It is widely accepted that a well-established and easily recognizable brand is a powerful tool for business. However, it isn’t as widely understood why branding is such an important aspect of business or why a failure to properly implement branding can be so damaging to business. In this article, we look at why developing a solid brand is so important to the success of a business, as well as some tips for developing your own strong brand.
Customer Recognition
As a species, humans are far more inclined to trust what is familiar to us. It is a hardcoded survival trait that is as intrinsic to us as breathing. This is brilliant for branding in business as, over time, customers will come to recognize, respect, and trust your brand, so long as you remain consistent and prominent.
This is the core idea of branding and is the reason why specialized, high-quality labeling, among other things, is of the utmost importance when producing well-branded products. As customers use these products, they are repeatedly exposed to their branding and come to trust the brand through familiarity and positive association.
Improved Advertising
This familiarity and trust have far-reaching benefits for business. In terms of advertising, customers are far more likely to put their trust in advertisements coming from a familiar brand. As a result, advertisements by these familiar, well-known companies will be met with far more confidence than they might otherwise.
Applicant Quality and Employee Pride
Even with the boons of customer recognition and improved advertising, we can see that the effects of familiarity in strong branding reach further still. There is a certain kind of prestige in finding employment with a company with a strong brand image. Applicants believe that a strong brand brings with it equally strong opportunities and, because of this, having a well-developed and recognizable brand will boost the quality of applications made for your open positions.
Beyond that, your employees will also feel a boost of pride in working for a well-known and respected brand. Their company name will be recognized when they see it, and they can feel pride in their work, knowing that their brand is known and loved.
Building a Strong Brand
Knowing what a brand can do for business is an important first step to creating your own. To help with this, here are a few quick steps to quickly increase the power of your own brand.
The first thing you should concern yourself with is brand consistency. Is your brand represented consistently across all your business dealings? Consistency is one of the simplest fixes for any brand and is reported to increase revenue by up to 33 percent.
Another easy way to improve your brand is to consider your brand logo. Your logo is likely the most recognizable portion of your brand. The design of your logo will have a significant effect on your brand’s effectiveness. For example, color can improve brand recognition by up to 80%.
Also Read: Tips for Growing Your Business Brand
