Why Branding is Worth the Investment
Branding is expensive. There, I said it. But, it’s so, so worth it. Here I’ll outline why branding is worth the investment.
I’ve heard countless people say ‘branding isn’t in the budget this year’, ‘I’m just starting out – branding will have to come later’, or some variation of that. To me, that’s like building a business backwards!
By starting with a meaningful brand for your business, you can set yourself up for success far more than rebranding later. I’m of the opinion that branding should be one of the first steps.
When you put off branding, you could be potentially harming your business without realizing it. Did you notice in the last paragraph I said ‘rebranding’? Whether you start with a brand or not, you develop one along the way. You develop a brand voice and brand recognition. You may unintentionally be targeting the wrong audience and turning away the right audience. By strategically developing branding at the beginning, you’re building your business with intention. By investing in branding at the start, you’re setting your business up for success.
Here are 4 reasons why branding is important for your business:
Branding Creates Trust
When a company presents themselves in a professional way, and when there is social proof that their products and service are quality, clients will trust that company and feel more comfortable giving it their money.
Branding Supports 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 of too narrow of a marketing focus, or you’ll lose your ability to expand into new markets. Then again, too broad of a marketing focus could lead to an inability to create a definable impression of your company in consumers’ minds.
Branding Motivates Employees
Anyone can hire employees, but only a strong brand can hire motivated employees that are inspired to carry your vision and mission forward. When your brand feels pride, your employees do as well. Having a strong brand is essential for employee morale and productivity.
Branding Generates New Revenue
Branding is one of the best ways to get referral or word-of-mouth business. And again, this is why it’s important that your logo, marketing, and reputation work cohesively to form an indelible impression on consumer minds. Think about it, you can’t tell your friend about the amazing golf clubs you just bought if you can’t remember the brand.
No matter what size they are, the most successful businesses are the ones that have established themselves as a leader in their industry by creating a strong brand. And, when these businesses focus on building valuable customer experiences, they easily transform customers into brand ambassadors.
