A unique and great business idea is not necessarily enough for business success unless you know how to present it with proper branding in the market. Famous worldwide companies are not just famous because they manufacture quality and standard products but also for their effective branding of their businesses and products.
Before discussing its importance and benefits, let’s first understand what branding is and why branding is important for a business.A brand is an identity of the company that clarifies what is the business and what’s its mission.In simple words it is an identity of a business consisting of its name logo, values, tagline, etc.
Branding is the process of creating an identity of the company.In this process we research,develop and apply distinctive features to our business. In common language it is a process in which we create a brand by creating a business name, logo, voice, and identity.
IMPORTANCE OF BRANDING
In this era of business branding is very important to grow and to get a strong position in market.Branding is the key to create an strong image of your business in customer’s mind.Gerald Zaltman is a Harvard professor who has written the book “How Customers Think: Essential Insights into the Mind of the Market.” In it, he claims that 95% of customer purchasing decisions are subconscious. which means 95% of the customers’ decisions will be driven by those factors that are mainly created by your branding and how the customers feel about your company, only 5% of other factors (price, etc.) will affect the purchase decision of customers.
BENEFITS
There might be some questions in your mind that what are the benefits of branding? Does it really matter? How can it benefit my sales? And it will add value in my business? Well these are important questions and in this section, you will get all of your answers
1. Purchase Decision
As i discussed above that according to professor of harvard university, 95% consumer’s purchase decision get affected by those factors which are created by brands.If you are branding your business in a right way for sure it will affect your sales volume and purchase decision of consumer.
Just think for a while if you have to purchase a mobile phone and you have two options, one is from Samsung and second one is from a less known company, which one will you purchase?Despite price differences and other factors you will purchase samsung.
2. Creates Business Identity
Branding creates a strong business identity. There are many stationary companies but you don’t even know the business name of these companies but when I say dollar stationary you can easily recognize it. This is because dollar stationary has built a strong brand through the process of branding.
Having a strong business identity connects you with your customers because they find something which they can relate to themselves.It might be your product,your brand story,your personality,or can be your vision.
3. Helps Customers to Remember Your business
We know that in branding we create business names, logos ,trademarks etc.It helps your customers to remember your business. Somepeople remember brands by its name while some remember by its trademark/logo.
4. Boost advertisement and marketing
Branding plays a vital role in the success of advertising and marketing. A product with proper branding will definitely attract the consumer even if he doesn’t see that on TV. Branding improves sales and reduces marketing efforts.
A product or business without branding is very difficult to market and get successful advertisement results.
5. Competitive Advantage
In the business world, the importance of competitive advantage can’t be ignored. A case study featured in a magazine about the impact of branding on competitive advantage of business shows that branding has an unbeatable impact on competitive advantage of a business.
Branding gives a competitive advantage to your business but it is important to brand your business in the right way.
6. Consumer’s psyche
When I say “Branding”, it’s all about your customers. Branding is not something that I will do according to my tastes and choices. Keep in mind that each step of branding is all about what your customer wants.
Branding targets the customer’s psyche, Name, logo, colour, packaging, and product message, everything influences the targeting audience directly or indirectly. While a business without branding cannot target and affect the psyche of its customers.
HOW TO BRAND YOUR BUSINESS BY CHANNELS
1. Website
The first channel is the website of your business. before covid-19 most businesses were offline but after covid, all the dimensions of business have changed. Now, everyone has understood that it is important to have an online presence for a business.
Now 50% of revenue is generated by online channels in which the website has a major portion. It is important to make your business presence on the website because it is crucial in long term. ensure that your website is presenting a true picture of your business.
Splash your company profile, logo mission & vision statement and your services with your brand theme on your website. so that people who are shopping online can trust your business.
2. Social Media Presence
The most powerful channel to create brand awareness for your business is social media. Social media can boost your business exponentially. Create your business presence on major social media platforms(i.e.: Facebook, Instagram, WhatsApp, Linkedin, youtube, etc).
Make sure that all graphics, colours and fonts are aligned with your brand theme and brand voice.
3. Packaging
If your business is of physical products then you can create brand awareness through packaging of your products.It will serve as a great ambassador for your brand. The packaging should accurately represent your brand’s voice and concept in order to give customers a genuine feel of your brand.
4. Advertising
Advertisements can also boost brand awareness of your business whether it is digital or print. A business with proper branding is much easier to advertise and capture its targeted market.
5. Sales And Customer service
Business is all about people, those people include your customers,your employees and yourself.It is important that your team is really representing your brand in work.Every employee should truly represent your brand. Inform all sales and especially customer service representatives to use your brand taglines while communicating with customers.
Conclusion
Brand awareness itself is a difficult task but with proper strategy and by using the right channels you can create amazing brand awareness for your business. Now in this technological era, it is not that much difficult.
We aim to provide you with exceptional branding and marketing services. So, If you are looking for fantastic branding services for your business contact us at contact@wervivid.com for assistance. Thank you for considering us. We will love to work with you.
