Why Brand Building Is Important For All Businesses
While it may appear like branding is something that should be done when that small business has gathered traction and is increasing in capacity, it is however just as important for small businesses as it is for the big. There is a strong link between successful businesses and branding. Branding is not just a logo or how your business is perceived externally (whilst it is a part of it), and successful brands have this branding at the heart of their businesses.
WHAT IS BRANDING? Branding is a way of defining your business to yourself, your team and your external audiences. It could be called the business’ ‘identity’, but only on the understanding that it embodies the core of what the business is and its values, not just what it looks and sounds like. This means that this kind of branding starts with everyone in the organization embodying the values of that business and not just what you want people to perceive. Branding does not begin at the stage of advertising. Branding begins from the very beginning of setting out the core values of the business. Who customers perceive your business to be is borne out of not just your advertising budget, but also out of the experiences others have had interacting with your brand. Customers today are so savvy that they can see through most attempts by companies to gloss, spin or charm their way to making sales. FEW REASONS WHY BRANDING IS SO IMPORTANT
- A strong brand encourages brand loyalty and advocacy. This can even protect your price in times when competitors rely on promotional discounts to drive sales as customers have already built trust with your brand and don’t easily ‘jump ship’.
- Your brand can also give you the ideal platform from which to extend your range of products.
In our subsequent blog post, we will be giving out tips on how to build your business brand, particularly for small and medium scale enterprises. As always, we would love to know your thoughts regarding this via a comment. Also, remember to hit the share button!