Thanks to the rise of the internet, the amount of choice and ease of access that people have to a range of products and services is greater than ever. Now businesses must work to build a brand that makes their company stand out in a saturated market if they want to attract new customers and keep their existing ones coming back time and time again.
Your brand is a portrayal of what you want prospective customers to think about your business, so investing in brand management could be the difference between your company succeeding or failing.
Branding helps drive and motivate your staff
It takes a huge amount of time and effort for a business to become a success, and everyone needs to be pulling in the same direction to make this happen.
Having a brand strategy helps to outline what you want your business to achieve, how goals are going to be met and the sort of experiences you want to give to your customers. If your staff buy into this vision, then it gives them goals to aim towards and the motivation and drive to help put across the brand of your business in everything they do.
A well-managed brand creates trust between you and your customers
Your brand acts as your promise to your customers. Here at Paperclick, we are a company that is dedicated to putting the power back into the hands of our customers – this is our brand, our promise to you.
According to a recent study, 54% of people do not trust brands because the experiences they encountered did not match the values the businesses were trying to get across, this is why it is important everyone in your company is working towards the same goal.
If you provide your customers with good experiences, every time they see your logo or new products they will be more likely to come back to you if you delivered on your promises as that element of trust has been achieved.
Branding helps make your business memorable
Logos are just the tip of the iceberg when it comes to branding, but it is a seriously powerful tool to get your business out in the public domain.
Every time we see McDonald’s ‘Golden Arches’ or Apple’s logo, we instantly know what company they represent and the type of experience we will get when we buy their products, but this practice is not just reserved for multi-national companies.
Having your company logo on your website, social media channels, letterheads and uniforms increases your company’s exposure in a visual way and, over time, customers will make connections to your logo through certain experiences they had through your company.
This could be the difference between losing customers or keeping them on board, which is why it is so important to give them a fantastic experience every single time.
Great branding can give your business a financial boost
If you are a small business, spending money on building your brand may not seem like a priority but it will benefit your company long-term.
Customers are drawn to brands they know and trust; that is why they are willing to spend more on a product if they attach a level of quality and prestige to it.
This added sense of value keeps the customers coming back and spending money on products. Sixty percent of customers pay more for a better experience – even in a struggling economy – even though they could have bought the same product from a less reputable company at a lower price.