What is Good Branding?
When we speak of business branding we are speaking about more than a catchy name and pretty logo. Good branding creates an identity for your business and product. It makes you easier to be found by customer and it gives your employees motivation. Branding is the sum of the way people see your company’s customer service, reputation, logo and advertising. When this is done well, a business usually succeeds, when it’s done poorly, it usually fails. Here are a few ways good branding can help your business.
Branding Improves Recognition
When you look at successful businesses, whether large or small, they all have one thing in common. They are recognizable. When you hear the term KFC or see the Listerine logo, you automatically know who they are and what products they sell. They have a good logo and company colors. Even more important, they use it in every form of advertising and promotion they do. Recognition is key to a successful Business
Branding Creates Trust
A polished brand makes your company seem more legitimate. Customers are more likely to trust a company that they believe to be a legitimate one. It create a positive emotional reaction from customers. This emotional reactions makes them believe they can trust you with their money.
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Branding Supports Advertising
Advertising is a very important aspect of your brand. Both the method of delivery (TV, print, social media) and the target audience are very important. Creating your identity and disseminating it among these mediums correctly can improve brand awareness.
Branding Builds Financial Value
Sometimes, we need investors to help our business grow. Just as with customers, good branding makes your company more appetizing to investors. The more the brand appears polished the more legitimate and sound the company seems which is one of the important things investors look at.
It Inspires Employees
A good brand with a good reputation inspires employees to work harder and be more productive. The better the company’s branding, the more prestigious it is. The more prestigious the company, the better it is for employees. The better it is for employees, the more inspired they are to work harder.
It Generates New Customers
The point of branding and advertising is to turn people who see it into new customers. Good branding helps you to do this. New customers makes your company profitable. A profitable business is good for employees, good for investors and good for you.