Why is Branding Important for Your Business?
Branding is much more than just a logo. When you build a brand for your business, you create a cohesive identity that inspires your customers and target audience to stop what they’re doing and learn more.
Memorable brands exist across all industries — Levi Strauss, Ferrari, Chanel, Adidas, and Starbucks are all famous household brands even though they sell widely different products. Here’s why branding is important and how you can leverage the power of branding to grow your business.
Why is Branding Important?
While there are many reasons that branding is important, there are three factors that have the biggest impact on your business.
1. Branding sets your business apart from the competition.
Why would someone pick your product over another similar product? What “special sauce” does your offering have that sets it apart? And how can you express that differentiation within a few seconds to pull your ideal customers in and prompt them to pay attention?
The answer: You develop a memorable brand that captures attention, builds trust, and connects with your target.
When your product is on a shelf or in a list of search results, you can’t stand next to every potential buyer and passionately explain why your offering is the best. Your packaging, visual branding, and content are the only things customers have in front of them to make a purchasing decision and feel intrigued by your brand in those first few moments.
Branding is especially powerful for businesses who want to attract enthusiastic and engaged customers — the type of people who will become your biggest fans and refer your products to their friends and family. Your business isn’t for everyone, and by creating a memorable brand that visually stands out and resonates with your ideal customers, you can attract the people who are genuinely interested in your business while repelling people who are not a good fit.
2. Branding increases recognition and trust.
Not every product or business has memorable branding; however, every business could benefit from developing a recognizable brand.
For example, think about a generic local health food store that hasn’t taken the time to build a brand. The store may have an impressive bulk foods section, snacks that work with a variety of dietary restrictions, and a colorful selection of fresh produce — but customers may not remember what the store is called or what it stands for due to the lack of a consistent message or visual brand.
That may work for a while, but if Whole Foods were to open up a location down the street, that non-branded health food store would have a big problem because it had not built up a memorable and lovable brand that would encourage its customers to stay loyal. Branding can help your business attract more ideal clients, add more value, and compete on characteristics other than price.
Maintaining brand consistency is crucial so that your target can learn to recognize your logo, tagline, and content — oftentimes before they have even made a purchase from you. If your business uses a haphazard array of colors in your marketing or goes through bursts of being extremely active (followed by periods of being silent) on social media, developing brand consistency should be a top priority.
3. Branding inspires your customers.
Humans overwhelmingly want to feel connected and like they are a part of something. This pull towards connection is what makes storytelling such an effective content marketing strategy, and it’s the same force that compels people to wear logos of their favorite brands on their T-shirts.
When people feel attached to a positive narrative or vision behind a brand, and when they feel inspired by what it means to be part of that brand, they will make a purchase and stay for life.
Think about Tesla as an example. Tesla, at its core, makes electric cars — but nearly every other car company also offers electric car models. Why is Tesla so well-known and beloved by its customers? A big part of the answer lies in Tesla’s branding.
First, Tesla’s cars have a consistent visual design which creates a trustworthy feeling and a recognizable sleek look. Beyond the design of the cars, Tesla has inspired its customers by representing qualities that its audience wants to be known for like futuristic, cutting-edge, and innovative.
Every product, image, and piece of content Tesla produces falls in line with these brand attributes, and when someone buys a Tesla, they are not just buying a car — they are buying a piece of that brand identity as a Tesla owner. You can follow Tesla’s lead and use the power of branding to create an identity around what it means to be a customer of your business.
How Can My Business Start Building a Brand?
Once you are clear on why branding is important, the first step to building a memorable brand is to identify your target market.
While this sounds simple, many entrepreneurs have completed several “define your ideal client” exercises while still feeling like something is missing. You can read my recommended process on how to find your target here.
Once you have defined your ideal customer and understand that person inside and out, including their demographics and psychographics, you can work to ensure every aspect of your business’s visual designs, colors, content, and marketing attract your target and motivate them to learn more or make a purchase.
Sometimes as entrepreneurs we are so involved in our businesses that it’s hard to zoom out, and an outside professional perspective can spark insights that propel our brands to take off. Rather than wading into the realm of branding and design on their own, many entrepreneurs choose to work with a brand strategist to help them create a consistent and memorable brand that scales their business.
Aventive Studio is a branding agency that helps health and wellness product businesses stand out from the competition through brand strategy and memorable design.
We work closely with each client to develop a brand strategy that addresses brand attributes, competitor analysis, user profiles, brand voice, positioning, content strategy, and more — as well as how to attract more customers by expressing these elements.
Once a brand strategy is in place, the Aventive Studio team can create designs such as product packaging, websites, logos, brand boards, and more that create an unforgettable experience for your customers.
Originally published at https://aventivestudio.com on January 16, 2020.
