Branding is a huge topic, and one that is commonly misunderstood. From the business owners who think that building a brand is a simple as creating a logo, to the executives who think they need binders full of worksheets to establish themselves in the market, the new clients we meet with tend to think too much or too little about the branding process.
In this post, we want to take a step back and answer a question that has come to us hundreds of times over the years: why is branding important?
The short answer is that it gets to the heart and soul of your company and its profitability. For a little more color and detail, though, there are a few things you have to understand about the importance of building a strong brand…
Branding Influences Sales, Marketing, and Reviews
Imagine for a moment that all of your customers and potential customers were together in a big room. Now imagine that most of them were saying good or bad things about your products, service, or value. Wouldn’t that have a startling effect on your bottom line?
That, in essence, sums up the value of having a strong brand. Because your brand identity is really just the total of all the opinions people have about your business, it’s easy to see why it’s such a crucial part of your sales and marketing effort. When your brand is strong, buyers are receptive to your ads and offers. When it isn’t, they ignore you or prefer to do business with someone else.
Branding isn’t an item that shows up on your balance sheet, but it does affect all the figures you see there. From sales and marketing to recruiting and reviews, the strength of your brand impacts your bottom line in numerous ways.
Your Brand Creates Instant Impressions and Reactions
Although we talk about them in business contexts, brands are really emotional impressions. Some businesses and organizations have very strong and defined brands, while others don’t.
If you doubt this, just ask yourself how you feel about your favorite car company, sports team, or restaurant. Then, think about a company that treated you badly, or a political group you despise. In each case, the mere thought of their branding probably elicits some kind of deep reaction within you.
While your company’s brand might not be at either of those extremes, it’s easy to understand why you want customers thinking about your business in a way that’s positive instead of off-putting.
Once Your Brand is Established It’s Hard to Change
Some branding skeptics will tell you that business identities are vague and ever-changing, but we would disagree.
Some brands have always been thought of as offering great prices, premium products, or high-quality customer service. The reputations they have built can help them withstand the occasional underwhelming experience or bad review. On the other hand, certain brands have become known for being the cheapest, most unreliable, or lowest quality. It’s almost impossible to shed those kinds of labels once they’ve been established.
The big takeaway here is that you need to do whatever you can to establish your branding on your own terms. Otherwise, you could end up in a situation where the way people think about you is not only locked in, but holding you back from higher levels of success and profitability.
Build Your Brand the Right Way
Given that your brand is so crucial to your company’s success, it isn’t something you want to leave to chance. If you’re interested in building the kind of brand that makes your business a top choice for customers, then talk with the experts at Biondo Creative to see how we can help. Initial consultations are always free and you might get some insights that transform your bottom line for years to come!