Every business owner thinks he or she understands the term “brand.” But branding is often misunderstood – and under-appreciated.
At its core, branding is when a company makes a good impression through symbols or design. Branding helps customers identify the product or service and lets them distinguish it from competitors.
When you’re trying to stand out from your competition and make an impression on your target audience, it’s essential to create an image that stands out. Armed with a strong brand, you get recognized. You get remembered. That means customer engagement, loyalty and growth for your business.
Your Logo Leads the Way
A logo is an essential part of a brand. When someone sees your logo, you want him or her to know what to expect from your company. It needs to be simple, relevant and memorable. Your logo is the face of your brand. It’s what people see around town or on social media. If you’ve branded yourself right, it’s what will come to mind the next time they need the product or service that you’re selling.
A strong brand tells people that you’re dependable, established and professional. If you want to be an industry leader, make sure you have a polished logo that stands out and uses design elements that are attention-grabbing and easy to understand. Don’t underestimate the impact that design choices, like color, can have. A study by Loyola University found that color alone increases brand recognition by up to 80%!
How to Build Your Brand Awareness
When and how you use your logo is also important. Branded marketing collateral, unique promotional items and a high-quality website are all tools to increase your brand awareness. Building awareness relies on two things: reach and frequency.
Reach means the number of people exposed to your brand – how widely you “cast your net.” Frequency is how many times a person is exposed to your brand message. Both are important when forming your marketing strategy. The best campaigns strike a balance between the two. Focus too much on reach, and you may be wasting money speaking to people who don’t need what you offer. Focus too much on frequency, and you could be missing out on valuable prospects.
Ultimately, promoting your brand is about reaching as many “qualified” people as possible, and repeating your brand message until they take the action you want. The more people who not only see, but become familiar with your brand, the higher the chances that they’ll do business with you.
Cultivating Loyalty Through Branding
Another reason why creating a strong brand is so important for your business is that it increases loyalty and satisfaction among your employees. When employees feel that they’re part of a well-known and established company, they tend to be happier and more productive. For example, having high-quality employee uniforms with your logo, or giving brand awards to top performers, shows employees they’re part of a meaningful community, not just a business.
A strong brand helps keep your employees engaged in the common cause. This is something that distinguishes successful organizations from ones that struggle. When both employees and customers understand and share your brand’s vision, they spread that enthusiasm to others.
Consistency is key to building such a vision. According to a study by Lucidpress, brands that are presented consistently are three to four times more likely to gain visibility…and the average revenue increase that results from consistent branding is 33%!
With so many communication channels out there, it can take a lot of work to maintain your brand consistency. The good news is that there are more ways than ever to reach new customers. Creative marketers will find that the rewards are well worth the effort.
Are you ready to strengthen your brand and present it consistently to the right audience? We’re ready to help. Drop us a line at info@brandedrepublic.com to get started!