Branding, the buzzword for business
Branding, if we go by definition, it is a marketing tool which any company or establishment uses to create and build name, symbol or design that is easily remembered as belonging to the company. This helps to identify a product and distinguish it from other products and services. Branding is important because it makes a lasting impression on the minds of consumers and it allows you to establish connections with your customers and clients for a long term relationship. It is certainly a way of distinguishing yourself from the competitors. It also helps its target group to decide why you’re the better choice and brings clarity in their minds what makes your offer so special. Your brand is built to be a true representation of who you really are as a business, the character and thought process of the people behind and how you wish to be perceived.
There are many areas that are used to develop a brand including advertising, customer service, promotional merchandise, reputation and logo. All of these elements work together to create one unique and (hopefully) attention-grabbing professional profile.
Why Is Branding Important?
Branding is absolutely and supremely critical to a business because of it’s overall impact it makes on your company. Branding can change the whole perception of people about your company and the products or the services you provide. it can attract new business and increase brand awareness.
Branding Gets Recognition
The most important reason branding is important to a business is because it is how a company gets recognition and becomes known to the consumers.
The logo is the most important element of branding. It the face of the brand. A professional logo design should be powerful and easily memorable, making an impression on a person at first glance.
Logo communicates the story of the brand.
Branding Increases Business Value.
Branding is important when trying to generate future business, and a strongly established brand can increase a business’ value by giving the company more leverage in the industry. This makes it a more appealing investment opportunity because of its firmly established place in the marketplace.
Branding Generates New Business
A good brand will have no trouble drumming up referral business. Strong branding generally means there is a positive impression of the company amongst consumers, and they are likely to do business with you because of the familiarity and assumed dependability of using a name they can trust. Once a brand has been well-established, word of mouth will be the company’s best and most effective advertising technique.
Improves Employee Pride And Satisfaction.
Great brands attract great talent from the society. Highly intellectual, skilled and talented people always strive to work woth great brands.
When an employee works for a strongly branded company and truly stands behind the brand, they are more satisfied with their job and have a higher degree of pride in the work that they do.
Creates Trust Within The Marketplace
A professional appearance and well-strategised branding will help the company build trust with consumers, potential clients and customers. People are more likely to do business with a company that has a polished and professional portrayal. Being properly branded gives the impression of being industry experts and makes the public feel as though they can trust your company, the products and services it offers and the way it handles its business.
Branding differentiates product from competition
Different brands have different identities. Branding helps in differentiating the product from the rest and position it in a way the company wants. This is done by developing a distinct outlook by working on brand identity, brand message and brand tonality.
A good brand will always:
Clearly deliver a message
Confirm the brand's credibility in the marketplace
Emotionally connect target prospects with a product or service
Motivate the buyer to make a purchase
Rohit Raul
Founder & Chairman
Business Opportunities Club
Entrepreneur, Speaker, Personal brand consultant & coach.
He also serves on International Business Committee of IMC.
