Branding is how your customer perceives you. When thinking about your brand is not just logo and website it starts from everything you do, how you convey your purpose to a customer, how your team or employees respond to a customer, how you do marketing, and many more. Branding builds you an exquisite recognition because in Today’s world, the market is crowded with generic products and hence making yourself stand out from the crowd is significant. Everybody today buys for the brand. People choose the product of the brand they are acquainted with or which has been a success in getting their interest via its communication. And if they like the product, they make sure which brand to pick the following time they are going shopping or availing a service.
The position of branding has been changed over time. Earlier it was used to distinguish from other brands within the marketplace. Today it also adds personal attributes of the product and positions it in the market where it occupies the minds of the target customers. Whenever the customer goes through a positive experience the trust the customer has towards a brand increases. When you are a reputed brand the satisfaction level of your employees is also higher and they are encouraged to work hard. Because when they are working for a renowned brand they would get paid well and also it will bring better opportunities for them in the future.
People always tell others about the brands they love right? Would you tell someone about a brand you don’t remember? When your Brand drives a positive user experience it could get you more referrals. A brand will connect emotionally with the customers and they start to feel good when they buy from a brand they love.
Having a reputed brand gives us an effective advantage for easy product expansion. More products can be added to the product mix of the same brand. This offers a great advantage to the advertising as they acquire the goodwill of the prevailing brand.
Effective branding also creates a better Brand Equity which is nothing but a separate asset where the product value increases because it is associated with the brand. Brand equity depends on all these factors mentioned below
For example, let us consider Apple, Apple is a renowned brand right? Even after coming to know we have a lot of similar products in the industry at a much better price compared to Apple, still, their customers stay loyal and demand is always high so this eliminates the question of price because people love the Brand. Having positive brand equity would result in loyal customers eliminating similar brand competition and this, in turn, would increase your market share.
A good brand doesn’t just happen in a single day you have to plan strategically and be clear and concise about what you want to deliver to the customers. Having a clear brand strategy would make you targeted in your challenge and be prescient as an organization. A clear brand strategy should also be delivered to your team or employees so that they will understand and develop the precision to act and meet the organization’s goals. Having a clear brand strategy also reduces the time and money to utilize for marketing.
If you need assistance for a Brand from creating a Brand identity to building Brand strategies reach out to us for a free consultation, We would love to help you, because, at Cortex, We build people and let people build the Brand.