When it’s an allergic season, ask for a ‘Kleenex’ instead of tissue paper; you might enjoy a “Popsicle” on a hot summer day instead of an ice cream pop; and you ‘Google’ something when you have to search the internet for information.
These are expert brands in action. Some companies have pushed their brands so successfully that the brand itself has surpassed the general term, as in the above cases.
Good brands are indispensable for the success of your business, and there are numerous benefits associated with it. Having an easily recognizable brand drives new business through verbal referrals, while making it easier to export new products. It also helps to create cohesion within your business and attract the best talent to your open roles.
Read on to learn more about brands and the five biggest benefits for small and large businesses.
What is the purpose of branding in marketing?
It’s easy to combine brands with other forms of marketing, but it’s not exactly the same. Marketing is what you do to send your products and services to potential customers, while branding is basically the way your business presents itself to the world.
Trademark includes the obvious components of name, logo, colors and fonts, but it also incorporates your mission, values and motivations, creating an all-encompassing brand identity that, if done right, can easily associate customers with your business. This is important: you want your customers to do it bird something if they think of your business.
The main goal of your brand strategy should be to differentiate yourself from your competitors and create brand equity, or commercial value that is only derived from the perception of the brand. Doing so builds trust and loyalty among your target market and puts you at the forefront of your potential customers’ minds when it’s time to buy.
Developing an easily identifiable tone and logo, aligning your values with those of your customers and eliciting a strong emotional response to the look and thought of your brand is a sign of an excellent brand strategy.
5 benefits of branding for companies
1. Brand awareness: One of the strongest and most advanced benefits of high quality brands is brand awareness. Customers who already trust your business and recognize your clear color, logo or font will most likely buy your product or service. This way, brand awareness plays a big role in selling your products or services.
2. Manage new business: Word-of-mouth referrals are still the proven way to run new business. This is especially true for small businesses, 85% of them report that oral references were the best way to conduct local business. When customers can quickly and easily recall a brand they use and trust, it’s better to refer your business to their friends and family.
3. Shared values build cohesion in the business: Strong brand equity not only helps strengthen your relationships with your customers and clients – it also helps create a clearer sense of mission and direction within your business that enhances coherence and ensures that you all work towards the same set of goals.
4. Easier to implement new products: If you have a strong brand in place, a lot of the work of marketing and selling your products and services has already been done. Once you have built up some trust among your customers, it is much easier to convince them that your latest product is worth buying. Think about it: Apple does not have to be very convincing to create interest in the latest iPhone, does it? It’s good brand at work.
5. Better applicants: Customers want to buy from brands they know and trust, but the same goes for job seekers. Good brands can help you attract a larger and more talented pool of applicants to your open positions, to ensure you get the best of the best hires.
The main types of brands, with examples
The visual components of your brand are some of the most important – and ultimately attention-grabbing – features of your brand. A good visual branding strategy conveys your company’s personality and style to your audience through visual cues (ie are you comfortable and relaxed or serious and inventive?). It helps them to learn from you without having to dig too deep.
Think of Apple: Apple’s visual branding style is silvery, smooth, sharp and new, and this is evident in their stores, logos and, of course, in their devices. You do not need to know much about Apple to understand that it is developing and selling some leading-edge technology based on its brand alone. And that’s exactly what good visual brands need to do.
Social media brand
A large part of social involvement and consumer activity takes place today social media, so it’s important that your business has a clean, consistent online presence in all social networks. Social media is one of the few places where attention is measured within seconds, so it is important that users can identify your business within this short amount of time.
Amazon’s presence on Twitter should set an example for other companies. The company has dozens of different accounts for many of its products and services. Although each account has its own distinct edge, there is a distinct sense of continuity that includes similar colors, colors, fonts, and messages between each, indicating that it is Amazon’s. The bottom line is that users do not have to work hard to realize that your social media account belongs to your business.
Want to make sure you’m ready for Prime Day? Read how to check your membership settings in the Amazon app and prepare for our favorite day of the year! Download the Amazon app to get started: https://t.co/EaAjtbEhcI pic.twitter.com/AeAd6AMWWG
– Amazon (@amazon) 12 June 2021
Corporate brand covers all elements of your business’s branding strategy, from marketing its products / services to ensuring that all digital touch points are synchronized. At the end of the day, a customer should feel that he is getting the same message from the same company, no matter what part of your business he is in.
Nike is at the forefront of the corporate branding world. Its mission to improve physical performance through athletic wear is ongoing throughout every section of its brand and marketing, from the motto “Just Do It” to its marketing materials with athletes in the zone.
Do not overlook the importance of branding. The right branding strategy can make or break a business, and it’s important to ensure that you have a clearly defined brand that permeates all of your products, services and touchpoints, to ensure that you stand out when you customers are ready to buy. Doing so drives your business forward.
Source: EIN Presswire