Branding is important because it makes you unique from your competition. Find out more about the importance of brand development in this beginners guide.
Branding is the bread and butter of an organization. It’s the overall personality of your company. It’s your name, your company policies, and your relationship with your customers and employees.
But, many businesses believe that branding is about creating a logo and a tagline. Unfortunately, it’s not that simple.
In this article, we’re going to give you an introduction to the importance of brand development. We’ll also share some tips on how you can get started creating your brand.
Before that, let’s start with the basics.
What Is Branding?
To start a brand, you need to know what branding is.
Your brand is your promise to your customers. It’s what makes you different from your competitors. It tells your customers what they should expect from your products and services.
The three components of branding include:
- Emotional impact
Your brand has to have a functional purpose. It should also be consistent.
In other words, everything your company does should follow your individual branding. This is because 90% of millennials in the United States. expect consistent experiences across all channels when dealing with brands.
The emotional impact you have will shape how your customers feel about your company, products, and services. To help you develop the right emotion, you have to understand the following:
- Your target audience
- Your competition
- The products and services you offer
- Your Unique Selling Point (USP)
With this information, you’ll be better equipped to create a brand that customers will follow and buy from.
6 Reasons Why Brand Development Matters
Branding is key to the successful development of your company. Here are 6 reasons why brand development truly matters:
1. Standing Out From the Crowd
Starting a brand will allow you to stand out from your competition. It’s what will make you unique from other companies in your industry.
With the right branding, you’ll set the tone for your entire company. From your marketing to customer service, and everything in between, all your processes will fall in line.
2. Establishing Yourself as an Industry Expert
Companies who create an identity for themselves find it easier to set themselves up as industry experts. The right branding shows confidence. It shows that you are serious about your business’ success.
This confidence is something that customers will admire, putting you on their radar as a brand of choice.
3. Forming Strong Relationships With Customers
When you start a brand, you are telling your customers about your company. You are showing them your company’s personality.
Additionally, your branding will give your customers a glimpse into your values and the benefits of working with you. This transparency and authenticity will help you form a bond with your audience.
4. Creating Employee Advocates
The right branding shows dedication and pride. Your team members are more likely to become advocates for your brand if they are proud of the company they work for.
If you have a clear message and values, you will create an internal culture that employees will support.
5. Supporting Marketing Efforts
Aside from making employees proud of the company they work for, the right branding makes it easier for them to do their job.
The best brand strategies put everyone on the same page. By creating a clear personality and message for your audience, your marketing department will always know which goals they are working towards.
This paves the way for high-quality content that your sales team can use to create new leads.
6. Driving a Higher Price Point
Have you ever bought a product because you liked the packaging or logo on it? If so, you’ve fallen for good branding before.
Customers love companies with good branding. It shows they pay attention to detail.
Take Apple, for example, the company’s branding is streamlined across all business processes. From its slick logo to its shops, Apple always has a wow factor over its competition. The company’s branding alone makes its products more valuable.
Your branding will represent why your company sells what it sells. If you can create a convincing case for this, your customers will be happy to pay more money for your products or services.
Developing Your Brand
Starting a brand is not easy. Branding is all about self-discovery. The process takes time. Before you start, you should know:
- Your vision and mission statement
- The features and benefits of your products or services
- Your target audience
- Your USP
Once you have done your research, there are a few basics you need to put in place. Here they are:
Get a Logo
Your logo should be unique. It should be a design that you can see your company carrying as a trademark for the foreseeable future.
Unlike popular belief, creating a logo isn’t difficult and doesn’t have to cost a fortune.
With services like Logo Maker, you can create a company logo in less than 5 minutes by choosing from more than 10,000 logo design templates.
Choose a Tagline
When creating your tagline, ask yourself: what is the key message you want to send to your customers?
It should follow the “voice” of your company. It should be memorable. And, above all, it needs to capture the essence of your company in a concise way.
Brand consistency is key to your company’s success. If you make promises to your customers that you can’t keep, they won’t come back. They also won’t refer their friends and family.
You should integrate your branding across your entire company. It should shine through your marketing, the way people answer the phones in your office, in your emails signatures, and so on.
Make everyone in your company aware of your brand attributes and set standards so that everyone is on the same page.
Also, make the job easier by creating templates that everyone in your business can use. These templates should have the same:
- Color scheme
- Logo placement
- Tone of voice
By creating a level of consistency across all your marketing materials and internal documents, your brand will be easy to identify among the competition.
Stay Up-To-Date With the Latest News
Brand development is essential to the success of your business. It is key to making you stand out from the crowd.
That said, if you want your company to continue to thrive, you have to stay up-to-date with the latest business news.
At Small Business Brief, we share a mound of business tips that will help your business grow.
Stay ahead of your competition by checking out our articles here.