The product or service is one thing, the brand is another. Thought leaders in the marketing industry know that branding makes or breaks a company or business. While the quality of actual products or services remains primary, building a brand is the essential secondary in securing business growth. It is helpful in more ways than one.
Here’s a short list why you need to build a brand:
1. The brand speaks for you and the business.
Branding helps you traverse very competitive markets, and with so many ideas to pass around, markets can be very noisy. Thus, you need something to deliver a message uniquely from you and your business to your clientele.
Branding does that for you – it speaks.
It becomes your voice; and that tilts the scale in competitive markets. Simply put, some businesses have better ways in getting their message across to an audience. Businesses who communicate well usually get more customers.
2. Branding helps you advertise.
While branding primarily speaks, it also provides you a distinct and noticeable spotlight. Properly branded products and services get organic promotion by forming chatter. That’s when your brand enters daily conversations, dinner table talks, and the lives of people. When people start talking about you, it means your brand is doing its thing. We could say that branding is in-and-of-itself a form of advertising.
3. The benefit of recall in customer patronage.
Distinction and noticeability are inherent in property branded companies. It sets you apart. However, it also allows you to make a mark on customers or anyone who encountered the brand. Branding helps people remember you. For example, when we talk about the colors yellow and red, and talk about fast food, McDonald’s come to mind. The human brain usually works by associating colors, symbols, and marks to certain memories. You should take advantage of that.
Your brand will basically give you the benefit of a recall – customers remember you by seeing simple prompts around them – let’s say a color similar to your logo theme, a shape you constantly use, or a word from your tagline.
Name recall is something political analysts factor-in during elections. Candidates with popular surnames usually get votes as a benefit of recall. People tend to vote names familiar to them, or at least, those which they could associate with a memory. The same principle works with businesses. If people recall you, they are more likely to patronize you.
4. Branding controls your popular appeal.
Popularity, when controlled, is one key to successful business. Branding controls how, why, and what you are popular about. You mustn’t seek to be plainly popular, mere popularity won’t make the cut. You must be popular for something that sets you apart – branding does that. It controls your popular appeal. You must remember that popularity is helpful when you have it under control.
Generally, popularity helps you sell more to a wider audience. People are more likely to patronize unique and popular brands. Common and unknown brands are usually opted to as second options.
Popular brands also sell at the higher price, thus increasing your profitability.
As the brand gets more popular, it gives your product or services more value. That’s how well branded companies charge 2 times, 5 times, or 10 times more for their products and services.
And so, branding is certainly one thing you should consider when building a company or a business. It helps you grow and earn more. As today’s markets are getting more and more challenging competitors, you must work with your brand well.