The importance of branding to the success of any business cannot be overemphasized. It is as
important as any other area of the business. To successfully define branding we will, first of all,
explain what a brand is. A brand is a product, service, or concept that is generally distinguished
from other products, services, or concepts so that it can be easily identified, communicated, and usually marketed.
Branding, therefore, is the process of creating and disseminating the brand name, its qualities, and personality to the public either via video, image, logo, or naming.
A brand should portray what a company does and what sets it apart from competitors and rivals.
The brand is that which helps you to identify a product and distinguish it from other products and services.
This is to say that the brand of your business distinguishes you from other businesses which offer the
same services as you.
Branding sensitizes your clients or customers on the things to expect from your company or business,
thereby helping you to build a loyal, returning, money-at-hand, ready-to-buy customer base.
Good branding or rebranding if you have an existing branding that is not producing needed results
will represent your organization in many different ways and it will communicate some important
messages in the mind of your target audience which include the creation of a strong, credible
perception of your company, your products, services, and projects.
How To Achieve Branding Goals
Branding can be achieved through the combination of different elements; the obvious ones are
logo design, ads and marketing design materials, mission statement, goal, and a consistent theme
and color throughout all marketing communications.
A lot of people and businesses have not seen the importance of branding their products and services,
in fact, something as small as logo design can do a lot of good or otherwise to your business if it is not
done with needed attention. This is why, in this piece, we would be sharing with you, basic reasons
why branding is important to your business.
Importance of Branding to your Business.
1. Branding Enables Your Business To Stand Out From The Crowds:
Branding is one of the major tools that help your business to stand out from other competition around you.
It establishes in the mind of your customers the ways you are different from your competitors and
why they should choose your product, program, or services over your competitors.
2. Branding Helps In Building Business Recognition:
Having a compelling logo, a website with a good user experience and user interface(UI/UX), and social
media platforms and other brand assets help you to create a distinct voice and style for your business
which will increase your brand recognition in the market.
3. Branding Creates Dynamic Customer Experience:
Strong branding with constructive authority in it will help you to create a consistent brand experience
for your customers whenever they get to interact with your brand. Be it through social media,
website/blog articles, advert, or at an in-person event.
For business growth and development, you have to assure your customers have a consistent
experience anytime they interact with your brand. Most especially in theme and color.
We have associated some colours with some brands and whenever we see these colors their
names always come to mind. For example, we have yellow for MTN, green for GLO, orange for GTBank, etc.
4. Branding Helps To Increase The Worth And Value Of Your Business:
A strong and established brand will help your organization generate new business with ease
and also open the door for easy diversification. Going back to our MTN Nigeria example,
recent due to the large acceptance of the mobile money business, MTN easily move with the flow
and created Momo agents mobile money business because of their good branding,
they are able to ease into the market and leapfrog those they meet on the scene because of
their existing good branding. This goes to say that if you have a credible brand, you automatically
have more leverage in your industry, niche, and the subsequent niche you want to go into in the future.
5. Branding Increases Loyal Customers Base:
This is one of the benefits that come with branding your business. It attracts more people to your
business by establishing a first-hand emotional connection with your audience who, in a bid to
know more, gets to use your products and services more. Good branding can also convert some
of your customers to brand ambassadors even without you knowing.
6. Branding Helps Employee Sense Of Fulfillment and Working Experience:
As a matter of fact, Working for a company that has a strong brand name adds more satisfaction to an employee than if it’s the other way around, it gives them bragging power and other benefits among their friends. Just having the privilege of being within the space of a strongly branded organization will further
boost their motivation to work.
7. Branding Helps Your Business To Earn Trust And Visibility Within Your Niche And Ecosystem:
Additionally, branding is a tool that will help your organization to have a professional appearance in the marketplace,
building trust with your target audience and customers. Many people will feel inclined to do business
only with companies that already have solid brand recognition and reputation in the marketplace.
In conclusion, branding is a continuous, consistent effort and process. You will keep improving and
developing your branding strategies so as to always give your customers a new feel and experience
every time they come in contact with your business.
Finally, having known the importance of branding to your business, you should not only have a
brand but grow it into a credible and reliable standard that can bring your business to profitability
and keep it there. Selling your business to the outside world starts from your logo design to
your mission statement, company goals, and so on. This and more is what Retink can do for
you at a fraction of what is a standard market value. Get in touch with Retink today and let us help
put your business on the map and in the minds of your target audiences worldwide.