‘Branding’ is a marketing buzzword that gets tossed around all the time. Though it might sound like another generic term, the truth is that branding is a significant aspect of today’s business world.
Effective branding can generate consumer trust, better sales, and even elevate the net worth of your business, no matter your industry or company size.
Make sure to keep reading as we dissect some of the top reasons why it’s important to build your brand.
Competition might be great for consumers, but for businesses, it presents a new challenge thanks to the digital age. Customers are inundated with advertisements. One report suggests that the average person sees as many as 5,000 advertisements per day.
Not only do you have to worry about delivering a great product or service, now you’re tasked with standing out from the competition. Creating a personal brand is an easy yet elegant way to achieve this goal.
Elements of a brand include:
- Color scheme
- Web design
Different is good. Start thinking of ways that you can use these elements to stand out.
Keep that figure of 5,000 ads per day in mind. Anything you can do to increase visibility helps.
Say you’re grabbing a soda at your local grocery store. Odds are, you’ll gravitate toward a major brand like Coca-Cola or Pepsi instead of an unknown.
That’s because you know what you’re getting when you buy a Coke or Pepsi. Customers know what to expect when they see those logos. Since they don’t have to worry about product quality, they’ll spend more on the brands they know.
You, too, can use these ideas to grow your brand’s credibility. And you should. If consumers view your brand as reliable, they’ll hesitate less when it comes time to buy from you.
Strengthened Marketing Efforts
Marketing doesn’t have to be a trial and error-based endeavor. Branding is all about establishing a set of guidelines and best practices to reach your audience.
As you start building your brand bible, think about customer pain points. Which companies are leading the charge? What pain points are customers still struggling with?
By better understanding your industry and your customers’ needs, you’ll have an easier time reaching consumers.
Say you’re looking to hire a freelancer to work on some marketing materials using a platform like Shake. By handing them your guidelines, they’ll have a better idea of who your business serves and what your company stands for. As a result, they can deliver a better product.
Build Your Brand to Build a Better Future
As we start to wrap things up, let’s take a quick recap of what we’ve learned today.
Branding can help your business stand out from the crowd, whether through your logo or company voice. Likewise, as you build your brand you’ll also build credibility, leading to consumer trust and stronger sales.
Finally, creating clear guidelines for your brand can better direct your marketing. You’ll spend less yet see stronger results.
For more information on building a brand, make sure to check out the marketing section of our blog!