Why bother with branding?
Branding
Key takeaways
- Branding builds loyalty, which means you don’t have to compete on price all the time.
- Branding helps you build a stronger relationship with your target audience and ensures that they know exactly who they’re dealing with.
You’ve got a logo, you’ve got a one-page website up and you’re busy. So, why on earth would you take precious time out of your day to review your branding? You’re already making a profit so why does branding matter?
A business owner’s life is busy, really busy. And that’s just when things are going smoothly. Surprise staffing issues, repairs you weren’t expecting and supply issues, to name a few things, can impact one’s capacity to think about such conceptual issues as “branding”. Besides, there’s no real return on investment, so there’s no point in bothering too much, right?
Wrong.
If your vision is for a business that grows, then you need to think about branding. There are five main reasons why we think you need to bother with branding. And they are laid out helpfully for you below.
But before we delve into our argument, we need to make sure that we are all on the same page with our definitions. To begin with, what is and isn’t a brand?
What branding isn’t
Very often when we hear conversations about branding, it centres around the visual aspect of a business’s brand. But let’s be very clear, whilst the visual aspect of a company’s brand is important, it is only one piece of the picture, and it also comes last when building a company brand.
When we run our branding workshops the focus is on the strategy behind the brand: why the business operates the way that it does, the what, and the how. These are the foundations on which the brand identity is built.
What is a “brand”?
Simply put, a brand is the personality of your business, it is the way people perceive you as a business. It runs through everything from customer service to delivery, every time someone has a deal with your business they are coming into contact with your brand and leaves an impression. Are you starting to see the importance of a well thought out brand strategy yet? Your brand is the why you do what you do, how you do what you do and what you are doing to be better. Forming your brand strategy is the basis on which your brand identity can exist and is seen most clearly when a user looks at your website, sees your logo, photographs, and images and reads your content. It even affects business decisions as you align the company with your brand values and ethos.
Why does branding matter?
Now that we are clear on what a brand is, why should a busy business owner care about ensuring that their brand is consistent and developed well?
1. Builds loyalty
You want to attract new clients, but you also want repeat business from existing clients. If clients trust your brand because their experience using you has matched the promises that you made in your marketing activities, you will get repeat business. If you promise one thing but do not deliver, then they will walk away. If clients like the brand, and they like the service, they will stick around.
2. No “race to the bottom”
Repeat business gives you a little more control over the prices that you charge. If lots of clients are staying loyal, you will not have to constantly aim to undercut your competitors whenever you are onboarding a new client. You can charge more based on the value that your brand can add, rather than desperately seeking to give the lowest quote possible in order to win the contract.
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3. Better connection
A strong brand that builds a personality and clearly communicates the values and ethos you have will help you connect more securely with your target market. People are emotional, relational beings and we want to connect in that way with the brands that we use. We want brands that resonate with us, that add to our lifestyle choice as well as fulfil our practical needs. Clear communication about who you are and what you stand for will help your target audience build a relationship with your brand.
4. Avoids confusion
Having a very clear brand identity that shows consistency in terms of logo, website, print and social media means that there is no room for confusion. If a client who already has a relationship with your brand tries to find you in a different location, consistent branding will make it easier for them to find you and reuse you. You do not want hard-won clients accidentally using a company that shares a similar name and switching allegiances!
5. More growth
If you are a business owner, then you want to make a profit. Brands that are consistent, well developed and well thought out help businesses make more money. This is because, if your brand is trusted by clients, they will gravitate towards you when they are unsure about what decision to make.
Good branding builds a more profitable business
Ultimately, all of these reasons add up to one very significant truth: companies that are well branded do much better than those that are not. If your aim is to grow and scale, strong brand identity will be essential.