The Benefits of Branding: Laying the Foundations of a formidable Brand
Branding 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
- Storefront
- Design elements (color palate, colors, typography etc.)
The Qualities of a Strong Brand
Remember; 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 Branding
Now 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 base
Within 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 Loyalty
An 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 products
When 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 Credibility
Professional 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 employees
Skilled 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 Client
A 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
8. It is a source of encouragement
Every artist needs a cup of recognition now and then to keep him creatively awake and driven, and this is exactly what branding regularly provides. Great branding isn’t just a marketing tactic to snatch a truckload of customers. It’s also quite beneficial for the business and its employees. Of course, if a company’s products and services are leaving a lasting impression, they are bound to gather the vote of confidence and appreciation of customers and critics. This appreciation provides encouragement and puts the workers in the mood to further their work, and reach new heights, to keep their loyal customer base satisfied or even surpass their expectations. RELATED: How to Brand Yourself?9. Strong Branding is a great communicator
The more your customers know about your brand’s philosophy, its message, vision and ideas, and culture, the better the client-customer relationship. Not only does branding help communicate the essence of the brand, but also its size and quality. Here’s how… Most fledgling startups don’t want to give off the impression that it’s just a couple of guys in an old garage room fiddling with a couple of computers. Branding can help arrange the persona of prestige and venerability for them. Even though their size is presently insignificant, they can use the art of branding to tell their audience that in the future they are going to be big shots. Quality is also something that branding can help convey. For example, Tesla is the talk of the automotive industry because of its revolutionary technology, eco-sustainable electric cars, and other excellent branding standards. It is therefore deservedly renowned for its quality,10. Brand Loyalty permits you to charge more
Good branding gives you the go-ahead to charge above the market-rate. There’s a reason why Apple’s flagship phones cost significantly higher than Huawei’s or LG’s. It’s because Apple has been in the business for ages. It has used this time to establish a solid brand image. The apple faithful blindly believes in the company’s products. Their loyalty knows no bounds. Even if you somehow find a way to show them that an Android phone is better than an iPhone, they have become so used to their devices; they are highly unlikely to give up on them. And this fierce customer loyalty is the reason why they can charge a premium and get away with it. A new phone company with branding in its embryonic stages can never. Branding is a plant that you have to nurture and raise by the sweat of your brow. Otherwise, it wilts and no one gives it a second look.
