Here are 6 reasons why branding is important for your small business.
Branding Creates Trust
When a company presents themselves in a professional way, and when there is social proof that their products and service are quality, prospects will trust that company and feel more comfortable giving it their hard-earned money.
Branding Improves Recognition
While your logo should not be the be-all-end-all of your branding efforts, you should still put the time and effort into coming up with a professionally-designed, memorable logo. Not only should your logo be memorable, it should give the desired impression of your company so when people see it, they instantly think and feel what you want them to think and feel.
For the survival, success, and growth of your company you must rise above the competition. It is crucial. Seems like everyone competes for resources, funding, talent, and audience. Your brand has to inspire, then fuse together with your marketing strategy. How will you rise above everyone else? Your branding serves to promote strategic areas and initiatives with the goal of moving forward, therefore creating your competitive advantage.
Provides Economic Value
Ok, so you may not expect your small business to bound on the scene, publicly traded from the get go. If you are opening as part of a franchise, you may, however, but in most cases, you will be unknown. Strong branding is a solid asset investment and makes your company an economically valuable. If and when you seek to borrow funds for expansion, the perception of value is critical for approval. The greater your devotion to branding the better your ROI.
There is an unspoken promise that companies offer with their products and services. Consequently, the best branding explains this in a clear and concise way. Your customers, employees, suppliers all rely on what you say you will offer. Many times there could even be legal ramifications if your branding speaks one thing and you deliver another. Make sure you can make good on expectations.
While branding is more than a logo, your logo is arguably the most important part of your brand. Consider hugely successful businesses: McDonald’s, Nike, UnderArmour, Coco-Cola. All have a distinct brand recognizable worldwide. In addition, for improved recognition, your logo must appear on every piece of marketing material. From vehicles to uniforms, to print and digital ads. It is simple, yet memorable, however, powerful enough to stand as the representation of who you are as a business.
Ready for free weekly resources to get more out of your business. Sign up here to receive value free resources on scaling your business.