Why Investing in your Branding is worth your Money

By admin | Entrepreneurs

Aug 23

One of the best assets your business or company has is your brand.

Your brand is what consumers and even your employees first see when they look at your entire organization.

It is the representation of who you are, especially for your potential clients.

When you hold the power to control the way you want people to see your brand, you hold the power to change the way they perceive you and your company.

By being consistent with your branding, you encourage people to trust you and create a stronger bond with your company.

This only means one thing – your branding is one of the worthiest investments you can make in your business.

This is especially true when you are currently at a time where you feel like your company needs growth. If you do poorly with your branding, you will appear as someone who is not professional enough.

This, in turn, leads to less and fewer prospects and clients.

Obviously, this is not the way to go, so here is some guidance to lead you when looking for ideas how to improve your brand’s image.

1. Your brand is more than just a logo

One of the common misconception of those who are just starting out as an entrepreneur is that brand and logo are just the same. But, they are actually not.

Your logo is the symbol and is considered as one of the visual assets of your business but it does not contain your entire brand.

Branding is all about how you embody the vision and mission of your company. It is the complete representation of everything about your organization.

When done right, people will recognize you as a company, and you will be able to stand out from the crowd easily. Your products or services need to be one of a kind.

One of the most valuable parts of your company is your story. When you tell your story right, what differentiates you from the competition, you will have more people interested in what you have to offer.

When telling a story, always pay attention that you think about the goals and where your company is headed. You want to show that to your potential clients. This will make your branding timeless.

Whether big or small scale business, the way to effective branding starts with effective communication. Your communication should be very concise, clear, and more importantly, consistent.

Aside from this, another important factor you should be looking at is the positive experience you give to your customers.

For example, when you think about Starbucks, what comes into your mind? I bet you’d think about more than just the coffee. It is more of the inviting and warm feeling they give through their products and services which their brand has been able to communicate clearly and consistently.

Now everybody wants to take part in the experience.

2. Your brand has the power to attract new customers

Your ultimate goal is attracting new customers and keeping the ones that have been loyal to you over the last years.

It takes a lot of time, effort and resources to make this possible.

Let’s focus on three things:

  • Brand identity (your logo)
  • Content you’re putting out there
  • Customer service
Your logo should be simple and timeless. It should reflect the essence of your company and it should be impactful. It should stand out from the crowd.

When it comes to content marketing, whether you use online tools like videos or blogs, or other products, just make sure that they are relevant to your recipient, brand, and your company, or you might just be wasting your money.

The tone of voice in these materials should be aligned to your company’s voice. Content that you produce should reflect your expertise and most importantly, it should help your customers solve their problems.

If your customer service does not respond timely or doesn’t help your customers in their buyer’s journey, you will never get your business up and running. Make sure to invest some money in training your customer service to respond in align to your brand’s tone of voice.

All these will help establish your brand as a source of trustworthy information and solutions.

Remember, be consistent and excellent in these three things and you will see customers keep on coming in.

3. Your brand helps you play with the price

People nowadays are very selective when buying products. They do not simply just buy, they want to feel like they know the brand from which they are buying. They want to be a part of your story when buying your product and service.

In fact, the price is not always a significant factor, because once they’ve fallen in love with your brand, they will be more likely to buy from you no matter the price.

In marketing, this is what you call brand equity. Brand equity is basically the value of your brand name as a company. If your customers are willing to pay more, no matter the cost, just to get your product because they don’t want to settle for a generic product, that means that you have brand equity. And when you have it, you can easily play with the prices of your products because your loyal customers will continue to buy from you.

4. Your brand makes closing sales easy

Well-established brands are definitely much easier to sell because they have already been known as superior compared to their competitors.

Even before the sales talk, there is already a good chance for your product to be purchased. Your sales team will not even have a hard time with the initial conversation, even with the closing of the sale because it will just happen with ease.

You are a consumer yourself, and if you also love brands, then you would understand. Being able to establish your brand will mean that people can easily recognize you on a personal level.

Psychology has explained that when people choose well-established brands, they feel like they become the better versions of themselves.

One concrete example is Nike. More than the quality of the product, people have continually patronized this brand because of who they are. But, even if they are already popular, these brands continuously put in efforts in investing into their branding. Remember the Nike “unlimited” campaign back in 2016? It went beyond the “Just Do It” usual campaign when the actor Bobby Cannavale was in a nursery and giving a pep talk to the babies who eventually grew up to be the world’s superstars.

It was a very powerful ad that highlights how athletes push themselves to the limits. It only goes to show how the company is consistent and clear with the message that they are trying to get across to their consumers.

5. Your brand increases the value of your company

Having a well-defined brand is not only important in increasing the price of your products and services. But, it will increase the value of your company as a whole.

Of course, it is not easy to boost your company’s brand, but you can start with leveraging on how you build emotional connections with your consumers. They want to be connected to the company who seems to share the same values that they do.

You must also strengthen your branding from within. It means that your own employees should have the complete understanding of your brand values. Your employees themselves must be able to experience and must feel that same kind of love for your own company.

6. Your brand will help you reduce expenses on marketing

When you have an established brand, your marketing costs drop.

You still need to make an effort to keep up with your customer’s needs and deliver on their expectations. But you will have the time and resources to focus on the areas that need to be more defined and targeted as far as your marketing initiatives are concerned.

In fact, these efforts and initiatives will just be more effective and efficient because your brand is already defined and articulated among your consumers, and potential consumers.

A great example is a makeup company Lush. They have been able to differentiate themselves from the competition and become a well-established and well-known company.

While there are other very popular makeup brands in the market, Lush has managed to thrive and already has an international reach even if it is not as luxurious as other brands.

It also did not have to spend so much when it comes to marketing, as they only had to make it sincere and simple. At the end of the day, they managed to get their customers coming because they have been known as a company that does not just simply sell an image but a viewpoint on their own definition of beauty. Their products are all natural and homemade and are therefore a lot more inexpensive.

They appealed to every girl by knowing and understanding their needs and knowing that they share the same values, which is giving more importance to social and corporate responsibility, than the luxurious, out of reach brands.

All in all, investing in your brand will only make your company more attractive and trustworthy to your potential clients. Make sure you get your brand’s story heard.
Share this!

About the Author

Leave a Comment:

Leave a Comment: