Why Is Branding Important For Your Business?

What is branding?

Let’s start with what we mean by branding. This is everything from your logo to the colours you use and your mission statement, this is what makes your business unique and identifiable. Put more simply, branding is ‘the promotion of a particular product or company by means of advertising and distinctive design. Branding is not simply ‘a logo’ but all of the elements which make up the whole package allowing consumers to understand what you do, the values of your business, and how it relates to them.

New customers

When your branding relates to your audience and captivates them this will encourage them to invest in your business. Whether it’s a product or service you’re selling, having a polished professional brand allows buyers to understand your business better and how it relates to them. You will also engage new customers by the consistency of your brand, displaying your logo, brand colours, typography and even imagery across all of your advertising and marketing, will allow your audience to have confidence in your brand and recognise you brand more readily.

Increases value

Never underestimate the power of a good brand. A well thought out brand can help you add value to your business in many ways, the first being that it can make your business more credible. Credibility is hard to accomplish if you’re just starting out, however with a fully cohesive and professional brand it can help consumers trust your business. The second way that good branding can help increase value is that it can become the differentiator between your business and a competitor. A powerful brand can encourage buyers to invest in your product and can even make it more covetable even if it is essentially the same. This is because branding goes beyond what you’re selling and looks more deeply at what the business represents as a whole, something which is increasingly important to modern day consumers.

Inspires employees

It has never been more important to represent good values and ethics in your business particularly for those that are working for it, as employees are increasingly looking to their work-life to feel empowered and represented. A Harvard Business Journal study noted that 89 percent of executives believed purpose drives employee satisfaction, conveying how strengthening your brand and conveying a strong identity, rooted in more than just a logo, will allow employees to have a stronger connection with their employer, and will motivate and guide them in the work they do.

Companies looking to encourage and inspire their employees should take these steps:

• Ask what good does your business give back and why does it matter that your brand exists.
• Decide what you actually care about. What are your values and what is your overarching mission?
• Ask your employees for their perspectives on the company’s purpose.

What next?

The most successful brands have ‘an intention, a vision, and are crafted and finessed, so make sure you can strongly communicate your company’s vision both verbally and visually to begin defining your brand. Many businesses use marketing agencies, freelancers, or a consultant to help realise their brand identity, often using an external source helps to clarify what makes your business unique, helping you to distinguish your USP, brand personality, and target audience.

If you’d like help with branding or design work, then please get in touch!