THE POWER OF BRANDING
The branding can help a company triumph in a price war, thrive in a recession, or simply grow operating margins and create shareholder value. Like the brand itself, premium investors are willing to pay for the stock with a branding edge. Reasons below are why branding matters:
1.1 Form a Stronger Customer Bond
Branding is the first impression your company will have on a prospect. A strong brand is able to express the importance of their drive, products, mission, policies or services to their customer base with good branding. As branding gives values and benefits insight into a company, it helps them form a bond. Customers are more likely to care about a brand when they understand what the direction of the company is and “buy-in” to the feeling the brand portrays.
1.2 Create a difference
Branding is a way of clearly highlighting what makes your offer different to, and more desirable than, anyone else’s. Effective branding elevates a product or organization from being just one commodity amongst many identical commodities, to become something with a unique character and promise. It can create an emotional resonance in the minds of consumers who choose products and services using both emotional and pragmatic judgments.
1.3 Support Marketing and Advertising Efforts
Great branding can make it easier for employees to do their jobs. With a clear company message and personality, branding makes the job of the marketing and advertising teams easier by providing a backbone for their efforts. Strong branding and content will establish materials that could be used by the sales and advertising team to support customer needs and improve the draw for new leads.
1.4 Add Value by driving a higher price point
People are generally willing to pay more for a branded product than they are for something which is largely unbranded. While a product or service is important, it is the brand that makes the company stand out from the other companies in its industry.
Good branding focuses on “why” a company does what it does. If your company can present a solid case for why you are doing what you do, then your customer base is more likely to pay top-shilling for it.
1.5 Build a loyal customer base
Creating a connection with people is important for all organizations and a brand can embody attributes which consumers will feel drawn to. Great branding makes customers want to remain with the company and then tell others about their experiences.
Customer advocates are the most valuable marketing tools your company can use to change minds and persuade leads.
In summary, every aspect of your company says something about who you are and what you have to offer. Branding is important for every company to set itself apart from the competition and define its mission for both customers and employees.