Most business people know that a company’s image, identity, and name are important, but many don’t realize that so are the colors, shapes, and fonts. They can all affect the consumer and ultimately have an impact on sales. Understandably, the power of a good brand can be found in everything from the company’s website to their slogan to their mascot (it may even be a particular product). Designing a brand can make or break your business so its important to consider every aspect like how to do a brand audit. After all, you want people to recognize and trust your logo so they can do what you do better too. This article highlights reasons why branding is more than just a logo:
IT BUILDS EMPLOYEE MORALE.
A strong branding strategy can inspire employee morale by celebrating the achievements and successes of your organization and reminding employees of the positive impact their efforts have had on customers and the community. A brand is just as effective in building employee morale when it celebrates employees’ accomplishments as when it celebrates stakeholders’ achievements, such as customers or investors. Creating a sense of pride in your company’s brand can help motivate staff to achieve more, especially if they understand how their work can directly contribute to the success of that brand.
IT BUILDS CORPORATE REPUTATION, INCREASED MARKET SHARE, AND INCREASES SHAREHOLDER VALUE.
Branding is a crucial indicator of what kind of service or product a customer will receive from your business. Research indicates that its brand value is often the single most vital factor to its shareholders. Companies with strong brands tend to have higher market shares and higher shareholder value than companies with weaker brands.
IT HELPS YOU TO STAND OUT IN A CROWDED MARKETPLACE.
A strong brand helps customers identify your business as unique while also communicating what they can expect from their interactions with your business. A strong brand also allows you to diversify your offerings to meet differing needs and preferences while establishing your company as a leader in its field.
IT HELPS YOU TO MAKE A LASTING IMPACT.
Well-executed branding can make all the difference when it comes to attracting customers, raising employee morale, and increasing shareholder value — which is why even small businesses should invest the time and resources needed to develop a carefully thought out branding strategy. Don’t think of your corporate identity as just a logo on your business cards — think of it as an opportunity for you to communicate your business’s unique place in the marketplace today and its potential for continued success tomorrow.
IT BUILDS CUSTOMER LOYALTY.
According to research conducted by the Small Business Development Center at the University of New Mexico, business owners who create a strong brand gain loyalty from customers by eliminating confusion in the marketplace. Customers are less likely to become confused about who you are and what you do if your branded business cards, website, and marketing materials reflect your company’s unique position in the marketplace and the critical attributes that set it apart from competitors.
Branding is a holistic experience that goes beyond logo and color scheme to encompass all the sensory elements of what you do and how you do it. A well-thought-out branding strategy often helps to build employee morale, customer loyalty, and even shareholder confidence. If you want to know more on building customer loyalty, check this out.