What is branding and why it is used by businesses?

stand out colorful rubber duck - colorful branding image

We know how important your brand is at Blend as we specialise in helping businesses to plan and create world-class brand strategies. In this post we focus on reasons why getting your branding right is critical for any size of business. The Importance of Branding for Businesses Branding is the process of creating a positive […]

We know how important your brand is at Blend as we specialise in helping businesses to plan and create world-class brand strategies. In this post we focus on reasons why getting your branding right is critical for any size of business.

The Importance of Branding for Businesses

Branding is the process of creating a positive perception of a business in the minds of customers, partners and suppliers, by combining elements such as a company name, slogan, design elements and a consistent theme in all marketing activity. Your brand aims to differentiate you from competitors, promote confidence in your business and build customer loyalty.

Before deciding on your brand strategy, it is important to spend ample time understanding the importance of branding and how to develop it for your marketplace.

Here are five reasons why building a strong and cohesive brand is of vital importance.

  1. Branding Creates Recognition

Branding is not just about logos, colors or slogans – it encompasses both visual elements and brand associations like quality and reliability. Maintaining a consistent brand image helps consumers feel at ease purchasing your products or services. Additionally, since people tend to do business with companies they are familiar with, you’ll likely receive recommendations and repeat clients.

  1. Branding Is A Source of Inspiration

A strong brand is a source of inspiration for both the brand owner, employees and customers. It articulates your reason for being in business and creates clarity and focus for all audiences. Additionally, consumers are more brand conscious than ever – they take pride in what they purchase and want to know that their favourite brands have interests that extend beyond profits.

While inspiring your customers can be difficult, it can be a rewarding aspect of building your brand. Some ways to inspire your customers include engaging in community services or charitable work, sponsoring relevant events and activities or finding ways to communicate customer satisfaction.

  1. Branding Sets You Apart from the Competition

Branding is a key element in creating and maintaining competitive advantage. It not only differentiates you from your competitors, it provides unique opportunities to showcase your products or services in a professional manner.

A great way to build a competitive edge is to think about how and why you started your business. Your origin story can be part of your brand as it will help you stand out from the competition and have customers appreciating its authenticity. Consequently, you’ll find that loyal customers will become your greatest evangelists.

  1. Branding Creates Human Connections with Your Business

Brand stories, visual assets and effective PR allows companies to engage with their customers on an emotional level. Those businesses that manage to take this further and create an emotional connection with their customers become lovemarks. Lovemarks are brands that build loyalty that goes beyond reason. It is achieved through the use of mystery, sensuality, intimacy or a high quality reputation. Great examples include Cartier, Rolex, Bentley, Ferrari, Porsche, Versace and Gucci. These businesses have all created brands that have a human connection that makes people aspire to be associated with the business.

Transitioning from a trustmark to a lovemark can have a tremendous impact on your brand, as you not only create lifelong customers but they also spread the word about your product or service, driving continuous sales for your business.

  1. Branding Builds Customer Loyalty

Customers who have a good experience with your product will remember your brand and learn to trust it. Consequently, the next time they need a similar product or service, they will look to you. Loyal customers are also likely to tell their friends and family about your product or service by promoting your business as brand ambassadors.

Blend can help you to build and maintain a world-class brand. It’s an investment that we know has a high ROI as your business grows. Get in touch with us if you would like to find out more.