Why is branding so important for a business?
Updated: Apr 12
Branding is important because not only is it what makes a memorable impression on consumers but it allows your customers and clients to know what to expect from your company. There are many areas that are used to develop a brand including advertising, customer service, promotional merchandise, reputation and logo.
Many small businesses make the mistake of overlooking branding efforts because they think of themselves as a business and not a brand. Brands, they think, are the big fish in the pond with huge budgets and national recognition. Resigned to their supposed small-fish status, small businesses do little more than come up with a fun logo and some flashy business cards. But branding is important for businesses of all sizes because it increases their value, gives employees direction and motivation, and makes acquiring new customers easier.
How to Build a Brand
- Determine your brand's target audience.
- Establish a brand mission statement.
- Research brands within your industry niche.
- Outline the key qualities and benefits your brand offers.
- Create a brand logo and tagline.
- Form your brand voice.
- Build a brand message and elevator pitch.
A strong brand name and logo/image helps to keep your company in the mind of your potential customers. If a customer's happy with your products or services, a solid brand identity helps to build customer loyalty across your business. People like to be associated with “good” brands.
No matter what size they are, the most successful businesses are the ones that have established themselves as a leader in their industry by creating a strong brand. And, when these businesses focus on building valuable customer experiences, they easily transform customers into brand ambassadors.