To sum it up, a brand is the experience and perception people have of the company, its offerings, reputation, customer service, advertising, and engagement. When a skilled digital agency creates a brand for a company it is like creating a personality for your business, which may not be easy, but does provide long term incentives.
When all these aspects of your business are working cohesively, then what you have is a healthy brand that drives business value. As such, realizing the importance of a powerful brand is crucial for business success.
Here are some reasons why branding is important to help your business succeed!
When you see the golden arches, you instantly recognize the brand as McDonalds. A major aspect of your brand is the logo, which has to be instantly recognizable and should be associated with an emotion. This is why logo design is incredibly important for businesses, since the logo is going to be everywhere from the website to social media profiles and advertisement. Doing so enables you to create a memorable brand that is powerful enough to drive value from potential consumers!
Building a professional brand goes hand in hand with building credibility. It’s a no brainer that people will likely purchase a smartphone from Samsung rather than a generic brand, because it carries a symbol of trust. You have to understand that trust is not bought, but earned, and once it is earned, it is hardwired into the brains of the audience.
Branding is a cornerstone of effective advertising, and helps in setting a demographic target market with the available advertisement mediums. However, narrowing your promotional focus may not always be the best approach when your business wants to explore new markets. On the other hand, broad promotional focus may fail to establish an impression for your business in the minds of the potential customers. Effective advertising goes a long way in creating a brand image that can help your business grow.
Most of the value of stocks in publicly traded companies comes from the branding power. In this case, a strong brand will help in generating more business. Even for a small business, strong branding works well in getting referrals and increasing consumer outreach. Regardless of what stage of the business cycle your company is in, strong branding helps in driving sales, and the potential of capital investment if your products, services, or solutions are innovative!
A strong brand is a self-sustainable business that continues to grow against economic conditions through new customers. For example, if your friend bought a new pair of shoes from ASICS and they’re great for running, then he/she will likely recommend the shoes to you. Given that ASICS is now a strong brand, you will likely be tempted to buy the shoes. Even if you don’t, you will at least follow ASICS on social media, because the brand spoke to you and your needs/wants.
Creating a powerful brand takes time, because you have to integrate the personality of the business with its corporate image. However, once you manage to do so, then your business is only going to grow!