Give your customers something to think about when they think of your company by checking out these 10 key advantages to branding you really won’t want to miss!
What are some of your favorite brands? Do you love them because they are great products, or because you appreciate aspects of the brand itself?
Your love of specific products is probably a combination of excellent products and strategic branding. Without effective branding, you might not know about some of the brands you love.
Successful branding might be easier than you think. It only takes five to seven impressions of a brand to create a small amount of brand awareness.
When it comes to your business, you can’t overlook the importance of good branding. Here are ten key advantages of branding that you don’t want to miss!
1. Absolute Awareness
You want consumers to have a state of ultimate awareness about your brand. Think of it as enlightenment.
Your company’s brand is the thing people might know about your company before they understand your products or services. It’s also more than your logo–although your logo should tie closely to what you do.
Your logo should trigger the awareness you want about your brand. Awareness makes your company easy to recognize and easy to share your services. It’s the thing that separates you from everyone else who does what you do in the marketplace.
When your brand develops more awareness, consumers will see you everywhere! Make use of multiple channels to create awareness, including social media and Youtube.
If you’re thinking about creating more awareness for your brand, check out some of the ideas on this useful page about branding.
2. Repeat and Upsell
Your brand builds loyalty. With loyalty comes to repeat customers and upsell opportunities.
If you love a product and a brand, you’ll return to that brand time and again. You’ll replace the product when it wears out. You’ll want the latest and greatest version. You’ll recommend it to others.
Think about the iPhone. With each new version, Apple keeps its brand loyalists wanting the latest version. No matter your product or service, your brand can help drive that kind of customer loyalty.
3. Find (And Keep) the Best!
When employees work for a well-respected brand, they stick around.
Your company isn’t just about the products you sell. It’s also about the people who work to make your products the best!
As your brand grows, you’ll find that recruiting for top talent–and keeping the rockstars–gets easier. You might find that your bigger challenge becomes choosing from too many good candidates when it’s time to grow your company with another job position.
4. Protection
When you build your brand, you protect yourself from the competition. Make sure your branding process includes trademarking your logos, styles, and anything else specific to your brand.
Other companies can do what you do. But, your branding protects how and why you do it.
5. Create Credibility
If consumers already recognize your company as a brand expert, they’re more likely to embrace what you do next.
Your next product launch or a new service already has a captive audience with your loyal brand customers.
As you establish your brand, you build your story. Your story leads people on a path to trust and recognize you like the best at what you do.
Trust and credibility is a big perk of managing and building your brand.
6. Share Your Values
We mentioned the people you’ll bring along with you through your company. Your employees, vendors, contractors, and customers become part of your brand story.
Your brand is a way to share your values. You’ll also create a space for shared values–people coming together with like minds and hearts for a common goal.
Can a brand change the world? Your brand can certainly change the world of those who work with and believe in your products and your company.
7. Quality Counts
Your brand is a way for consumers to find the quality they want in the type of product you deliver.
Whether everyone wants your brand of quality or not isn’t important.
What matters when it comes to your brand is that people can identify you with the quality they want. You become their go-to source for the thing that you do.
If you want to attract better quality customers, improve the quality of your product and your brand. If you’re satisfied with the quality associated with your company name, market your brand to target more customers like the ones you’ve cultivated so far.
8. Word-of-Mouth Makes a Difference
Organic growth is a big thing in today’s marketing. You can pay for slick ads and strategic (and expensive) marketing plans.
But, sometimes your best customers and advertising comes from word-of-mouth organic sharing.
People love to talk about their favorite brands. Online customer reviews can often sell your products better than a paid ad.
Your company’s marketing should be a healthy combination of paid and organic marketing. It’s important not to underestimate the value of word-of-mouth when it comes to your brand.
9. Influence the Influencers
Have you heard of an online influencer picking up a brand you’ve never heard of before? That brand is suddenly everywhere.
You don’t need a significant influencer to take advantage of their audience power. However, when your brand represents quality and something people need, you might influence an influencer enough to benefit from that kind of marketing relationship.
10. ROI and Profits Increase
This last benefit might seem obvious. But when items 1-9 work well, your ROI and your profits increase.
That’s the point of an effective brand! Your revenue increases, you serve more people with your product or service, and you make a bigger difference in doing what you do.
Awareness, loyalty, influence, and credibility come together in an excellent brand strategy.
Don’t Miss The Advantages of Branding!
If you haven’t taken the time to plan a strategy, you’re missing the advantages of branding.
Not everyone has to have an elaborate branding plan like a major corporation. Scale your brand exercise to fit your company.
If you’re thinking of starting a new business or wondering how other startups market their business, check out some of our 2018 Colombia startup finalists!
This is a sponsored post.