What is Branding & Why is it important?
What Branding Is & Why It’s Important
If you asked 10 people what branding is, you’d get nearly as many different answers. So what really is branding and why is it important for you as a business owner to have a definitive answer to that question? Let’s dive into it.
Branding in Simple Terms
In a nutshell, a brand is the perception people have of your business. It encompasses what they think of it, how they feel about it and, by extension, how they react to it.
That said, branding encompasses everything you do and every tool you use to shape that perception. For example, included in your branding are:
- Your visual identity such as your logo and color palette
- The wording, voice, and tone you use to get your message across
- Your use of photos and other imagery
- The user and customer experience you offer to people who engage with you
Why are these elements of your brand so important, though? Why is it worth being intentional about the way you present your business to your target audience?
The Advantages of Building a Brand
Building a brand in contrast to simply growing a business has its perks. Consider 4 benefits of branding.
1. Consistent Branding Boosts Credibility
If you put time, effort, and resources into building an appealing, well-rounded, and cohesive brand, it will show. And that will instantly boost your credibility, establish trust, and give you a polished professional image.
2. Authentic Branding Is Memorable
From your logo to your tagline to your brand colors, you have the opportunity to make your business instantly recognizable. The more memorable it is, the better. Why?
It’s more likely that your business will be top of mind when potential customers need what you offer or know someone who does.
And instead of having to start from scratch to build trust every time they come across your brand, there will already be some mental or emotional connection established between them and your business. The more authentic your branding and the more it aligns with your core values and mission, the stronger those connections. This can give you an edge against competitors they may not have heard of before.
3. Brands Amass Loyal Supporters
Without a brand, your business is relegated to simply offering products or services in a sea of similar products and services. So all it takes is a new and improved offering, a better price, or a clever marketing campaign for customers to switch to your competitors.
With a unique brand, however, your business is less susceptible to losing customers this way. Because you offer something extra that resonates with your audience—a unique customer experience, a more appealing message, etcetera—they have an additional reason to stick with you. Not to mention an additional reason to recommend you to others.
In other words, you can earn repeat customers and brand advocates, which can bring you more new customers also.
4. Branding Attracts & Retains Top Talent
Just like solid branding can attract customers to your business, it can also attract great employees who support what you stand for. In turn, those employees are motivated to provide exceptional service to your customers. This creates a positive cycle; it keeps the customers coming back and the employees happy.
Will You Build a Brand?
Do you currently have a brand or just a business? If you have yet to invest in branding, you’re missing out, ultimately, on additional revenue.
Even worse, you could be leaving yourself open to being beaten by competitors who are investing in branding to set them apart as the best option for potential customers. No doubt, you’d like to minimize that risk and enjoy the many benefits we covered. So take the first step in the right direction today. Let’s have a chat about what your brand might look like.