Branding is one of the single most important yet overlooked aspects of a business that could ultimately lead to its success. It’s all about the colours, the shapes, those little symbols, and all the tiny details that make your business stand out. Think about it – your business is essentially your brand!
So, here’s a fun story: I went to a trivia night where we had to identify different brands displayed on paper. We had less than 5 minutes and just one pen to label each brand against its logo. It was an absolute blast!
The guesses flying around the table were downright hilarious. And guess what? Our team managed to get 23 out of 30 correct guesses! Not too shabby, right?
Now, I’m feeling a bit nostalgic, so I want to challenge all of you today.
We’re not going to repeat the same test from my trivia night – this one’s going to be way easier, promise! So, take a look at the picture below and let’s see how many of these brands you can name.
Ready, set, go!
Lesson to Be Learnt
That particular question on trivia night gave me a new goal to chase after – In a few years to come, I want Mastermind9 to be identified just by its colours – the beautiful dark blue and bright orange hue.
If you’re in business, your goal should be to be very easily identifiable. Because with the right branding, customers will be drawn towards you and you will make a lasting impression, easily!
Here are 5 reasons why you need to get your branding right:
- Creates Customer Loyalty
- Builds Trust
- Differentiates You from Competitors
- Increases your Financial Value
- Improves your Advertising
Now, let’s dive into each of these points:
5 Reasons You Need To Get Your Business Brand Right
1. Creates Customer Loyalty
Is there a brand you use particularly because it’s what you saw being used when you were growing up?
A lot of times, we tend to ‘inherit’ our parents’ and guardians’ favourite brands. The obvious reason for this is that we saw the brand over and over again until it became imprinted in our minds.
It eventually becomes hard, nearly impossible to convince ourselves that this brand isn’t the best one.
Through branding, you can appeal to people’s emotions and make them feel more connected to your company. This eventually turns them into loyal customers.
Branding creates customer loyalty. It will make people choose you without thinking twice. In fact, loyal customers can become your company’s best advocates as they share their experiences with your company and your brand with their wider social circle.
2. Builds Trust
Just by getting your business brand right, you can build trust among your clients.
I’m sure you’ve all, at one point or the other, pointed out poor elements of a brand. It could be that the colours were off or that the font was not legible. Just by picking these things out, you immediately formed conclusions about the company.
In the same way, if we craft an authentic brand, we can build trust with the clients. By consistently delivering high-quality products or services, customers will be confident that they are getting value for their money.
Providing reliable products, maintaining a consistent message across all channels, and ensuring consistent quality of customer experience ultimately makes your customers and potential customers confident in their purchases, hence building trust between you and them.
3. Differentiates You From Your Competitors
There are brands, especially food brands, that could easily be confused if not for the brand.
For example, if someone were to blindfold you and serve you different brands of beer, how easy would it be to pick out the difference?
Or if you were blindfolded and asked to differentiate between Pepsi and Coke, how easy would this be for you?
Good branding sets you apart from your competitors such that even from a kilometre apart, your loyal customers will identify you. It communicates your unique value proposition which makes you better than the alternatives in the market.
This could be based on factors like quality, innovation, customer service, or even sustainability.
4. Increases your Financial Value
If you were to look at big stock exchanges worldwide, you would find that there are companies that are valued at billions and trillions of dollars.
In most instances, this value isn’t placed on the assets the company owns. It’s much, much higher than that.
The explanation for this is the value of the company’s brand. Highly valued brands are worth a lot more than just their assets. They are valued over and beyond tangible assets. This phenomenon is called ‘brand mark-up phenomenon.’
So, if you want to increase the financial value of your company, build a strong, sustainable brand that is clearly identifiable and valued by the world.
5. Improves your Advertising
Branding and advertising go hand in hand. You can’t get your advertising right without first having a proper brand in place.
Getting your business brand right makes your advertising ten times easier than it was before.
It allows you to speak cohesively across all the platforms. Remember, branding is more than just the colours and shapes. It’s also about the voice, the tone, and the language.
Incorporating branding into your advertising will help increase recognition of your brand when it’s all tied together.
That’s why people are able to pick out your brand among hundreds of others.
Our Summary – Getting Your Business Branding Right
The main aim of branding is to make sure that when people see your logo among others, they can easily pick it out. Your logo should be so special and recognizable that it stands out from the crowd.
And more importantly, when people see your brand, they associate it with positive emotions and feelings.
When it comes to branding, you have to pay attention to the tiny little details. It’s about creating a story that connects your brand to its values. By using the right colours, shapes, and symbols, your logo becomes more than just a picture – it becomes a powerful symbol of your brand’s personality and values.
Remember, building a brand is more than just the logo. It’s about your customers’ experience from the moment they lay eyes on it through to every interaction after that.
In conclusion, here are 5 reasons why you need to get your business branding right:
- Creates Customer Loyalty
- Builds Trust
- Differentiates You From Your Competition
- Increases your Financial Value
- Improves your Advertising
If you would like to chat through your business brand or anything else business-related, get in touch! We can help you to dot your i’s and cross your t’s on all things business!
