Are you one of the five million new business owners that got started within the past couple of years? Are you hoping to build a recognizable brand, so that your business can stand out from the waves of competition in this country?
Then you need to invest in quality branding. Branding is a buzzword in today’s business ecosystem, but rightfully so. It’s extremely important, both for brand new businesses and those that have been around for 50 years.
But what does it mean to develop a brand, and how does good branding generate business growth? Keep reading below to find out now.
What Is Branding?
Before diving into the benefits of branding, you need to have a clear picture of what it means.
What companies have the best branding? Apple? When you think about Apple, you probably think about a few different things.
You think about high-powered laptops. You think about the phone in your pocket. And you think about the simple Apple logo with a chunk missing from it.
This is branding.
You might also think about the Apple Store, which is a futuristic-looking retail environment. You might think about how helpful the staff is, or how easy it is to send in your devices for repair.
This is also branding.
Branding is the image of your company. It’s what people think about when hearing your business name.
The foundation of your branding is your design assets. This includes your business name, your logo, your tagline, your colors, your fonts, and any graphics associated with your business.
Take it one step further and branding is the clothing that your staff wears, the functionality of your website, and the cleanliness of your store.
Go out one more layer and it’s the level of service your company provides to its customers, how quickly the phone is answered, and how fast products are shipped.
Branding is many things. But the foundation of it is your design assets. As a new company, you need to nail this down before working on the other aspects of your branding, as this is what potential customers experience first.
So why are these things important?
Branding Gets You Noticed
You technically don’t need a logo, or even a business name to start a business. But how are you going to attract customers if you don’t have these core branding assets?
Branding, first and foremost, gives potential customers a reason to check you out. Most companies offer very similar products and services.
If you offer AC repair services, so do 30 other companies in your town. And the quality of the service will likely be identical.
So what causes a customer to choose your company over another one? Branding. If you have a catchy name, an aesthetically pleasing logo, and a website that looks and feels professional, a customer might choose you over a competitor.
Multiply this by hundreds, if not thousands of people searching for AC repair every day, and that’s some serious business.
Branding Attracts Top Talent
Branding isn’t just used to attract new customers. Branding can also attract and retain good employees.
People want to work for the best companies. They want to work for companies with positive reputations so that they can advance in their personal career.
When you have a reputable brand, those looking for work will come to you first, as they see you as the leader in the space.
Branding Builds Trust
Trust is difficult to build these days. It takes time. Often decades to earn the trust of the masses. But branding helps.
Think about Apple again. If people had the choice of choosing an Apple computer, or some new computer company with a complicated name, what are you going to choose?
You’re going to pick Apple because you know their products are reliable. They’ve spent decades building a brand that produces top-of-the-line computers, and helping their customers immediately when they face an issue.
Likewise, when you invest in professional branding assets, they will help you build trust over time. The longer you’re in business, the more your business name and logo will be ingrained in people’s minds that you are reliable and you are here to stay.
Branding Increases Engagement
Branding and marketing go hand in hand. You can market, whether physically or digitally, without a brand in place.
Branding gives you the opportunity to showcase your company in many places. And doing so increases all-around engagement.
For example, you’ll have your website. You’ll also have one or two social media profiles, such as Facebook, Twitter, or Instagram.
Then, you can also have a place where your brand creates and distributes content. This could be an entertaining or educational YouTube channel. It could be behind-the-scenes on TikTok. Or it could be a book written to establish your company as an industry leader.
The more places you can plant your feet using your branding assets, the more you can engage with different types of people, ultimately growing your customer base.
Branding Boosts Company Valuation
Over time, your branding assets become more and more valuable. Your logo and business name become valuable, simply because they are well-known and trusted.
And good branding can also position your company to be sold in the future. When your branding assets are top-tier, they can actually boost your company’s valuation and move you closer to a sale.
So while it might be tempting to try and save money by doing your own branding, you’ll be hurting your business down the line.
Branding Let’s You Charge More
When you develop a reputable brand, you can do things that a lot of other companies can’t do. If you don’t have a trustworthy brand, you’re trapped in selling products and services at the lowest price.
Increasing their prices would mean their customers just leave in search of someone more affordable.
But when you have a trustworthy brand, you have loyal customers and followers. And those people are willing to stick with you even when you do raise your prices.
Why? Because you’ve built trust with them. They see your logo and they know they are going to be taken care of.
But if your branding looks the same as everyone else’s, dull and boring, you’re not going to get away with a price increase, even if you have better products or services.
Branding Express Company Values
If done right, a brand should be able to convey, either directly or indirectly, what is important to your company. It should convey a deeper message.
That’s what the name Amazon does. Jeff Bezos originally wanted to create the largest book store. That idea morphed into creating the largest store, period.
The name Amazon expresses that desire since Amazon refers to the largest rainforest (and river) in the world, which has a direct impact on the health of the entire planet.
And look at the Amazon logo. The “smile” is actually an arrow that points from “A” to “Z,” referring to the fact that Amazon carries anything and everything you could possibly need. And of course, you can buy it all with a smile on your face, because it’s so easy, and it shows up at your door in two days.
Or think about Google. The name “Google” is actually a misspelling of “googol” which refers to a number with 100 zeroes.
The founders stuck with the misspelled version when naming the company. Today, Google corrects the spelling of billions of users every day.
How to Develop Quality Branding
Yes, branding can do all of the things listed above to help you grow your company, serve more people, and build a business that will stand the test of time.
But that’s only the case if your branding is done right. If it’s done poorly, or it’s done by you using free tools you found online, don’t expect to go very far.
Companies with the most recognizable branding have paid the top branding experts to design those assets and create a cohesive experience.
It takes work, talent, and insane skills to build a solid brand. So how can you do it?
Step one is to stop trying to do it yourself. Step two is to hire a branding agency, such as Avenue 25, that has experience helping entrepreneurs and companies just like yourself.
As mentioned earlier, branding goes way beyond a logo and a tagline. It’s everything your customers and potential customers can see, touch, and experience.
Only trained branding experts can provide you with the ultimate package of branding assets to revolutionize your business and help you boost your business. Don’t skimp on a branding expert. It’s one of the most important investments you can make in your business.
Start With Great Branding
Creating brand value takes time. It happens every day that you conduct business. But it all starts with a brand name, a logo, and a few color choices.
Branding evolves over time, but it starts with your design assets. When those are done properly, they become a guiding light for your company.
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