WHY BRANDING IS IMPORTANTQuestion & Answer, 09/10/15
IN THIS VIDEO:
2.05 Brnding improves recognition
2.50 Branding creates trust
3.35 Branding supports advertising
4.56 Branding builds financial value
5.33 Branding inspires employees
6.39 Branding Generates new customers
Hey, guys. It’s Hayley from Small Business Performance Coaching.
In today’s blog, we’re going to go through Why Branding Is Important. Beyond just a memorable logo, good branding increases the value of your company. It provides employees with direction and motivation, and it makes getting those customers so much easier.
I know in a lot of our coaching, we talk about establishing your niche and credibility in your market, which all ultimately comes back down to branding and people knowing your brand and trusting you. What is branding? It’s everything. When we do talk about niches and your Facebook ads and everything, at the end of the day, this is all a massive branding exercise.
I’m going to go quickly through the six most important things of branding. See where you can relate these back into your business day-to-day and, when you’re going through our coaching, where you can see where branding is so vital.
A brand represents a sum of people’s perception of a company’s customer service, reputation, and advertising. When all of these parts of the business are working, overall the brand tends to be healthy.
But on the flipside, we all know a company that offers great products or services but has a really tarnished brand due to poor customer service. I’m not going to name any, but everybody can straightaway talk about a brand that they have had a bad experience with, and sadly, it only takes one bad experience to absolutely tarnish your whole brand image that you might have spent years trying to build.
Why is branding important?
Branding improves recognition
First off, branding improves recognition. One of the major components of your brand is, obviously, your logo or your brand colors. As the face of your company, the logo is critical because that simple graphic will be on every piece of correspondence, advertising, blog posts – everything.
A professional logo design, as you know, is really simple; you just have to, obviously, create one that is memorable but powerful enough to give the desired impression that you want for your company. You want it to represent your values, your business, your colors, your everything. Don’t just lightheartedly pick a logo; make sure it stands for everything that you represent.
Branding creates trust
Secondly, branding creates trust. A professional appearance builds credibility and trust – we know this. People are more likely to purchase from a business that appears to be polished and legitimate. Emotional reactions are hardwired into our brains, and those reactions are very real influences.
As we talk about all the time, you’re really creating that trust within your market. If people feel like they trust your brand, then they’re going to buy from you, they’re going to keep coming back to you. That comes back to everything down to the logo. Obviously, you need to start right, and that all starts with your branding.
Branding supports advertising
Thirdly, branding supports advertising. As we know, advertising is another component to your brand. Both the medium chosen and the demographic targeted for advertisements builds a brand.
If you have too narrow an advertising focus, you can become really pigeonholed and lose your ability to expand into new markets. But if you have to broad a focus, then you can fail to create an impression with potential customers because you’re too focused on a smaller audience.
We often talk about having a primary and a secondary focus. Obviously, your focus is always going to be your niche market, but then you go after another market that you wouldn’t normally, because you never know who is out there. It’s finding that balance.
A lot of people ask, “How do you find that balance?” It’s all trial and error. Obviously, you’re going to work on who you think your niche is based on your expertise and what you know you’re good at, but it might turn out that you’re actually more focused to XYZ niche because of the area or the location of where your business is.
Without trialing stuff, you’re never going to figure this out. It’s important always, if you’re running Facebook ads, to be running split campaigns and seeing what ads work better for you and what audiences you’re getting more traction from.
Branding builds financial value
Fourth, branding builds financial value. Obviously, we know this. A strong brand usually guarantees future business. The greater your company’s devotion to build that brand, the better financially you will be in the long run because you’ve created that brand, people have seen it, they trust it, and they want to buy into it. If you have a gym, if you have a franchise, you can go out and sell your brand to somebody else because they want to be a part of it.
Branding inspires employees
Fifth, branding inspires employees. I can’t stress how crucial this is. Like most people, many employees need more than just work; they need something to work toward. When employees understand your mission and the reason for being, what your goals are, it’s so much more likely that they’ll feel that same pride and they’ll work in the same direction with you to achieve these goals. They have goals that they want to achieve, and you’re on the same page as them. You’re all on the same page, and you’re trying to achieve the same outcome.
You really need your branding and your brand to inspire your employees. If they’re not inspiring your employees, then they’re not inspiring customers, either, because at the end of the day, employees are almost like your first customer anyway.
Having a strong brand is like turning the company logo into a flag for the rest of the company to rally around, to get excited about, to be proud of where they work. The amount of staff you see rocking around in, for us, and RBT Gym t-shirt on their days off because they’re part of something and they’re proud of what they work for.
Branding generates new customers
Sixth, branding generates new customers, obviously. Branding enables your company to get referral business. A large reason why “brands” is a word used for this concept is that the goal is a lasting impression.
As the most profitable advertising source, word of mouth referrals are only possible in a situation where your company has delivered a memorable experience with your customer. No one is going to refer you if you’re shit. It’s that easy.
You can have a great program, but people might not remember it. They’re like, “Oh, yes. I went to this place. I did a trial for two weeks. You know the one. It’s kind of like a blue sign and white.” They’re not remembering the brand.
You need them to say, “Oh, yes. I went to this place. You’ve seen it on the corner. There’s a big Results Based Training sign. It’s red and it has all these stripes.” Then people go, “Oh, yeah. I’ve seen that,” and then they put the two together because they’re like, “Somebody was talking about that gym. I see it all the time. I see it online all the time. Maybe I’ll go check it out.”
That’s a really quick wrap-up of the six most important reasons why branding is important. We go on and on all the time about putting logos on stuff, getting your content out there, getting branded content out there, marketing it, and it can seem like, “Why do I have to do all this?” But ultimately, it all comes into the bigger branding picture.
When you’re creating your content and you’re creating your ads, just keep this in the back of your mind – why your branding is important, what the long-run outcome is, and what you’re trying to achieve.
As always, if you have any questions or comments on branding, we’d love to hear them. Otherwise, hopefully, we’ll see some of your branding out in the market.
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