Branding is a clear story communicated by a business that helps to present product or service in a unique and recognizable way. Branding not only makes a memorable impression, but it also allows your customers and clients to know what to expect from your company. In today’s modern world, branding is more important than ever. If you want to be a successful brand, you need to understand who you are and figure out what message to deliver. A good brand communicates a clear story so first of all, you have to find THAT story.
TOP5 reasons why branding is so important.
- Branding gets acknowledgement
First of all, a brand defines the ‘YOU’ in your business. And it is much more than a luminous scramble of hues, otherwise known as logo. It incorporates all that you do, or guarantee to do as a business. We all tend to buy a brand, a story or emotion, not just products or services offered. So this is why branding is important and has to be done properly.
Every statement that your organization makes should be clearly reflected throughout the brand. Otherwise, customers will be quick to notice the difference between what was promised and actually delivered off the ground. This can cause a tragedy not only for the overall brand image, but also for the good of the business as a whole. This also means that if you don’t want to support your intentions by appropriate actions, you might as well not diversify it in your brand correctly.
- Branding builds business values.
The value of strategic branding is often underestimated by a business. Yet global and famous brands are the great proof of what strong branding can do – we all love to wear Nike as an example. Nonetheless, there are many different businesses that sell not only a product or service. They sell and give their clients extraordinary experiences, new communities, relationships and emotional connections. As a result, this not only meets the customer’s needs but also adds strong value to a customer’s life.
As a famous marketing guru, Seth Godin said – the connection is the first step adding more value into your business. Creating an emotional relationship with your target audience is as important as a good logo itself. This means you have to understand and support your customers so they can build trust. When customers will be able to relate to your brand, they will pay more for your offerings. Most of the GEN Z customers are looking to see how you fit into their environment and personality. Brands have to find an emotional connection with GEN Z customers, says Allen – Lord. You have to find some type of human value to them. This new consumer is concerned with social and environmental sustainability, justice, diversity and inclusion.
- Branding attracts the target audience.
One of the components of a strong branding strategy is the correct use of the ideal customer profile to define a niche market. Once the niche is defined – communication is addressed specifically to it. This improves lead generation because you target the right audience instead of a large audience.
This is where the power of the first impression comes. You have to make sure your brand’s image (logo, graphic design solutions, social media presence, customer experience) translates the right message in order to keep and attract the right audience. Your products and services have to fit your type of business and resonate with those you hope to reach.
- Branding helps to outdo the competition.
Nowadays, it is really hard to stand out from the crowd of thousands of similar brand’s that claim to be as good as you. Advanced technology and globalization made the entire world your marketplace. So at this point, you have to realize that you are not only competing locally, but globally too. Your imagination is the only limit that can stop your brand’s growth and potential because you have a global audience to serve.
Branding helps to outdo the competition and build a strong brand. Solid reliability encourages potential customers to choose your business before choosing a competitor. It is a scientifically proven fact that customers tend to choose and buy from organizations with a great reputation, and prefer less to those that don’t.
- Improves employee pride and satisfaction.
Usually, most businesses understand branding to be necessary from a sales perspective but it’s also really important from hiring part too. Your future employee will always refer to the image that current and potential employees hold about your business. So, a good employer will work hard to maintain a brand’s reputation through clever and good branding which will help your business to stand out against the competition and to appeal to top talents in the marketplace.
Branding case study:
In order for you to clearly understand why branding is important and how it makes a difference, we prepared this case study. We hope this will help you to find your brand’s values and create a strong branding strategy that will attract your desired audience.
Below you will see these 2 competitive brands are selling similar clothing to their target audiences but as a result, they brand themselves in different ways. Gucci value proposition is sexy; cutting edge, contemporary where is Prada presents themselves as innovators, style ambassadors and elegant novelists. In fact, this is a good example of how fashion brands send their messages through display ads and reach their target audiences. Prada aims to attract intellectual and creative fashionistas where is Gucci seeks for modern and fashion-aware people. In either case, it is important to understand what are the company’s values, goals and how to translate it to your target audience.
To sum up, if you want to be a successful brand you need to understand who you are and figure out what message to deliver. Additionally, to be successful doesn’t mean to have a strong marketing strategy and loads of products to sell. It takes much more. In the first place, you have to find “the real you” and attract the right audience that will admire, love and support your philosophy. In order to be successful, you have to plan your branding and create a strong and recognisable identity.
How should this be implemented? We will tell you step by step and share the know-how in our following blog posts.