Why company branding matters?
Company branding is the most efficient way to show potential customers what your business is about. It is reflected visually via the logo and company design elements as well as through verbiage in marketing materials, slogans and informational copy.
The brand is a promise of the value you’ll receive.— Fast Company magazine.
What is branding?
Branding is a fundamental way for companies to build value in their product. A strong brand provides your business with value by operating as an experience, as opposed to just a trademark.
Branding goes far beyond a graphic component or a reputable logo – when you create your brand, you need to consider the entire customer encounter, including website, social media, and employees. Essentially, your brand is the way your customer perceives you and the experience they have with your business.
Branding promotes recognition, which is crucial as people have a tendency to do business with companies they are more familiar with. If your branding is recognizable and consistently enjoyable experience, it will help consumers feel more comfortable using your product or services.
It is important to remember that your brand represents your company in every aspect, from your staff to your marketing materials. It helps you create a perspective of clarity and stay focused on your goals, mission, and vision as an organization. The full brand experience tells your consumer about the kind of business that you are, which means you want to be telling the right story about your company.
Why is Branding Important?
One of the key factors of branding is not just getting your target market to choose you over the competition, but by getting them to see you as the sole provider or solution to what they need. This allows consumers and businesses alike to both receive what they desire – a quality, trusted product for the consumer, and a loyal customer for the business.
Longevity is another important factor to consider when branding. Products have life cycles, so brands have to outlive products to a point where, regardless of the deliverable, consumers will trust that your company will fulfill their needs.
Branding builds financial value in your organization, so think analytically about how you want to be regarded and what will deliver the most effective results. That being said, it is important to not try and appeal to every single person – you know what they say, “You can’t please everyone,” and this holds just as true in branding.
Rather than sticking with a vague audience, focus on the niche target market for your product. Another prime example of exemplary branding is Nike, which was founded in 1964 as Blue Ribbon Sports and rebranded as Nike Inc. in 1971. The famous curved line that goes thicker at one end initially had the company name included in the logo, but after over 50 years, it has simply become the “Swoosh.” The Nike brand is so notorious that the logo doesn’t even require the company’s name – minimalism at it’s finest. This is the direction you should aim to move towards when branding as an organization.
The best branding is built on a strong idea, something that you and your team can commit to and deliver on. Your brand needs to be felt through your entire organization – when a business is clear on a brand and can deliver that promise, loyalty among your customer base will follow suit.
The most profitable companies, regardless of their size, all have one thing in common: they have established themselves as a leader in their particular industry by building a powerful, memorable brand.
One of the easiest way to boost your branding in this day and age is through online marketing – utilizing your website and social media platforms is the simplest way to show customers the voice of your company. A powerful brand is essential to generating referrals or viral traffic.
If you want people to recognize your organization and have an emotional connection to their experience with you, let them see the personality of your company by utilizing the infinite customizable opportunities of online marketing.