The answer to this is YES!!!
Whether you are a sole trader, a small business or any sized business, your business needs a brand. But, why? Well, do you care about your businesses reputation and how your business is perceived in the eyes of your customers? If you do, then consider these simple points of branding. If you don’t, then read no further!
1. Branding is about building an emotional connection with your audience. This has a big impact on your business’s success or failure! Building an emotional connection with your audience, will strengthen your brand.
2. Branding is all about building the awareness and credibility of your business. If your business does not have a brand, then do you blame potential customers for not engaging with you?
3. Branding is all about creating brand values that customers can associate with your business. Brand values are key factors which make up the brand and differentiates your business from competitors! For example ,when you think of Apple you properly associate the brand with being innovative, creative and stylish. So, what are your brand values?
4. Branding acts as a credible guarantee for a particular product or service allowing customers to identify if your business really offers the added value they expect. If you do not have a genuine brand, it will be very difficult for you to build a customer base.
5. Branding is about differentiating your product or service from the fierce competition giving you the competitive advantage that you deserve! Branding develops that uniqueness of your business among your competitors, which results in long term profitability. So, why wouldn’t you want to achieve this?
6. We’ve left the best point’ til last! Branding generates tangible outputs, which include higher customer satisfaction, lower customer defections, higher customer spending, higher percentage of repeat business an therefore higher sales and profit margins!!
If you need any help developing your brand, get in touch with us today! Remember, branding is the key to your businesses reputation! If you don’t have a strong brand, then you may find yourself struggling with long term profitability.