The Benefits of Branding: Laying the Foundations of a formidable BrandBranding is a global buzzword. It’s the roar of entrepreneurial conferences and the focal point of online business videos. From corporate bigwigs to small local businesses, everyone’s talking about it. But the real question is why is the branding of such heightened significance? How does it help a business put forth a solid statement in the marketplace? How does it separate the commoners from the kings? Does it provide an advantage against your competitors? If so, then how? Understanding the benefits of branding is vital to get to the bottom of these questions. But before we actually delve into its nitty-gritty, let’s first understand its meaning.
What does Branding Entail?Most companies have a rudimentary understanding of branding at best. They think it’s only limited to signature fonts and colors and all-in-all “just looking pretty” and therefore are only able to the scrape the surface of this powerful marketing tool. Branding is, in actuality, a delectable dish concocted from a long list of ingredients, each equally important and equally contributing to the overall success of a branding campaign. These ingredients are as follows.
- Social media presence
- Customer service
- Website and marketing
- Taglines and slogans
- Brand Personality
- Product specification
- Work ethic and workplace culture
- Design elements (color palate, colors, typography etc.)
The Qualities of a Strong BrandRemember; when it comes to branding, finer details make a big difference. While the quality of products and services is important; they are not the only critical things. A solid brand message, customer service, target marketing, and many other factors come into play and prove pivotal in making a brand shine. In the end, what makes a strong brand isn’t just one single thing, but a combination of several. Understanding this is key. One fine example of a respectable and strong brand is Nike. Excellent customer experience, stellar advertising, solid call-to-actions, clear brand message, high-quality products, and many other solid points, have cemented its place in the global marketplace. Rarely will you find it lacking in any brand constituency. Similarly, other corporate magnates like Amazon, Paypal, Facebook, don’t just have an eye-catching logo or a great tagline, but a killer combination of many other things.
The Benefits of BrandingNow Onto the million dollar question… how does branding help raise a business among the common herd? How does it actually impart something extraterrestrial, something unique in a brand’s personality?
Increases Customer recognition
Design By: Jyothi
2. Helps build a loyal customer baseWithin no time, branding transforms a one-time customer into a loyal fanatic that awards his trusted brand with lofty public praise. Once a customer has a good experience with a brand, he is bound to keep coming for more as long as the quality of branding is maintained. When a business pays heed to the quality of its products and services and also hits the bullseye in terms of branding, customer loyalty shoots through the roofs and brings revenues in the thousands and millions.
3. Conveys a Consistent brand image that builds Customer LoyaltyAn inconsistent message equates to an incoherent, murky, and misunderstood image of a brand. When a business has its branding figured out ― personality, website layout, fonts, and print etc. ― only then can it ensure that the foundation of its business is not shaky. Otherwise, its future marketing campaigns trundle down like a building undergoing demolishment. For instance, if you’re designing a flyer to introduce a new product, and have no idea about the copy, the design elements, the printing specifications, then the flyer is going to turn out an untargeted mess, an implosion of implosions. And even if you do have an idea, and you keep on changing things up, you are going to confuse or rather keep your intended audience “in the dark”. The trick is to single out fonts, images, copy and other branding aspects and to stick with them, to keep marketing consistent throughout.
Design By: Alexandra Colvin
4. Fast-tracks the launch of new productsWhen lays introduces a new flavor into the market like French cheese or even an eccentric one like herb yogurt, it catches the public eye instantly. Already familiar with the brand and its longstanding history, its loyal customers or even the ones who have heard of its upstanding branding standards, set out to try its new products. In a way, branding helps to promote new products and services.
Design By: Benish Ayub
5. Raises CredibilityProfessional credibility is of utmost importance in this merciless era of corporate combat. If credibility is Cupid’s bow to keep customers stay blindly in love, branding is the limitless stockpile of arrows. A strong brand stands resolute in its industry; its fierce rivals respect it and hold it in high esteem and its customers swear of its credibility. Visually arresting aesthetics, engaging marketing techniques and top-of-the-mill customer service paint a solemn and professional image of a business.
Design By: World Packaging Design
6. Attracts Talent and retains employeesSkilled labor is attracted to a strong brand like ants to dice of sugar. Everyone wants to somehow associate him or herself with it. Whether it’s an Online marketing company or a world-renowned graphic designer, a company with a strong branding policy, is in pole position to cherry pick the best. And of course, when wielders of creative magic work with a brand, it’s bound to benefit heavily ― innovate and revolutionize the industry. Staff retention also works in the same way. A strong brand rarely gives a reason for its employees to up and leave them for another rival. I mean, come on ― how many times do you see a Google employee leaving his job for a new startup? Once in a blue moon. According to a study conducted by Linkedin, an established brand registers at least 2.5x applicants for a single job post. A study done by career arc showed that 75% of job aspirants consider branding to be a major decider in job hunting.
7. Builds empathy between Company and ClientA lot of companies have strong empathic values. Some proclaim to plant trees for each product sold, while others announce that they are going to act as a medium for donations for the homeless. The creation of this empathic connection also falls under the auspices of the ‘all powerful branding’. Harnessing this emotional connection with the target market helps a brand to develop a more intimate, a rather friendly connection with its customers. It enables it to get in close with them and uproot the fence between corporation and customer.
Design By: Christina