You own a business, but do you know how important it is to do branding of your business. In this competitive world Branding becomes even more important than you may think.
In this article I am going to share with you the 5 reasons why branding is important in 2020.
First of all, you should know what branding is, so here’s a quick definition.
What is Branding?
Branding is a marketing strategy building a name,design, and logos that would become the identities of your company or product.
For example, an apple behind a laptop/phone is the identity of the apple company, the ‘swoosh’ mark on any costume belongs to the Nike company, etc.
So, you may have understood what branding means, now it is time to learn why branding can have a big impact in your business.
#1 Branding Makes your Business Recognizable
The key elements of branding are the name and the logo, people recognize a brand by these two things. These things are like the face of your business and everyone judges a person by his face only. So, having a good face is important.
If you have done the right branding, then people will never forget your company. Your business will become recognizable to people and this recognition will help your business get sales again and again as people will buy from you again and suggest their friends as well.
#2 Branding Builds Trust
One of the most important things to get a sale is to build trust in customers and branding. Let’s take an example, ask yourself Which laptop is best to buy? And the answer to this will obviously be Apple because they have done the right branding of their business, they have builded trust in people.
Everyone wants to feel comfortable before they purchase anything so building trust becomes important. When there will be a social proof (branding) of your company product that you offer the best quality product, then obviously they will feel more comfortable paying some money to you.
#3 Branding Helps to Stand Out of the Competition
In the year 2020, the market has become very competitive, but How is your business different from 1000 others? You have to realize that you are not owning a shop that has 3-4 competitors, you are owning a business which has more than 1000 competitors who are as good as you.
Branding helps you stand out of this competition, it makes you different from 1000 others. When you do branding of your business, you are building your business identity and once you have your identity, you’ll automatically stand out of the competition and expand the business.
#4 Branding Helps to Get New Customers
Currently, You have a good amount of customers, if you have branded properly, then your current customers are going to recommend your company to their friends or family members as branding created trust and improved recognition in the customers.
A big brand attracts new customers like a magnet. Strong branding will make a positive image of a business in customer’s eyes and this is what every company has to make.
#5 First Impression is the Last Impression
What is the first thing that anyone sees in a company, ‘Name’ or ‘Logo’, Right? And this what branding is all about i.e designing of your brand. This becomes the first impression in the customer’s eyes.
As there is a common saying that:-
“First Impression is the Last Impression”
So, your first impression has to be good and branding makes your first impression good and builds positive feelings in the customer’s mind.
These were the 5 reasons why branding is important for any business, make sure you are doing the right branding of your company as it can have a big impact in your success.