Any of the companies mentioned below have not endorsed this article.
Take a minute and think of some of the world's best companies. Think of the companies that you have always dreamed of working for or the companies you can’t wait for their new products or value their services so much, you feel like you can’t live without them.
Do companies like Apple, Microsoft, Google, Disney, and Nike come to mind? Do you know why? They have created amazing brands that stand at the core of their businesses that resonate with their customers.
Investing in your companies brand can also create feelings that resonate with your customers and can significantly impact your business.
Before we get started discussing why investing in your brand is essential for your business. We first need to define what branding is.
Some people may think branding is your logo or look of your product. But these are just parts of a brand. A logo is a tool that a business uses. The look of your product, or packaging, again is a tool, and what your customers buy.
Branding is much more than these tools.
Branding is creating a gut feeling that your customers have and how they interpret your company as a whole.
Branding involves many things, such as a logo, website, company voice, colour pallet, imagery, icons, customer service, mission, values, sales, marketing, and even accounting.
Branding is the interpretation of all working parts that make your business connect with your customers. A well thought out brand runs deep and is a core part of your business.
As branding guru Marty Neumeier says,
“Branding is a way to get more people to buy more stuff, over more years, at a higher price.”Let’s explore more of what Marty means.
Or another way of saying that is, branding is a way to create more engagement with your audience and create new customers.
A company that is very good at creating engagement from their customers on and offline is Starbucks. Starbucks has created a brand that encourages its customers to draw and create with their coffee cups. They encourage people to engage and interact with their products by sharing customer’s artwork on their social media networks.
They also reach out and engage with their customers on social media by creating branded content that encourages their community to comment, like and share with others. Starbucks also actively discusses and engages with its community on various social media channels as well.
All of this engagement, sharing and likes creates lots of organic marketing that their community and fans generate for them that all leads back to their business. Spreading the word is made easy when branded content is created in a way that your community is excited to share with their friends and family.
A way that branding can help your company create revenue is through recognition.
Recognition of your logo, product, or service. Identification of what you do!
A company that is very good at recognition is Nike. As soon as you see that little swoosh, you know what you are going to get. You are going to receive a product engineered to be a top of the line sporting equipment, and it will be one of the best.
You, as a consumer, know what you are going to receive when you purchase a Nike product. You know what to expect, and because of this, no matter the different revenue streams or products Nike creates. The brand that they have built generates brand recognition, and reputation of their mission and values will help them sell these new products.
Have you ever lined up for hours to get the new Apple product or felt greatly disappointed when the restaurant you go to doesn’t serve Coke? Or maybe you are a Microsoft or Pepsi person?
Either way, you like what you like. Branding is credited for this.
Branding helps businesses create a tribe of followers, so no matter what product a company will launch. The tribe will pre-buy it or line up at 3 am so they can have it.
Branding your company’s message and values and resonating with your audience well means that they will always come back for more.
“People don’t have relationships with products. They have relationships with brands.”-Forbes
Branding is used to add value to your product or service. The way your company is perceived in the eyes of your customers means everything. A great brand that aligns with your company tells your customers that you mean business.
Take Tiffany & Co., for instance. You know that when you see that tiffany blue and elegant packaging, you will receive the best diamond ring money can buy. Yes, you can buy any old diamond ring. But I wouldn’t be a “Tiffany Ring.”
As you can see, if the “greats” can do it, you can too. They have put a lot of thought and effort to align their business and brand to create a gut feeling in all the customers that the customers have made the right choice.
Branding should not be taken lightly, because it is like yourself. Every person works hard to portray themselves in just the right way so that others think of them in the same way. If someone's looks and values don’t align, people will see right through them and won’t trust them. Just like yourself, when everything is in alignment, your company will have the confidence to skyrocket into success.