What Is Branding & Why Does It Matter for Your Business?
What is branding and why is it so important for your business? Here's why you need it done by a professional so you can succeed.
Did you know color increases your brand recognition by as much as 80 percent ?
Improving your recognition is crucial to building a stronger ROI. However, if you don't know what branding is, it can be hard to find time for it.
Luckily we've got everything you need right here.
What is branding? Why is it so important? Read on to find out!
What Is Branding?
It's a business term we hear a lot, but exactly what is branding?
Branding refers to the ability of consumers to recognize your product or service without being told that it is yours. This can be achieved through a catchy jingle, a logo, or even a catchphrase.
The better people are able to recognize your brand, the more value it will be for your company.
A great example of this is the Starbucks logo. On Instagram, Starbucks is one of the most documented logos. Over 10,000 images are posted of it every day.
Most of the time the logo finds its place in the photo unintentionally. However, it doesn't matter how unintentional it is or not. That branding translates to better recognition and better sales.
What Are the Benefits of a Good Brand?
There are so many benefits of good branding. The only problem is knowing where to start.
First, a solid brand helps you build credibility. The more people recognize your brand, the more they will associate it with a successful product.
This, as a result, will increase sales, which is a benefit all on its own.
Another benefit is that it has a monetary value attached to it. In business negotiations, goodwill is counted as an asset to the brand. Goodwill is another way to say how people perceive your business, also known as your branding.
If someone were to sell their company and has strong branding, they can receive money specifically for that reason. Why? Because branding plays such a big role in purchase decisions.
You can have a great idea or product, but the branding is what helps transform it into a business.
Another benefit is that branding distinguishes you from your competition. There are thousands of companies that are trying to sell similar products as yours. If you want to have loyalty to your company and products, you need to help your customers recognize them more.
The last benefit is that good branding generates referrals. If someone has a good experience with your company, they'll likely want to share that with others. If they are able to recognize your brand, great! They'll share it.
However, if there is confusion about your brand, it will be hard to share it. And will likely result in a missed business opportunity.
Learn How to Improve Your Branding Today
Branding plays a big role not only in product recognition but also in SEO and blogging. It's the first step of creating a business that will last.
Look at the giants such as Coca-Cola, Apple, and McDonalds. The one thing they all have in common is recognizable brands.
Now is your opportunity to create your own legacy business as well, and it all starts with your branding.
Contact us to learn how to begin today!
