3 Concrete Benefits of Branding
Posted on April 18, 2017 in Branding
As a creative agency, we find that people have a lot of misconceptions about branding. Business owners are frequently confused about what branding is and what it does for them.
In this short article, we’re going to define branding and then talk about the heavy-lifting it can do for your company. Let’s get to it…
Your brand is your identity. It’s the image people have of your company. Sure, your logo, slogan, typeface, and color scheme is part of that, but that’s only scratching the surface. That’s what your brand looks like, but it’s not the entirety of your brand.
Your brand is what runs through someone’s head when they hear your company’s name, what they think of when they see your logo. It’s thinking of refreshment when you see the Coca-Cola logo, or thinking about physical fitness and sports when you see Gatorade.
So how can a strong brand work for me?
1. Your brand allows people to recognize your company, products, and services. People like familiarity. When they’re buying something (large or small), they tend to buy what they know and like. Say you’re in the market for a new smartphone. Which sounds like the best value for your money; an iPhone, a Samsung Galaxy, or a OnePlus4? 9 out of 10 people will choose one of the first two, yet the OnePlus is ranked on the same list for best smartphones of 2017. With a strong brand, people really do remember the name — and it makes all the difference.
2. Strong brands build customer loyalty. If you’ve ever met someone who is an absolute fanatic for a specific company, then you know exactly what we’re talking about. I’ve met people who openly mock anyone who uses any mapping app other than Google Maps, and people who insist upon buying Apple products whenever possible. But it goes beyond fanatic loyalty, too. Most people fall in a more neutral camp: they are slightly more loyal to one brand over another because they like their products a little more, or agree with their business practices. As an example, Chipotle built strong brand loyalty with young people through promoting their use of naturally-raised meat and naturally grown ingredients. A lot of Chipotle fans will eat at other restaurants, but they’ll tell their friends about how they still prefer their burrito bowls.
3. Brands set you apart from the pack. In terms of growing your market share– whether that’s on a local, statewide or national level– a strong brand is one of the best tools you can have at your disposal. A strong brand is how you distinguish your business from competitors and let audiences know why you’re better, faster, add more value, etc. It’s generates a snowball effect, too. As more people are drawn to your brand, it only grows stronger.
Want to chat about branding for your business? Give us a call at (248) 579-9972 or e-mail me direct at firstname.lastname@example.org