It seems obvious but creating a strong, smart and unique brand for any business is key to how anyone buys into it. We all know what a brand is but why is it important for that business? Below are a few of my top reasons on why branding is important and why you need to invest time in creating it properly.
A brand can create a lasting impression and that can be achieved in a matter of seconds. It can build credibility or trust based on the smallest details: colours, fonts, images, tone of voice. This can all be balanced on a fine line, but so long as the brand is true to its core values, this shouldn't be a problem and you can push the boundaries. Just make sure it’s presented in a polished, professional way; people are much more likely to buy into something that feels legitimate and trustworthy.
The logo mark is a key component but not the only thing to consider. Branding is made up of so much more. Some marks have way too much content crammed into them that consumers lose focus; the simple rule of less is more is vital for a brand mark. A mark has to work on every type of collateral so it needs to be something that complements the main messaging, not distract from it.
Be part of something
A brand helps to define and reinforce a culture. It can build pride within the organisation and it gives the company a clear direction. Along with a company's values, a brand can help bring people together creating a tribe that not only keeps people on board but also entices new people to join the club.
All about the money
A strong brand will greatly increase the value of that company, even more than the hard assets it carries. An example of this was carried out on a brand survey, where the same car was given different superimposed badges to suggest a different brand. Volkswagen branding was seen to be worth more than Ford and Mercedes was valued higher than both. The brand was seen to be worth about 10% of the retail value of the car. So, the greater the devotion to brand, the better the financial returns in the long run.
“I bought this computer the other day, it’s lovely but I can’t remember where I got it from, it had a fruit or something on it I think?” The word 'brand' itself is full of meaning: the main aim is to leave a lasting impression, we want people to spread the word and remember the experience they had with that brand. Even with the rise of social media, word of mouth and face to face communication is still the best way to connect with your audience. A strong brand can help achieve this.