Brand Identity is everything, it isn’t just your logo, its you, your team, what you offer and how you work – its what attracts your clients to your business.
Your brand identity is what sells your service. But branding is important for businesses of all sizes because it increases their value, gives employees direction and motivation, and makes acquiring new customers easier. Overall your business is the foundation of your identity, the summation of your products or services and – most importantly – the inspiration for customers to choose you over your competitors. In this article, you will find out, what branding is and why branding is important for small businesses.
How Branding Helps Business
Branding isn’t a measurable investment like pay-per-click advertising, but it can pay huge dividends in the long run. A small business lies in loyalty, the stronger your brand is the more connected your customers feel. Instead of simply purchasing from you, they are identifying with everything you stand for. Your competitors don’t exist, because they already know and love your brand.
Below we’ve listed the five most important elements of branding your small business…
Motivates your Employees
Any company can hire employees, but only a strong brand will hire motivated employees that are inspired to carry your vision and mission forward. When your brand shows pride your employees will as well. A strong brand is essential for employee morale and productivity.
Having a strong brand is like turning the company logo into a flag the rest of the company can rally around.
Support your Marketing Efforts
Marketing is an important component of your brand. The mediums and channels chosen as well as the demographic targeted helps to build your brand. Be careful as choosing a narrow marketing focus may lead you to losing your ability to expand into new markets. Yet too broad of a marketing focus could lead to an inability to create a definable impression of your company in consumers’ minds.
Some marketing techniques include:
- Business Cards
- Feather Flags
Just as people are more likely to purchase from a business that appears polished and legitimate using the business’s new logo on business cards, staff T-shirts and the outside of the building to give the business the professional image it deserved. Passers-by and others who encounter the logo can now easily identify the business as a trusted centre for education in the community.
When your company presents itself in a professional way, with social proof proving the quality of their service and products – prospects will trust that company and feel more comfortable giving their hard-earned cash.
Generates New Revenue
Branding your company is one of the best ways to get referral, therefore it is important that your logo, marketing and reputation work cohesively to from an impression on consumer minds. The most profitable companies, regardless of size have one single thing in common – They have established themselves as a leader in their industry by building a strong brand, starting with a strong logo.
Build Financial Value
Companies who publicly trade on a stock exchange are valued at many times the actual hard assets of the company. Much of this value is due to the branding of the company. A strong brand often guarantees future business.
Whether a company is in the position to borrow funds for expansion, being perceived as more valuable will make the process advantageous for the owner. The greater a company’s devotion to building its brand value, the better the financial return from its efforts.