Understanding why your business should focus first on its branding
When it comes to marketing and getting your company and products known to the public, there is nothing as important as branding. But why is business branding so important and why should you allocate ample funds and consideration into the development of your business branding? Here are 5 reasons which should help you to understand.
Number one: Your Branding Identifies You
Your branding is what identifies you, especially on the internet. Where a logo is a form of branding, your overall brand is the image and the personification which is conveyed to a potential client when they look at your logo, trademark, or business name. For example: if I were to put the Nike symbol without anything else, most people could identify which brand it is. The same is true for the Facebook “F” symbol. It is not just the image which you see but the whole business. Making an image which creates visuals with clients is essential.
It is essential that when you build your branding you take the time to identify where your market will be the most dominant and then develop your brand from that point. Demographics, geographic data, and age markets should be some of the key elements used in defining your brand.
Number Two: Branding Promotes ROI
Branding is a major part of any successful business. The businesses which have the most revenue do not necessarily have a great product (though this is crucial to keeping a client base), but rather a desirable brand. You see people pay for a brand as a symbol of status. The basic concept is that “hey I have this cool brand, it is expensive but I can afford it. Can you”?
Well defined brands increase your ROI as the brand will be sought after by consumers just to have the brand on their merchandise. Don’t believe me? What is a Louis Vuitton bag but leather with iconic branding all over it?
Number Three: Your Branding helps to keep the company focused
Your branding strategy (how you want customers to perceive your business) is paramount in keeping your company focused. How you want customers to engage with your company, how you want them to see your product, and how you want your staff to be seen by customers all goes into your branding strategy. Here is where the branding goes beyond just a logo and starts to be developed into a concept that is related to the public.
Number Four: Your Brand determines the perceived quality of your product
Strong branding and a strong branding strategy will result in a brand that gives off the perception of professionalism and quality. However, if a brand is quickly developed and then slapped onto the onto your products with no considerations to the branding strategy, your business will be perceived as being of low quality both in production and professionalism. This can be tested by simply going to any retail store. Look at the items which have the highest price tag. These are the products with great branding. There is a perceived level of quality (regardless of if it is true). Now, look at the cheapest version of the same product. The odds are that the branding (and by this I mean the logo, the packaging, the wording explaining the product, etc.) is greatly lacking.
The stronger your branding the better your product’s perceived merit will be.
Number Five: Branding promotes Publicity
If you want people to talk about your business or product, you have to have something they can talk about. Your branding is the main way in which people will relate to you. If you have a brand that is strong, modern, and caters to the social media and mobile market (for that is the strongest marketing sector) then your brand will see more recognition. The more recognition that your brand has the more popular your business will become. The more popular your brand becomes the more in demand your product or services will become resulting in higher profitability and sustainability for your business.
The bottom line is you need branding
Professional branding for a business should not be a consideration, it should be the standard. As you have seen, there are several reasons why developing a strong brand can and will help your overall business. PressPoint would love to help you develop your brand. With decades of experience from a team of professionals dedicated to equestrian business and countryside marketing, a branding strategy can be put into place which will drive traffic to your business, develop a public consciousness for your product or service, and help to increase the overall ROI of your product.
If you have any question regarding brand development or any of the services which we offer please feel free to contact us through our site or directly at (0)1953 851513.