Why brand is important? This question is bothering many business owners. To answer that question we should first define what a brand is. Secondly we should know what your brand is or may be.
You can find plenty of definitions for “brand” or “branding” and of course it would be yet another thing when we consider design. Let’s take a very basic definition and try to put it in everyday practice.
The process involved in creating a unique name and image for a product in the consumers’ mind, mainly through advertising campaigns with a consistent theme. Branding aims to establish a significant and differentiated presence in the market that attracts and retains loyal customers.
Source: Business Dictionary
In a short words we could say: Brand is how your clients, leads, suppliers or even employees perceive your business. It is all about how you communicate with the world around you. It is both; How you are perceived and How you wish to be perceived. No matter which aspect we are looking at, everything comes from your actual vision and values. Hence, your brand is what your business is and how you want to communicate about it. Dependently on business specifics, there may be more emphasis on general brand image, product or service values, vision – this is very individual.
So, why brand is important?
The similar question would be why you product or service are important. Seems obvious, right? This is what your clients are paying for and this is your bread and butter, area of expertise. So what is different with your brand. In terms of importance, I would say nothing. What you offer is always a bedrock of your brand. The difference is, branding, unlike your product, can’t speak for itself. To see this difference more clear, we could break the importance of brand into the following elements:
Consistent brand image will make your business more recognisable. This will let you stand out from your competitors and make your offer memorable to your leads and clients. There is more. By creating your brand image, you are creating desired image of your business perception.
Once created and used consequently, your brand image will work for you in many ways. Loyalty is one of the benefits. People are not buying only your product or service. They are also willing to pay for a thought behind it, even if they don’t realise it. They are buying not only what you sell, but also why and how you sell it.
Quality and reliability
Your brand is your promise. Incorporating quality and reliability into your brand image, will make the purchase decision less risky to your clients. If your promise is fulfilled, it will also create referrals and let you attract new customers. Considering these advantages, you also have to remember that not delivering what you’ve promised will work exactly opposite for your brand.
With increased recognition and loyalty, your sales will increase too. Moreover, standing out from competitors and having identity should also let you increase the price. You can get even more sales from referrals and your offers reputation. Understanding this is crucial to answer the question “Why brand is important?”
Saving your time and money
Many people make the same mistake when starting to create a brand. They are trying to get it cheap. Usually the first thought is: “Where can I find a cheap logo designer?” Unfortunately, there is plenty of them, and what is even worse, they will do what you will ask for without even trying to explain you your mistake. As a result, you get this cheap, meaningless and quite often thoughtlessly copied, so called “logo”. Logo is not a brand, and you still don’t have one. You can be absolutely sure that you will have to go over it once again, unless your cheep “branding” destroys your business in no time.
We hope that makes it more clear why brand is important. If you have some more questions please don’t hesitate to contact us. Also, regardless if you are just starting or already have something build, we would like to offer you our Online Brand Audit.