While there are many benefits of branding, this article explores 5 Major Benefits of a Strong Brand. Branding can be one of the best tools that you can use to grow your business income. Establishing a brand takes time and hard work. It doesn’t happen overnight. But once you build it you will be glad that you did.
5 Major Benefits of a Strong Brand
- A strong brand means that you’re recognizable. It’s great to be remembered and when you are known for something in the marketplace it means that your business is the “go to” brand. When your brand becomes recognizable it means that you don’t have to spend a lot of money to find your ideal customers. Because your brand is recognizable people will come looking for you because the word will have spread about you. This is the winning factor of branding.
- Loyal customers and super fans are always the end result of a having a strong brand. Your loyal customers will become your defacto PR company. They will spread the word faster than you can.
- You will become well known and will gain a competitive edge in the marketplace. Remember that just because your brand has become recognizable that doesn’t mean you won’t have to market and promote your business anymore. You will still have to do this but you will have a leg up over your competitors.
- Credibility. There is nothing like having credibility in the marketplace. This is what happens when you build a strong brand. Credibility and testimonials will make it easier for you to get more sales.
- Business Growth and Influence. Once you build a solid brand and the word gets out your sales will grow and so will your influence. This creates a win-win scenario.
What Constitutes Branding?
Now that you know the 5 major benefits of a strong brand, you may be wondering what in the world is branding? Branding is more than a logo and tagline. While that’s a part of it, you should know that branding is also a feeling that someone gets when they think about your company. It is also a hard recognition factor.
Branding is about creating a look and a feel that’s memorable. But it’s more than creating a logo and having colors that represent your company. It’s about what people think when they see that logo and those colors. It’s about the way you write, the way you craft your messages and the journey that you take customers on from day one.
Branding begins the moment your business comes in contact with a potential client or customer. This is why you have to truly understand their needs and wants.
How to Develop a Strong Brand
First of all, consistency is one of the key building blocks in building a strong brand. You must be consistent in all interactions that you have with your ideal customers.
Secondly, you must be clear in your messaging. You must understand what your strengths are and you have to be unapologetic about them. If your brand is all over the place then you will confuse your potential customers and they will never buy from you.
And lastly, you have to effectively communicate the value that you provide and help your ideal clients understand that you have the ability to deliver on your promise.
You will be surprised how your much more customers are willing to pay when they hold your products or services in high regard. They will pay premium dollar for items that they believe in.
A good brand will also build a strong constituents of repeat customers. Basically when they like what you offer they keep coming back for more.
Wouldn’t it be great to have a fan base like Beyonce and her Beehive? This is what happens when you build a strong brand that consistently brings a quality experience to your base.
However, you should also know that branding doesn’t always have to be pretty or positive. Some brands are negative and based on lies like the followers of the 45th President of the United States. Love him or hate him he did come out with a strong brand and message that spoke directly to his base and that was “Make America Great Again.”
The bottom line is when the public remembers you, they are more apt to give you a try again and again. This is why branding as a marketing technique has the ability to take your business to new heights which is why you should get started on building your brand today.
Living Your Brand
One of the things that you will quickly discover as you build your brand is that everyone is not your potential customer. Your goal will be to discover who your customers are and live in that customer’s persona.
So how do you live your brand? You do that by living the message of your company. You can use your logo, tagline and other collateral elements like your websites, emails, business cards, product packaging, events and more to relay your brand message. You can also use social media to stay connected with your audience. Also use social listening to stay on top of the trends within your community.
At the end of the day your brand will change over time. Just as times change, you will need to change with the times. Sometimes this may mean a logo refresh, but it doesn’t always mean a complete overall. A business should keep up with the times and grow with your buyers. Also, don’t ever let your brand get left behind the times.
What are you doing to live your brand out loud? Leave a comment below. Also, has your company or brand changed since COVID-19? Let’s talk about it.