Are you still on the fence about whether or not you should invest your time and money in creating a brand? Do you look at major companies out there and think that they can afford to brand because they have the resources to do so. Or, because of their size it is easier for their branding to “catch on” so investing in branding makes it worthwhile. Many tend to think of these reasons or some variation, however this is truly not the case.

Benefits of branding

I can agree that starting a business in today’s market can be daunting because the market is very saturated, but it is not impossible and the tools available today can help you do so much more with so much less. So, if you have decided to push through, this is one of the main reasons you should seek the benefits of creating a brand. Business’ that do well are those who find ways to let the customer know they are special and valued. These businesses also tout their uniqueness and their overwhelming desire to solve their customer’s issues. They have discovered what their “secret sauce” is and realize that getting the word out is highly beneficial to their business. Also, making sure that the market is aware of their brand value and brand message further helps create brand equity with customers.

So, what are some of the major benefits of creating a brand?

Just because you have a business does not mean you have a brand. Brands are created. Building a brand encompasses such things as your logo, color palette, language, imagery, value and ideals. It takes a conscious effort to make sure all these things are in place, consistent and followed. Below are some of the major benefits of creating a brand.

Building customer loyalty – Nothing shows a customer that they are valued and solutions for their needs and issues are actively being worked on like branding. Branding has rules and values that they adhere to. As long as the brand keeps living up to these, their clients will be happy. Knowing what your customer values about you and look to you for, will help your brand stay in touch and increase loyalty.

Easier to launch a new product – with customer loyalty, launching your new products is much easier. While catering to your customer base, you will inevitably be aware when they need new products and/or services. Being focused on them will afford you the ability to grow your product line with products that they will both need and value.

Increase value – with great customer loyalty and the ability to successfully launch new products, you will no doubt increase your company’s value. Customer participation is very valuable to your business, it can make or break it. Not just your tangible assets but, how your customer feels about your business goes into deciding the value of your company. Branding and its wide ranging techniques all work to help build brand equity and increase value.

Allows for higher prices – without the benefits that branding offers chief of which is reliability, quality, and responsiveness a company may find it hard to price their product above what the current market pricing is. It is proven that customers will pay more if they perceive bigger and better value. So, how can you get across that you offer better, more reliable or more unique value if you are not branding?

If these reasons are not enough for you to start working on building an amazing brand, then consider this…market share. As I said before, this saturated market can cause many to sink however good branding, strong branding is the ultimate solution and life saver.

Caroll Atkins
Brand Stylist / Creative Director
Insta: @CarollAtkinsCreatives