5 Reasons Branding is Important

Why Branding Is Important - Navvy

What is branding, and why do you need it? ​​Branding is the representation of your company. It tells a story about the quality of the products and services you offer. Mistrust ensues when your branding is messy, unorganized, or does not align with the products/services you offer. We live in a very competitive market, and with reviews becoming more and more a “source of truth” for customers, a company must create a brand that can outlast the changing market.

As humans, we express ourselves in the way we walk, talk, dress, and act. Our brand is how we express who our business is. So, you can think of branding as the way your business walks, talks, dresses, and acts.

#1 Connection:

Branding creates a way to connect with your customer base.

People buy from people, not businesses. If a customer relates to YOU, loves YOU, and fits into your story, they will buy from you. If your competition is more compelling and expresses themselves better, they will likely get the customer.

#2 Brand Awareness:

Companies with brand awareness reach more customers. Everyone is on social media nowadays, and if you aren’t, there are much fewer ways to showcase what you offer. Also, with the ease of reviews and the ability to look up any company online, the companies that are not online seem a little sketchy.

#3 Consistency:

Branding can create consistency and trust. Consistent touchpoints and branding between your SM platforms (website, Instagram, marketing platforms, etc..) can build trust with your audience. People trust what is consistent. If your brand isn’t, your sales will suffer.

When companies have inconsistent touchpoints across different outlets, it makes customers feel uneasy and unsure about the brand’s validity. Rapport and trust emerge organically when your branding is consistent with the quality of service you provide

#4 Loyal Customers:

Everyone is online, so if you are not, your customers may not look at you as a credible company. If they cannot see reviews and testimonials from other customers, they will likely not purchase from you. 80% of customers agree that a brand’s content authenticity is one of the most critical factors in their decision to trust a brand. Customers trust brands that are personable and tell a story. More and more, customers are steering away from overly polished brands or seem too good to be true. And, when considering a purchase, customers agree that brand authenticity is 3X as crucial as its customer service.

#5 Increased Sales & Profits:

Increased revenue is another significant impact of branding. Companies with Brand Equity (awareness and experience) have a better chance of referrals. As we all know, referrals are the most accessible and inexpensive source of leads. Social media helps get the word out and generates brand awareness. But even more important than the exposure, it provides you with the opportunity to grow relationships with your target audience. Studies show a brand’s online presence is directly connected to overall ROI and that companies spending between 2-4% of revenue on branding see better customer engagement and increased profit.

Branding is the backbone of any successful business. Create brand awareness, consistency, and trust, and you will see better engagement, increased loyal customers, and overall, increased profit.

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