Niche or mass, premium or budget – all brands are all created with the objective of nurturing relationships with their desired audiences. In a world where infinite brands vie for audience attention and loyalty every second, re-establishing or introducing a new brand is one of the most challenging endeavours of modern day business and heavily reliant on strategic creative brilliance and excellence.
1. Company or Brand Awareness / recognition
When you reposition or start a business, you want your customers to recognize you instantly, standing out and away from the competition whether by colour, type or via images is one thing which makes it more likely to identify your brand in a sea of others that are surrounding it. Why? Because it’s eye-catching or familiar.
2. Brand Credibility
When you have a strong brand, you can render your competitors irrelevant in your industry. Yes, it won’t happen overnight.
But, if you implement the best branding plan that fits your company vision, you will smoke your competitors in no time. Your plan should focus on how your products or services will improve your customer’s life.
3.Customer Loyalty and trust
Embracing a brand vision and by creating strong branding, you separate yourself from competitors by having your own story and values. Your brand will nuture authenticity bridging the gap between your company and your customer. This bridge develops customer loyalty and trust.
When customers trusts a brand, they recommend it to their family and friends becoming brand ambassadors.
4. Targeting Your Ideal Customer
Having gone throu the branding processyour would have had a customer in mind. Strong brand images and messaging will help you target your ideal customer telling them why you are the solution to their needs.
Strong branding works hand in hand with your marketing strategy to attract the right consumer. Your ideal consumer will understand your brand and pay chose your products or services no matter what the price. As said before - they are your brand ambassadors recommending you to their loved ones.
6. Communicates your Vision and Story
Your branding tell your story and communicates your values. Why did you start your business? How is your business different ?
Implementing a strong branding campaign, establishes your authenticity and telling your story may grab the attention of your potential customer if your values align.
7. Attracts Talent
When you have great branding, people notice. A good brand attracts not only customers but talent whether employees or people who wish to associate with you or to be a part of what your business is doing. Thus explanding your brand awareness.
Once your business has its branding in place—a vision, marketing, colors, typography, print, website, etc.—it can begin to modeling the rest of its marketing collateral after it. When there are brand guidelines in place, it creates a common platform to breed consistency and keep a uniform vision to your peers as well as your customer base, therefore reinforcing your brand and values to them.
9. Increase Brand Equity
Your brand is one of the tangible assets that determines your company value or brand equity. Having strong brand recognition will increase your company value which in turn makes it attractive to investors and other companies alike.
10. Establish Your Brand as an Authority
Solving a problem and providing value always enhances your brand. When you are the go to brand in your market, you become an authority in your industry. Your branding and constistency is what communicates your postion to your audience.
Focusing on developing strong branding and communications by providing value to your customers will always endear you to them. Always remember What are your customers everyday problems?and does your product or service solve their problem?
These are some of the Benefits of Branding, cost will always be a factor but it should not be the guiding factor. Why you need a strong brand is key and appealing to your target audience.