As we mentioned earlier this week, we are seeing the benefits of branding with our company logo, giving valuable nuggets and tips and also informative webinars. We are in an age of visibility and consistence. We are in the process of reaping the rewards of this.
We start this week out with the importance of BRANDING:
Beyond just a memorable logo, a rhyming name, or special font, good branding increases the value of a company, provides employees with direction and motivation, and makes acquiring new customers easier.
So what exactly is a brand?
The short answer is: everything including you the owner; it’s what the owner does, says and how the owner’s traits come through in every aspect of the business. It’s the way relationships are built and maintained, the way a person does business and treats other people. It’s how rapport is established at an individual level, where trust and comfort exist as human characteristics, not from theme music, models or slogans.
A brand represents the sum of people’s perception of a company’s customer service, reputation, advertising, and logo. When all of these parts of the business are working well, the overall brand tends to be healthy. On the flip side, we all probably know a company that offers excellent products or services, but has a tarnished brand due to poor customer service.
A brand is intangible so you can’t really quantify its value. We need to know that when we spend money we make more money in return. This is why the Internet is so good. Since actions and responses can be measured, you can determine how much you make based on how much you spend. Even people who don’t spend a penny on advertising, focus on methods of online marketing that are measurable in some shape or form, so they can focus on what works and skip what doesn’t.
It is through repeated exposure that your brand can become synonymous with a product or service category and position you as the leader. If a person is repeatedly exposed to the same image over and over again it starts to create a feeling of association with that particular product category so when a potential customer sees you everywhere (on Facebook, Instagram, Twitter) you become cemented in the awareness of people for that particular product.
A professional appearance builds credibility and trust. People are more likely to purchase from a business that appears polished and legitimate. Emotional reactions are hardwired into our brains, and those reactions exert the most influence on our actions. That doesn’t mean they will buy from you of course, but it does mean they will consider you when looking for that product or service as most people conclude that if persons follow you, you are successful and credible, and this increases the likelihood they will choose you.
Branding enables your company to get referral business. Would it be possible for you to tell a friend about the new shoes you love if you couldn’t remember the brand? A large reason ‘brand’ is the word used for this concept is that the goal is an indelible impression. As small business the most profitable advertising source is word of mouth referrals and these are only possible in a situation where your company has delivered a memorable experience with your customer.
The most profitable companies, small and large, have a single thing in common. They have established themselves as a leader in their particular industry by building a strong brand. With a strong brand perception, people will choose your services above everyone else because of the “feeling” associated with you and what you do.