When you are an up and coming business creating a robust and defined brand is essential in establishing your company. Good branding increases the value to the company, creates brand equity, and is easily recognized by consumers and allows the ability to acquire customers easier. When you think of a brand, you think of a company’s reputation, logo, quality, history, and relationships with its consumers. The brand is everything, and it is vital to a company.
When creating a brand, you need to realize that branding improves recognition. Some brands can easily be recognized by their logo, slogan, even brand colors. Take, for example, Starbucks. You can distinctly recognize their official colors. Green, black, and white. They are consistent with these colors throughout their products and stores. Their colors immediately create recognition on their products, which in turn is also a way of advertising.
Advertising is important to a brand in order to gain exposure and make money, so using your brand is a great way to advertise. Placing your logo on products or ads to target your demographic is an excellent way to promote the brand. Getting exposure allows the ability to create trust and interest, and this is where people are more likely to invest and purchase from your brand. When advertising your brand, it also allows you to remain consistent with your advertising. This ties in with what was mentioned above in regard to colors, images, and slogans. Consumers like consistency. When they can recognize a brand by any of the three items mentioned, they are more likely to pay attention to what the brand is trying to tell them.
Branding builds financial value. This is a big one. When a company is publicly traded on the stock market, the value increases tenfold. Your branding creates your worth. Just think of some of the top brands in the world: Apple, Google, Amazon, Coca-Cola, Microsoft. These are all brands that have been around for years, and consumers trust their products and are recognized worldwide. You create credibility, recognition, equity, customer loyalty, consistency. These are all key benefits of branding.