We are all consumers. But just how much do we think about what we buy and why? Do we actually think about the importance of a brand or logo, are we sucked in by sexy images and catchy straplines, or do we just go with the flow of those that are synonymous with our daily living. Just how much do logos, logotypes, typefaces, icons and swooshes really interest us?
When considering the logo style of your company, remember the importance of corporate image. Deciding the name should be a well thought out process to ensure its appeal to your target market. The importance of choosing your logo and brand begins with creating a simple name for your company. Consumers remember simple. Also, making sure your name can be associated with a positive value, characteristic, or position is part of the importance of the brand. Consumers like products to which they can associate positive qualities.
The impact of a name reinforces the importance of the brand. One of the world's most popular athletic shoe companies, Nike, highlights the importance of a corporate identity by the fact that when you hear Nike, you think of the ‘swoosh’ athletics and "Just Do It." A great brand name and association has catapulted Nike to the top of its industry.
Another aspect of the importance of branding is that your name must be different and unique. If your name is too close to another company's then people are likely to mix you up, which reduces revenue.
So you see your company brand or logo is of vital importance to your company. Brand name recognition can increase your profits by between 10 to 20 percent. Analyze the importance of branding and determine how you can use your name to promote positive qualities. Encourage your employees to learn about the importance of branding and to put the branding message out to the consumer. Believe in your brand name, what it means, and consumers will follow.
Almost every business has a trading name, from the smallest market trader to the largest multi-national corporation. Only a minority of those businesses however, have what could be classed as a brand.
Branding or company logo is the process of creating distinctive and durable perceptions in the minds of consumers. A brand is a persistent, unique business identity intertwined with associations of personality, quality, origin, liking and more.
Although most people associate brands with big companies, the smallest of enterprises can use branding techniques with great rewards.
recognition and loyalty
The main benefit of developing a company logo is that customers are much more likely to remember your business. A strong brand name and logo/image helps to keep your company image in the mind of your potential customers.
If your business sells products that are often bought on impulse, a customer recognising your brand could mean the difference between no-sale and a sale. Even if the customer was not aware that you sell a particular product, if they trust your brand, they are likely to trust you with unfamiliar products. If a customer is happy with your products or services, a brand helps to build customer loyalty across your business.
image of size
A strong brand will project an image of a large and established business to your potential customers. People usually associate branding with larger businesses that have the money to spend on advertising and promotion. If you can create effective branding, then it can make your business appear to be much bigger than it really is.
An image of size and establishment can be especially important when a customer wants reassurance that you will still be around in a few years time.
image of quality
A strong brand projects an image of quality in your business, many people see the brand as a part of a product or service that helps to show its quality and value.
It is commonly said that if you show a person two identical products, only one of which is branded; they will almost always believe the branded item is higher quality.
If you can create effective branding, then over time the image of quality in your business will usually go up. Of course, branding cannot replace good quality, and bad publicity will damage a brand (and your businesses image), especially if it continues over a long period of time.
image of experience and reliability
A strong brand creates an image of an established business that has been around for long enough to become well known. A branded business is more likely to be seen as experienced in their products or services, and will generally be seen as more reliable and trustworthy than an unbranded business.
Most people will believe that a business would be hesitant to put their brand name on something that was of poor quality.
If your business has a strong brand, it allows you to link together several different products or ranges. You can put your brand name on every product or service you sell, meaning that customers for one product will be more likely to buy another product from you.
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