Why Branding Is Important for Your Business
Small Business Branding
If someone was to ask you what was your brand, often the first thing that would come to mind would be your products. And while products are an integral part of your branding, they aren’t the only part.
When you are a small business, there is the feeling that you simply cannot complete with the big businesses. You don’t have the budget, the resources or the dedicated staff to concentrate on your branding. But this doesn’t have to be the case. The online world means that customers can find businesses of all sizes in exactly the same way with a button clicked or a finger swiped and it also means that you can spend a little on branding to accomplish the kind of parity with those big businesses that would once have been impossible.
Creating a unique identity for your business allows it to stand out from the crowd and also to create customer loyalty – that equals business growth. By seeing yourself as more than a business, you will begin to reflect your customers and therefore more customers will feel a connection with you.
There are a number of clear benefits for a cohesive brand for your business. Here are a few ideas to inspire you.
We all worry about wasting money when we buy something online and one of the ways that businesses can help to build trust with customers is through brand recognition and good reputation. Making your business easy to identify to the customer creates that brand recognition and when they have a good experience or love your products, they remember who you are.
Branding also has an instant impact when people first interact with your business. In fact, nearly half of customers say they are more loyal to a customer following their first experience or purchase from a company and this initial impact from your brand plays a part in this.
There are lots of approaches to branding that can help. For example, a catchy name can work while a visual impact from brand colours and logos can also work. However, the best results come from putting it all together – remember, people only recall around 10% of what they see for around three days. But pair that information with visuals and the rate increase to around 65% of what they have seen. This is why nearly three-quarters of social media marketers use visuals in their social media marketing approaches, ahead of blog content (68%) and videos (60%).
Another approach is to make your products so recognisable that the customer knows where they are from without any other branding elements. The association remains in their minds and allows your reputation to grow organically.
Supporting your Reputation
Brand reputation is very important to companies of all sizes. It is made up from how you run your business, how you reward customer and how you deal with both positive and negative feedback. These all contribute to what people think of your business.
By creating a strong brand, customers are more interested in buying your products or services, even when they may not have been in the market for them. In fact, 91% of customers say they are more likely to buy from a company if they view the branding as ‘authentic’.
In order to handle this reputation, you need a team of skilled marketers and customer service personnel. This allows the growth of reputation through word of mouth, review sites, online feedback and, of course, social media. Personalised content also helps with this, with 78% of customers thinking that companies who produce custom content are more trustworthy than those creating generic content.
Leads and Sales
Understanding who your audience is and what strategy will connect with them often leads to new leads and sales queries. This is when you continue to build your reputation with every interaction – ensuring response times are correct, the brand voice is consistent and that all content fits with the strategy.
Not only does a recognised name and strong feedback generate more leads but they are more likely to convert to sales and even become repeat customers.
Even if you only have one or two employees, motivation is still an important thing to consider. Staff that are unhappy or discontent can not only affect their performance but the reputation of the business. Put simply, unhappy workers will convey this unhappiness to everyone they deal with and rarely have anything good to say about the company. So employee motivation and happiness can have a positive impact on business reputation.
By creating a strong and popular brand for your business, you create something that staff can believe in. And when social media feedback and customer reviews back this up, they will feel their efforts are working. When all customer interactions are in the same positive tone, this has a positive effect on the brand reputation and therefore employee morale.
Investors are also more inclined to become involved with a company that has a strong, viable brand. In fact, Reuters say that 82% of investors look at brand strength and name recognition when deciding where to invest. This means that branding is important for all aspects of the business from customer service and employee motivation to potential investors.
These are just a few examples of how a strong brand can help your business. By creating a strong and well-planned strategy that is optimised for your goals, you can grow your business and find the success you desire.
© 2017 Dawn Gribble