Why Branding Matters in Business
Be Bold. Stand Out.
Whether you’re a newbie or a veteran to the business world, or you are simply wishing to reinvent yourself, your product or your service, branding should be high on your list as an investment in your future success.
So what exactly does "branding" mean? Entrepreneur.com puts it very simply…
“your brand is your promise to your customer. It tells them what they can expect from your products and services, and it differentiates your offering from that of your competitors. Your brand is derived from who you are, who you want to be and who people perceive you to be.”
In essence, branding represents the consumer’s perception of a brand’s customer service, their reputation, including advertising and bingo, you guessed it, their logo. When all of these parts work seamlessly together, you have the makings of a well oiled machine.
Did you know, according to a Harvard study of communication that it only takes seven seconds to make a first impression? That’s right, 7 seconds! Now think of how much media we are bombarded with on a daily basis, whether it be on your commute to work, scrolling through social media, even a trip to the cinema, there is no escape.
The mind boggles, how on earth are we meant to stand out, connect and do business with so much competition? The world of business has evolved and now consumers have certain expectations when it comes to choosing to transact with your business.
Think of your brand as a first touchpoint with a potential client or customer. They might be searching on Google, walking through a shopping centre or driving down the street (hello digital or old school billboard!). What do they see first? Your logo, your shopfront, your sign, a cool image of your product or business.
After 11 years in business, trust me when I say that branding matters in business, and these are my top 3 reasons why…
It’s the FACE of your business - do you want your brand/business to be instantly recognised? And memorable? Well, these are just two of the benefits of having solid and consistent branding. Remember the 7 second rule!
Know, like, TRUST - do you want to be seen as an expert in your industry or niche? The ability to create a brand that connects, one that is liked but more importantly trusted, is crucial. People do business with brands that they know, like and trust.
Add VALUE to your business - it is important to think long term, if you eventually sell your business, your branding becomes part of the IP (intellectual property).
Think of branding as an investment in the future success of your business.