Questions?   (410) 421-5010

7 Reasons Why Branding is Important for Your Business

7 Reasons Why Branding is Important for Your Business

Branding is more than just a pretty logo or a font on a website. It is a personality for your business and is crucial to your success. According to Forbes, “Branding is fundamental. Branding is basic. Branding is essential. Building brands builds incredible value for companies and corporations.” We agree. Branding is important for your business to build customer loyalty, passion, and provide direction for your staff. Don’t believe us? Here are seven reasons why branding is important for your business.

1. Competitive Advantage

For the survival, success, and growth of your company you must rise above the competition. It is crucial. Seems like everyone competes for resources, funding, talent, and audience. Your brand has to inspire, then fuse together with your marketing strategy. How will you rise above everyone else? Your branding serves to promote strategic areas and initiatives with the goal of moving forward, therefore creating your competitive advantage.

2. Provides Economic Value

Ok, so you may not expect your small business to bound on the scene, publicly traded from the get go.  If you are opening as part of a franchise, you may, however, but in most cases, you will be unknown. Strong branding is a solid asset investment and makes your company an economically valuable. If and when you seek to borrow funds for expansion, the perception of value is critical for approval. The greater your devotion to branding the better your ROI.

3. Sets Expectations

There is an unspoken promise that companies offer with their products and services. Consequently, the best branding explains this in a clear and concise way. Your customers, employees, suppliers all rely on what you say you will offer. Many times there could even be legal ramifications if your branding speaks one thing and you deliver another. Make sure you can make good on expectations.

4. Improves Recognition

While branding is more than a logo, your logo is arguably the most important part of your brand. Consider hugely successful businesses: McDonald’s, Nike, UnderArmour, Coco-Cola. All have a distinct brand recognizable worldwide. In addition, for improved recognition, your logo must appear on every piece of marketing material. From vehicles to uniforms, to print and digital ads. It is simple, yet memorable, however, powerful enough to stand as the representation of who you are as a business.

5. Creates Trust

Spending the extra time and money creating a professional appearance creates an air of credibility and trust. While we know the saying goes, “don’t judge a book by its cover,” most people cannot help it and do. People are drawn to a polished appearance. Emotional reactions are hardwired into the human brain, and those reactions influence actions.

6. Supports Advertising and Marketing

Advertising is the action verb of your brand. Take into consideration the medium you use, and the demographic you target. Be careful and chose appropriate platforms for appropriate audiences. Avoid both pigeon-holing your brand as well as being too broad. It sounds like an oxymoron: define yourself clearly while at the same time allowing for expansion. Create a brand everyone understands and relates to.

7. Inspires Employees

Your staff plays a pivotal role in the success of your company. First, you need to keep your customer base in mind. However, you must also have a brand your team will stand behind. Work on creating a strong mission and a common goal. At the end of the day, it inspires pride in a job well done.

In conclusion,  branding is important your business. Probably the most vital element of your marketing strategy. It enables you to drive people to your front door and convert them into customers. Proper branding increases referrals, website visits, foot traffic and furthermore, increases sales. It serves to create a memorable experience and a lasting impression.

Associated Property Management understands that it takes a team to create a successful marketing strategy. As a result, we encourage you to contact us for more info about our role in your success!

 

Our Location

Get Social With Us