THE IMPORTANCE OF BRANDING FOR YOUR BUSINESS
Kaedynce Chew | 19 October 2021
“Do not overlook branding in your business. Here is why.”
What is Branding?
According to HubSpot, branding is the process of researching, developing, and applying a distinctive feature or set of features to your organisation so that consumers can begin to associate your brand with your products or services.
Branding is more than logos and designs, it shapes the perception of your brand to consumers and plays a key role in establishing the base for your business. The reputation of your business relies heavily on its branding so if you want to elevate your brand, read on to find out the importance of branding for your business.
1. Branding Provides Your Business With More Recognition
Branding allows your business strategies to be consistent. This makes it more likely to stick to a consumer’s mind, allowing them to trust your brand and business more. A well-crafted brand leads to more recognition, allowing your business to gain more potential consumers.
2. A Unique Brand Identity Helps Your Business Stand Out From Its Competitors
Next, according to The World Bank, there were 43 thousand new businesses started up in 2018. Among the tens of thousands of new businesses started up each year, it is important for your business to stand out from the crowd and show consumers why they should choose you over your competitors. You can do so by crafting your very own brand identity.
A brand identity allows your business to resonate with its consumers and portray the image you want to them. Your brand values, personality and voice makes your brand more likeable and relatable to consumers. Hence, this makes them more inclined to support you.
3. Branding Boosts Morale Within The Company
A good and reputable branding allows employees to feel more emotionally connected and personally involved in the company. This allows them to enjoy their work experience more and feel more motivated, producing work of better quality in return.
When employees feel in touch with your company’s brand, they are also more likely to stay loyal and work harder. This also contributes to a better brand reputation, since your employees are the faces of the company and that 41% of consumers believe that reviews from employees are more reliable than that of the company itself.
4. Branding Gives Your Business Purpose and Direction
Good branding ensures that your business has clear visions, values, and goals. This greatly boosts your business strategies, as they have a consistent direction to target. Additionally, having distinct brand values will increase resonation among consumers, potentially driving more business to your brand.
5. Branding Leads To Effective Advertising
No business can go without advertising, it is essential for your business’s growth. Branding and advertising comes hand in hand. Your advertising campaigns have to represent what your brand stands for, including the brand message. Solid branding makes your advertising strategies more effective and cohesive. Hence, branding is essential for your advertising strategies to really produce results.
In conclusion, branding is extremely important to your business as it shapes how your brand is perceived. This then leads to more recognition for your company and attracts more potential consumers, therefore greatly increasing your brand value.
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