Branding…..Do you really think its just a just a logo or other graphic element? No, Not at all!
Branding is actually the entire customer experience…everything from your logo, your website, your social media experiences, the way you answer the phone, to the way your customers experience your staff.
In short, your brand is the way your customer perceives you.
Why is branding important? Because people often choose products based on their perceived value rather than their actual value.
Think about Shahrukh Khan deciding to buy a new car. Two choices- Aston Martin and say, Skoda. Obviously, Skoda is the logical choice as it is a beautiful car and delivers much better mileage at a significantly cheaper price in comparison to Aston Martin which brings to mind the image of luxury and status but highly priced. Which would he or any other celebrity buy and why?
Think about it! It’s all about Right Branding how businesses can increase their product’s perceived value, establish relationships with the customers and of course, increase revenue.
Branding impacts business of all size big or small –
Let’s take a look at the important ways the right branding impacts your business, it:
- Improves Recognition- People buy products from companies they are familiar with. Consistent branding can help people feel more at ease purchasing your products or services.
- Creates Trust- People are more likely to purchase from a business that appears polished and genuine. A professional look builds credibility and trust.
- Sets you apart from the competition- Needless to tell you are no longer competing on a local stage, your business now competes in the global market. Branding helps to stand apart from the crowd.
- Inspires Employees- Having a good branding strategy will not only help to turn the company logo into a flag the rest of the company can rally around but also provides motivation and direction for your staff.
- Generates New Customers- How can someone tell about a brand he can’t remember? People wear brands, eat brands, listen to brands, and they refer it to others. Right Branding makes you memorable!
Think about the brands that you purchase from (Coke, Wrangler, Levis, Ford, Apple…..)… are these companies really worth their equipment, their products, their warehouses, or factories?
No, these companies are worth much more than their physical assets…their brand has created a value that far exceeds their physical value. Just think about it!