The Importance of Building Your Brand

When most people think of branding, their mind immediately jumps to a business’s logo. While the logo certainly stands as an important piece of branding, it far from covers the entire scope of the word.

A brand represents the emotion that customers feel when using your product or service. This emotion can stem from your logo but also, your customer service, reputation, advertising, or promotional merchandise — the list goes on. In fact, a brand equals the entire sum of a user’s interaction with your company.

To put it frankly, branding is essential.

And yet, many entrepreneurs push branding to the side during the developmental stage of their business, treating it as an afterthought rather than a necessity. Here’s why that’s a terrible idea:

1. Branding Promotes Recognition

In an almost literal sense, your brand stands as the face of the business. While your business’s logo represents an important portion of this face, assuming the logo alone promotes secure recognition is a mistake. Your logo, your website, the way you talk about your business, all contribute to your brand. Consistency among these facets leads to that greatly sought-after instant recognition. Consistency coupled with a strong brand message ensures a wonderful first impression.

2. Branding Increases Business Value

Consumers invest in businesses they trust. Because branding builds trust, investors prefer strongly branded companies, giving said companies greater financial leverage than their unbranded counterparts. In this case, its all about perceptions. Companies perceived as more valuable grow at faster rates, guaranteeing future business.

3. Branding Generates New Customers

Strong branding equates to a positive impression of the company amongst consumers. The consistent image of branding establishes familiarity and assumed dependability. This leads to increased customer referrals. From here, word-of-mouth becomes your best advertising technique.

4. Branding Creates Trust within the Marketplace

Again, consistency is key. Picture a major company logo. I guarantee this company’s site features the same look, feel, and colors, as do the company’s advertisements and real estate. You trust this brand because of the professionalism such consistency evokes.

Proper branding points to your company as the industry expert. Proper branding establishes consumer trust.

5. Branding Inspires Employees

A solid brand offers employees something concrete to stand behind. To think of it in simple terms, good branding accurately reflects the personality of the business. Is your business traditional? Outspoken? What does your business stand for? Branding clearly identifies the relevant personality traits and mission of your business. Clearly defining these two concepts inspires employees to work toward your business goals.