Beyond just a good logo and memorable slogan, branding is one of the most important things for your business to get right. The advantages of branding extend beyond your customers recognising your business. It brings so much more to the table.
Because the role of branding is so important, it’s definitely something that needs to be well thought out and continually nurtured. Unfortunately, a logo alone isn’t enough to formulate your entire brand – we wish it was this simple! There’s a whole branding process to get right!
To simplify the practice, branding involves telling your customers about what you do – in a narrative form. It can be extremely difficult to concisely and enthusiastically inform your customers what you do, why you started your business and how you’re different from your competitors.
You can think of brand identity as a shorthand or summary of what you company is all about. These elements work together to turn your brand into something that encompasses the entire customer experience. The role of branding, in a nutshell, is to turn your business into something relatable, recognisable and unique while still catering to your designated audience.
There are many advantages of branding
We’re going to discuss the many benefits of branding and why focusing on your brand should become a priority for your business. Here are our top 10 reasons that will reiterate the importance of putting some effort into the branding of your business.
The role of branding
1. Branding will help you gain recognition
The advantages of branding extends further than directly gaining more clients. This is one of the most important reasons to take branding seriously. One of the biggest advantages of branding is that it allows consumers to easily recognise your business. An element which can impact this is the logo, but that doesn’t mean that that’s all you need to make your brand recognisable.
You should focus on every element of brand identity, including tone of voice, mission statement, your style guide and how your customer experiences interacting with your brand.
In the same vein, making a memorable impression on your audience will also let them know what they can expect from your company. Gaining recognition should also be used to clarify what you do and why buyers should choose your brand. Remember that you are in control of how your brand is perceived through your brand identity.
2. Branding increases business value
Taking time to cultivate your brand can help you when trying to generate future business. A strong, established brand can give your business more value due to its position in the industry.
Think about it - it makes sense that investors would prefer to invest in a strengthened brand that has a firm market position rather than one that doesn’t. This is something you should really spend time working on if you’re relying on investment or external funding to start your business.
3. You’ll gain new customers with your branding
This is where the importance of branding comes in. If you’ve created a good brand, you’ll be more likely to gain more business from the referrals of your existing customers.
Having a strong brand means that the public generally has a positive impression of your company, and that they feel confident when doing business with you. Because of the familiarity and reliability that your brand maintains. Once you have crafted a strong, established brand, you can rely on word of mouth advertising to propel your brand to the next level.
4. A good brand helps garner employee pride
If your employees work for a strongly-branded company with a clear mission statement and commendable values, they’ll feel more satisfied with their job. They will also feel a greater level of pride in the work that they do, and can use the brand as a directional guide.
In general, working for a reputable brand or brand that is viewed favourably by the public can make work more fulfilling for your employees.
As an extra, having a branded office can also help with employee satisfaction, and can create a sense of welcoming and belonging at your company. This might include promotional merchandise that you give to your staff. While it could also involve something non-material, such as refining your brand values or updating your tone of voice.
5. Your brand can create trust within the marketplace
A striking brand that has been well-planned can help your company build trust with clients, customers and consumers alike.
Having a polished and professional brand will allow you to stand out as the industry expert you already are. But, in a more public way - which can create a relationship of trust. Read more about 'Employer Branding'.
6. Branding can support advertising
While the role of branding isn’t entirely the same as advertising, they can work together harmoniously. This is because your advertising strategies will directly display your brand and its potential to your desired audience. Think twice about your finalised brand and image before you run large-scale campaigns!
7. A strong brand can help you stand out from the crowd
As today’s marketplace is becoming increasingly globalised, it’s become more important than ever to create a brand that stands out from the crowd. You have to remember that while you may be located in one city or town, your brand is competing on a global stage.
How will you stand out from thousands of similar businesses? Well, by having a strong, relatable brand. This is a key advantage of branding done well.
8. Your brand represents your promise to your customers
This is a crucial role of branding that is often understated. Your brand represents you - and your staff, premises, products/services and strategies all represent your brand. Therefore, these factors all represent you!
How do you want to be represented? What do you want your customers to say about your brand?
Remember that your full brand experience, from your logo through to your customer service agent, will tell your audience about the kind of business you are. You want to be seen as the ‘hero’ of the story, so you have to ensure that all of your business elements are up to scratch.
9. A brand can create clarity
In our everyday lives, it can be easy to wander off and give attention to distracting thoughts. This is also true for businesses who find that they’re wasting time without guidance and swaying from their plans.
One of the advantages of branding, particularly crafting a strong brand, is that you can use your (hopefully clear) brand strategy to help you stay focused on your goals, targets and mission as a company. Remember to use your brand strategically, and remember to realign your focus if you find yourself dawdling.
10. You can create an emotional connection with your customers
Crafting a strong brand can help you connect with your audience at an emotional level. If this is achieved, your customers will feel better when buying from your brand.
Purchasing can become an emotional experience, and having a strong brand can help people feel good emotionally when interacting with your company. This might also include social media and non-purchase interactions, so having a strong brand is a win-win for everyone!
In the end, it’s all about telling your story
One of the many advantages of branding your company effectively is that you are forging a strong idea that you, your staff and your image will commit to and deliver on.
A brand is not just a logo or website – it’s a philosophy and a story that should be present within every aspect of your business practice. If your business is clear on its purpose and delivers on its promises, you will be rewarded for your hard work as you improve brand loyalty amongst your consumers.
The importance of branding doesn’t stop at loyalty, though. Forging a strong brand is also beneficial for crafting emotional connections with your audience, providing clarity and direction, standing out amongst your competitors and so much more.
Do you need to revisit your business’ branding? Contact us at BigToe Creatives. We love branding and we specialise in crafting tailored, creative solutions for your brand needs.