You learned the basics of creating a strong brand in building a brand for beginners, but why bother with branding at all? It takes a lot of time and money, and difficult decisions have to be made. So why do it? What is the true value of branding? Companies invest in brands because branding is invaluable.
It makes business decisions easier.
Wouldn’t it be great if you could streamline your marketing goals? Branding will help you do just that. By defining your target market and business goals, branding allows you to narrow your focus. When you’re faced with tough business choices, think, ‘Which option would best suit my brand’s image?’ Your brand is your business perspective. It defines both your company and customers. A strong, marketable brand will increase your business opportunities across the board.
Branding allows for consistency.
When your company is well-branded, it will be much easier to carry out your online messaging. When sharing on your blog, website, and social media channels, a brand creates a comfortable consistency and ease for sharing your message. When you’re in the stages of developing a social media marketing plan, having a solid brand becomes even more important. Your brand becomes something you can build off of, continue to remain consistent on all channels, and thus create a familiarity and trust with customers.
Branding decreases competition.
To customers, your brand is your company’s identity. Competitors in the market will be far less likely to sway your customers if your brand has loyal followers. Think about it: Why do consumers choose Macs versus PCs? Brand loyalty. Your product’s image can determine your business’s future.
You can charge more.
Today, people don’t purchase products and services. They purchase brands. When customers seek out your brand more than your competition, you can even charge higher prices. Think of your brand as a sustainable competitive advantage – without the extremely competitive pricing.
It allows for more innovation.
If you have been waiting to introduce something new to the market, remember: It will be significantly easier if you have a strong brand with loyal customers. Would you be more likely to purchase a new product from your favorite brand, or someone you haven’t heard of? Creating a high-value brand doesn’t happen overnight. Do you have questions or need help building your brand? Contact SocialNicole. We offer custom branding solutions for social branding and optimization. Photo Credit