Ever wondered why companies like Apple, Nike, Uber and Airbnb are recognizable in a sea of companies? With so many businesses in the world, it’s getting difficult to stand out. If you’re overlooking the need to define your brand, you are making a big mistake. This is because branding is crucial for businesses of all sizes, whether big or small. Every business is a brand in itself, it only depends on how it’s being managed by the business owners.
Here are top 5 reasons why entrepreneurs need to spend time defining, establishing, and strengthening their brand.
1. Branding Increases Company Awareness
A person tends to remember iconic brands. Whether it’s the company tag line or logo, whatever lasts in their mind is beyond the visuals. Brand awareness is more than recalling the business name. It’s more about overall product experience customers have had with them. It’s more about being a go-to business whose name stays on the tip of people’s tongues. If you need help generating an innovative business name you can try out the TRUiC Free Online Business Name Generator.
To get your brand’s name in front of your customers, it takes a lot of strategies and action. Guest posting is amongst the great ways to show off your brand to people. Let’s say, you’re a seller of jogging shoes. It would be a great idea to guest post on a fitness company or on a blog of running apps. Similarly, re-marketing, re-targeting, and rebranding your business is highly effective in building brand awareness. It can get your company’s message to those who are already familiar with your business, thereby reinforcing your brand over your competitors.
2. Branding Motivates Employees
Many employees prefer working for a brand rather than working for a company. They want to be aware of a business storyline, and how it came into existence. Knowing the mission of a brand allows employees to strive in the same direction the entrepreneurs has already established.
Being a business owner, you have to think proactively about what sets your business apart from your competitors. And, why should your customers remain loyal with your brand. When you go through these type of questions, it will eventually help you in jotting down a mission statement for your business. This mission statement helps employees in measuring their work-related choices. Therefore, both a strong brand and a strong statement are required to drive employees towards your company.
3. Branding Helps Your Company to Emerge As a Trusted Authority
Thanks to the internet, a huge part of your brand building efforts will take place online. One of the most important routes that let you emerge as a trusted brand is content creation. Apart from entertaining, content helps your customers to know more about the brand. Sometimes customers seek help from content to find solution to their problems. For this purpose, first make sure to research your target customers and their issues. Come up with possible solutions to their concerns, and publish these solutions on your blog, YouTube or wherever platform your target audience is present.
91% of marketers accept that they use content creation strategy to encourage brand awareness. As soon as your targeted buyers find your posts, they will be more likely to connect with your brand to find the answer to their frequently occurring concerns. Eventually, this will help your company to emerge as a wise, insightful and thoughtful brand. With the passage of time, they will consider your opinion and will trust you as a reliable source.
However, you need to be careful while delivering as a trusted authority. A slight overlook can put a damaging effect on your company’s reputation. Rather than promoting your own business, make sure to keep up with your customer’s expectations by focusing only on providing customer’s solutions. This is because 45% of end-users are likely to un-follow a brand when they realize that their brand’s activity is prevailed by self-promotion.
4. Branding Generates New Customers
Customers have a plethora of choices. They are given hundreds of options on the retail shelves that are gaining their attention. But, people tend to make their purchasing decisions based on brand’s first impression. Being a brand owner, you might not want to lose that very first chance to captivate a customer’s attention. So, make the most out of it!
It’s the first impression that counts. In fact, many researchers conclude that it only takes few seconds to decide for customers whether your product is a right solution for them or not. Buying decisions are based on what brands are worth the price. Also, it depends on the extent to which their benefits make customers satisfied. Hence, it’s more about the quality of products you’re offering that sets you apart from your competition.
5. Branding Increases Customer Loyalty
64% of consumers agreed that common values are the main reason behind maintaining a relationship with a brand. Sometimes, it’s no longer about the product or even the technology that keeps you ahead of your competition. It’s the relationship you build with your buyers that will help you win, serve and retain their loyalty.
But, it doesn’t mean you are allowed to deliver faulty products or poor customer service. 91% of customers believe they tend to purchase from an authentic brand rather than from a shady one. Similarly, authenticity of content also remains an influential factor when it comes to make a good impression of a brand.
A few ways to enhance customer loyalty are:
- Initiate customer loyalty programs
- Offer convenience through streamlining your checkout process
- Provide amazing customer service
- Don’t just ask for money, show them your gratitude as well.
It’s a high time to realize that branding is a key for any business success. Don’t overlook the benefits of branding. Instead, make sure to implement the above strategies to create a lasting impression on consumers. Branding is when you speak with a customer, or upgrade your website or publish your ads. Each time you interact with the outside world, you are making your brand voice recognized. This is how you create an impression. Experts recommend entrepreneurs make sure their brand message carry the same brand tone every time it’s being delivered.
Looking to give your brand and website a makeover? Contact us to help you succeed.