The Importance of Branding
“I’m Loving It.”
“Just Do It.”
“Taste The Rainbow”
Three words are all it takes for these businesses to evoke thoughts of their companies and products in the minds of the public. Crisp yellow french fries, sleek comfortable workout gear and tasty little candies are all running through my mind without the company names even needing to be spoken.
Beyond that, there are the brand's that have taken over their specific industry. When you have a runny nose, you ask for a Kleenex. If you scrape your knee, you reach for a Bandaid. These products have all but erased their original name.
Branding works the other way too. The slogan and name recognition are great, but they only reach so far. Really successful brands don’t even need a slogan. When you think of smartphones, what two brands pop into your head?
All of these things sound great, but why?
It’s all part of branding. Branding spreads your name and builds your business up. But why is it really important?
There are a few answers to that question. For one, it increases your company’s value. The stronger your brand and the farther your reach, the more value your company and products will have. As you build your brand, you should be able to see the increase in brand value. The above examples show exactly that.
Another reason branding is important is because it builds a trust with the public. New clients will know they can trust your company if they are hearing a lot about it. Popular brands get a lot of word of mouth and product placement, causing new clients to check them out.
Branding also builds trust with existing clients. If your company is visibly building a brand and working to expand and grow, your clients are more likely to stick with and trust you. They need to be able to see that you care about growth and improvement or they will find someone who does.
This is the same for keeping employees. If your employees can see you actively building your brand, they will be more confident in their work and more loyal to the company. Just like with the clients and customers, employees need to see the growth and the effort behind it. They need to know that you are seriously interested in the growth and success of the business and branding is a big way to show that.
It seems obvious that building a brand that people know is a good thing, but in order to really care about something, it's important to know why. For all of these reasons, you should be excited about branding for your product or company. It's truly worth the effort and will only bring you more success if done right.