Many people think branding is just a logo. This is far from the truth and if you don't understand what branding is, you could be doing a serious amount of damage to you, your product/service and the ability to gain trust from your consumers.
Branding is important for a number of reasons:
- Branding is a means to communicate to your clients and prospects. With the right messaging and consistency you can easily communicate your brands characteristics and values. Once you have a strong brand in your marketplace you can concentrate on selling your products and services and less on explaining who you are each time.
- Branding helps distinguish your from your competitors. It's unlikely you have a unique product and/or service so the key to set you apart is your brand promise. If you think of the Golden Arches, they sell burgers and so does the corner store, but what makes you go to McDonalds? The promise of fast turnaround, known taste and customer service expectation is delivered upon each time you visit.
- Branding helps with establishing your reputation. Branding helps people associate with a product or service and if used correctly, it can make people feel good. Take Meadow Lea for instance, they lifted their market share by 15% in the 90's by just patting mums on the back with "You ought to be congratulated". This one line made mums feel they were 'good mums' and they were looking after their family if Meadow Lea was on the dining table.
- Brands promote customer loyalty. When a consumer has had a great experience with you, it is likely they will remember you for your brand, not necessarily the product. The next time they have a need for a product or service you provide, they will look for your brand and tell others of their experience.
- Brands make introducing a new product/service easier. Once consumers believe in your brand it is easier to introduce a new line of products or even change your direction without them questioning. Think of Dove, they started out selling just soap. They now own a good size of the market for deodorant, body wash and lotions.
- Your brand can insulate you. Just imagine you were the manufacturer of milk and your product sat on a shelf with 10 others and none of you had branding. Then one of those 10 milk products were contaminated and suffered a recall. Do you think anyone would touch your milk?? It's unlikely. Without branding, your product will always be lumped together with your competitors and if something happens to them, you too will feel the heat.
- A strong brand can help you win consumers' purchasing decisions. A brand allows you to differentiate your product/service in terms of its benefits and features. Once a consumer connects with a brand they then have certain expectations, this turns their buying habits into emotional ones. If you deliver on your brand promise a consumer will choose your brand over others because they wont take the risk of being disappointed.
- Branding helps product recall. Branding helps your target market recall you when they are in need of your product or service. You can throw as much money at advertising as you like but once it's over and that consumer walks into a supermarket, they may know it's soap they're looking for but without the brand they can easily be confused or simply forget and pick up the wrong one. You want them to think 'your soap' not 'that soap'.
So I ask you, what are you doing to ensure your brand is working? Is your branding consistent across all media; magazine, newspaper, radio, flyers, letterhead, business cards, email signature, website?
If it's not, you are doing yourself a huge injustice. Can you risk moving forward with your brand not being right? Contact us today to make a start!
