7 Benefits of Branding Your Business
Branding is ultimately the face of your business. While you may think your branding only consists of colours and your logo; you are right, however your brand is the entire identity to your business and consists of a lot more than just colours and a logo. Whether you are a large or small business owner, this is a crucial component to create and maintain a successful business.
Nowadays there are more and more businesses emerging and evolving which can be great as a consumer due to the boundless amounts of options; however it makes it harder for businesses to be seen. Your brand is an asset filled with time, finances, and creativity. Good branding can be the difference between revenue / sales, and debt / liquidation. With quality branding you have a strong possibility of gaining control of building recognition for your business. Below are some key points about why good branding can make your business successful.
1. Create a good customer perception
Through branding you are able to share what your company is all about, share your business’s story, convey its message, and appeal to your customers. The aesthetics, feel and message of your branding will set you aside from your competitors. Good branding also allows you to create an emotional connection with your customers. Research suggests that shoppers’ emotions carry 1 ½ more weight than any other factor when it comes to decision making. This means incorporating relatable marketing strategies and giving your brand a more ‘humanistic’ approach, you can appeal to your customers’ emotions and make them feel more connected to your business. Getting branding right is a crucial component to capture and retain your consumers emotions.
2. Build Company Recognition
Your branding needs consistency. Branding links your business name, logo, products / services, and all other marketing material to attract your target market. This means all marketing skills and techniques must be consistent and content must be the same across all networking and social media platforms. Having consistent branding shares your business message promptly and clearly to customers, future consumers and your competitors.
Think about it, would you think a brand is professional if all of the fonts, logos and products look different across different marketing platforms? Inconsistency creates confusion and can repel potential consumers. Branding must be consistent, direct and effective to draw and retain customers.
3. Capture Your Target Market
Creating carefully thought out branding will help you attract your niche target market. Attracting your target audience requires you to be specific, relevant, and to know your target market inside and out. This includes pinpointing things like the age, likes, dislikes, job title, gender, interests and hobbies of your ideal buyer. By creating branding that is tailored specifically to your particular target audience will allow you to market directly and successfully. By creating branding specifically for your target audience means you will create loyal customers and produce higher profits for your business.
4. Retain clients & create a Loyal customer base
As mentioned above, good branding will generate positive customer loyalty. You can’t underestimate the importance of loyal customers. Not only do they continue to be a consumer of your company but they have huge influence on those around them; they share positive messages about your company and encourage new customers to your business. This referral process gives your business the chance to grow and retain more loyal customers. This positive customer loyalty continues as a cycle; growing and establishing your business.
5. Quality branding represents a quality product
Quality branding represents a high quality product. Through specific fonts and colours you can influence how a potential buyer perceives the quality of your product or service almost immediately. The right branding can increase the amount of money a consumer will spend with you. Research suggests that colours can seduce consumers’ subconscious mind and determine how much they may think your product or service is worth.. While it may seem impossible to be true, it is.
6. Influence how your customers feel when they see your brand by using Colour Psychology
Colour Psychology is a hugely important factor when branding your business. Without realising, in our subconscious mind we are making our mind up based upon the colours we see; and would you believe, within the first three seconds. Yes, you heard correctly; research suggests that within the first three seconds, we have made up our mind on whether we will purchase or deter from a brand based on the colours alone. This makes thinking about colours while you are creating your branding so important. Think about what emotion you want your customer to feel when looking at your brand, and if it resembles the personality and story of your brand.
Think back to a time when you were buying (for example) a bottle of champagne, are you naturally more drawn to the classier, finer detailed branding or the bright bold colours that doesn’t quite scream ‘class’? Or if you’re looking at an environmentally friendly and sustainable product, would you rather look for earthy tones and gentle packaging that suggests ‘we care about the earth’, or bright loud colours that just shout ‘look at me!’. The point we’re trying to suggest is let your branding do the talking. Your colours, font and everything in between speaks to your customers, and they must see your story from your first glimpse; it could be make or break to a purchase.
7. Build Trust with your potential customers
Last, but certainly not least; effective branding allows you to build brand recognition and trust. Research shows that certain colours build a sense of trust; in particular blue. Blue is said to be a colour of calm and serenity, and overall inspires trust.
Trust is a key foundation for any business to be successful. Through branding you are able to gain trust by being open, honest and authentic about what your product or service is. Trust is a part of a brand’s story and a consumer’s experiences, by creating a transparent brand you are more likely to build ongoing trust and relationships with your customers.
There is a large amount of competition these days, which is why you must show your businesses uniqueness and assets to stand out of the crowd. To do this, you should invest in creating a brand that will attract and retain customers’ attention, and loyalties. Get in touch with us today to make your business visions and dreams come to life.