8 Benefits of Branding

Every business knows that having a strong brand identity is important, but what exactly can it do for your company?

“Branding” seems to be a term that startup companies are constantly hearing. If you’ve ever visited a tradeshow or an entrepreneurial conference or watched a startup business video online, chances are you’ve heard the word brand at least a million times.

So why should we care about branding? A strong brand will definitely help a business stand out and surpass the competition.

What is a “Brand”?

Some people think branding is simply the fonts and colors a company decides to use. But if you’ve got a real understanding of what a brand is, you know that it includes many of the following:

• Design Style (eg. logo, colors, typography, and packaging)
• Company Hierarchy and Architecture
• Environment and Company Culture
• Philosophy and Overall “Personality”
• Taglines and Slogans
• Website and Marketing
• Social Media Presence
• Customer Service
• Storefront
• Product Quality and Pricing

Developing a strong brand doesn’t take millions of dollars, but it does take creativity, consistency, and a strategy to build a cohesive brand identity poised for growth.

“A brand is literally what people say about your business when you’re not in the room”.

– Jeff Bezos, Founder of Amazon

What Makes a Strong Brand?

There are many things that make brand strong.

Uniqueness, quality, a clear message, a solid philosophy, targeted marketing, and audience awareness are just a few. Typically, what makes a brand great isn’t just one amazing thing—it’s a combination of several.

A great example is Ikea. While they’re definitely not a small startup, they perfectly exemplify a strong brand. Why? Because they’re known for their low prices, giant stores, customer experience (cheap meatballs and set-up room displays!), and blue-and-yellow colors with the blocky font.

Similarly, fans of Apple are die-hard devoted because of not just one, but several key branding factors: the sleek look. The promise of quality products and innovation. The atmosphere of the stores. The story behind it all.

When you think about companies who are so powerful that they may as well be considered religions (like Apple, Nike, Coke, Amazon), consider that they all combine many things to make their branding work. It’s not just a logo. It’s not just a tagline. It’s not even just marketing research. It’s all of that, and much more.

Even a brand that’s much less well known—for example, let’s take the Screamin’ Sicilian Pizza Company, which makes frozen pizzas—employs many branding factors that come together to create a remarkable strategy. Their website, choice of verbage, font, and packaging make them stand very far apart from their competition. They are the ‘purple cow‘ in a sea of sameness.

What are the Benefits of Branding?

So why is branding so important? What does having a strong brand actually do for a business? It’s an ever-changing climate, but here are 8 key benefits of branding:

1. Customer Recognition: A strong brand creates recognition and familiarity among your target audience, making your company instantly recognizable. Never underestimate the power of familiarity. When a customer is shopping and sees the unmistakable typography/colors/images of a brand that they recognize, they’re more likely to grab that product than the sea of others that are surrounding it. Why? Because it’s eye-catching and familiar. From something wild and eye-popping (like the aforementioned Screamin’ Sicilian pizza) to something simple and zen (like And Union beer), good branding will click inside shoppers’ minds.
2. Trust: A well-established brand can build trust and credibility with customers, showing that your products or services can be relied upon.
3. Differentiation: Branding helps you stand out from competitors by showcasing what makes your company unique and why customers should choose you over others.
4. Customer Loyalty: A strong brand can cultivate customer loyalty, leading to repeat business and positive word-of-mouth recommendations. Once shoppers begin to recognize and buy a service or product, a good brand can keep them coming back for more—and can make them loyal “followers” of that brand. When a company combines a great product with engaging branding that hits all the right notes with shoppers, a business will see their customer loyalty begin to build and build and build.
5. Emotional connection: A well-crafted brand can evoke emotions, creating a personal connection with customers and fostering a sense of belonging.
6. Premium pricing: When customers perceive your brand as high-quality and reputable, they are often willing to pay a premium price for your products or services.
7. Flexibility: Branding allows you to expand into new markets or diversify your offerings under the umbrella of a recognizable brand name, giving you a competitive edge.
8. Future growth: A well-executed branding strategy can fuel future growth, helping you attract investment, enter partnerships, and expand into new territories.

Ultimately, strong branding can have a significant impact on your company’s success and overall brand equity in the marketplace.

Make Sure All the Bases are Covered

As you can see, great branding does quite a lot more for a business than just making it look pretty.

When done properly, strong branding can advance a business further than the owners ever thought possible.

If you’re a business owner who is looking to progress your company with strategic branding, be sure to make sure you’re covering every area so that you’re not missing out on any opportunities.
Need to get your brand in shape? Contact Jacob Cass to get started.