3 Minute read
Should you really bother Branding your Business?
Dec 26, 2021
You've probably heard marketing experts and gurus talking about how you need to brand your business in order to have long-term success, but on the other hand, you might be thinking about how some businesses you know don't even have a logo and are still getting customers...
So, should you really bother branding your business, or is just focusing on the product enough?
Let's find out!
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What is Branding?
Long story short, branding is the gut feeling of your customers or observers about you, your Business, and your services.
This means that branding is essentially just your business's "reputation", meaning that the quality of your Brand is completely subjective to each and every customer.
Some customers may only remember that rude staff member who had no patience to explain the product or that funny T-shirt all employees wear while working... whatever first pops into their mind when thinking about your Business is what your Brand is.
So, branding is REALLY important. Every business needs customers in order to keep things moving and stay profitable, and focusing on all aspects of branding will help you build those crucial relationships with your customer.
But what are the benefits that come with Building a good Brand?
The benefits behind Building a good Brand
The benefits of building a good Brand are never-ending, so let's sum up the main benefits every business is guaranteed to have:
You'll have long-term loyal customers
Everyone sticks to what they know and trust, and branding can help recall those past experiences and impressions to attract previous customers.
Many brands like Apple have an enormous loyal customer base that would rather not use any phone at all than switch to a different brand.
Building a Brand that people can trust and stay loyal to, can also allow you to sell new products much easier since your loyal customers don't necessarily need to spend hours on reading reviews, checking if your business is legit, and contemplating decisions.
They will keep buying because they know your value.
Building a Good Brand will bring New Customers
Building that trust and loyalty with your customers encourages them to talk/spread the word about you and the services/products you offer.
Customers become advertisers and protectors of your brand.
This way you'll be able to attract new customers and achieve that amazing "domino effect" of High-Quality Branding success that every company wants.
And if your company is ready to live up to the expectations... then you're "off to the races" (💰💰💰).
The Value of your Business Increases
Many Brands like Google, Amazon, and BMW, are so well-known and strong that they have created their own worth.
This allows them to set higher prices based on their Brand value + Product value.
If you were looking to buy a new Phone and you find two Phones with similar specifications where one "off-brand" phone costs 499$ and one Apple phone that costs 799$, Which would you choose?
Apple does indeed make High-Quality phones with Premium build quality and technology, but they know that their customers love their products so much and value the Apple logo on their Phones that no price is too high to pay.
Having a High-Quality brand that everyone loves and respects encourages and motivates your employees to work harder, better, and stay in your company longer.
It's been proven many times over that people don't go to work only for the money. Working on something meaningful, rewarding, and empowering means much more to many of us than working for a company that pays better but makes us miserable.
So, building a High-Quality Brand leads to numerous benefits and long-term success, but you might say:
"How can I Start building a High-Quality Brand for my Company?"