If you’re thinking of starting a business or marketing an existing company you will need to look at your branding. Your brand plays an important role in defining your product or service. It communicates your company ethos and tells your customers exactly what your business is all about.
How does branding create value?
A strong brand will attract customers, it’s the face of your company encompassing everything you stand for. It will inspire confidence and strike a chord with your target market.
Think about your experiences with brands. How often have you clicked away from a website because it looked unprofessional, or thrown a leaflet away because it didn’t appeal to you. Branding is a language that has to communicate clearly above all the visual clutter.
Take a look at the ‘big’ brands and notice how they effectively communicate their core values. Apple says innovation and design, whereas Tesco communicates value and convenience. Notice how their branding is consistent across everything from their uniforms to their language, website and advertising. This builds brands, recognition and loyalty. It creates brand value.
Here’s a scenario depicting how branding creates value. Imagine walking down the high street and you see two posters, one is hand written with an arrow pointing to a shop selling mobile phones. The other is a professionally designed and printed sign pointing to another shop selling the same products. Which would you choose? In less than a second I’m guessing you gone for the reputable company where your expectation is better service, products and support. That’s brand value.
The point is we all make quick judgement based on branding so it’s crucial to give the right impression from the outset.
Think about how you would like your brand to communicate to your customers. What values are important and how can you qualify that.
The clearer you are about your brand and values the more successful you will communicate and engage with your target market. This is the very basis of successful marketing and the value of branding.