Why your brand is the most important asset of your company
When is the last time you went to the market and deviated from your normal purchases? Any aisle in the grocery store has more product options than any one person can reasonably consider purchasing, but you went for what you know. It wasn’t habit that promoted you to make the same choices it was strong branding. In the past 50 years, corporations have seen a shift to consumers buying the story, not the product.
When buying a well-branded product or service, you’re purchasing the promise of a great experience; from your logo, website, social media, the way you answer the phone, to the way your staff interacts with your customers. The combination of a promise, look, personality, service, memorability, and attributes are the core of what makes up your branding process. Your brand is essentially shorthand for who you are.
The brand is the core of all your marketing efforts. Branding- done correctly, can instantly define what makes your product more desirable than similar products. The best brands are not just consistently conveyed to the consumer, but also a part of the internal DNA of your company. A strong brand also provides the clarity your employees need to be truly successful.
Several key factors are definitive of a great brand identity:
- Strong brands incite a quicker decision-making time. By picking a brand, the clutter is reduced, making it easier to find what you are really looking for.
- Successfully branded products command premium prices for their products, therefore adding to their brands value.
- Brands give customers a reason to share. We all have opinions about the things we experience, and in the age of digital marketing, platforms such as Facebook, Twitter, and Instagram make it easy to publicly share the products we love.
Buying particular brands also says something about the person who buys it. Purchasing an Apple iPhone tells others we are on the cutting edge, so if we want to stay ahead we buy iPhones. Samsung, Microsoft and Google have proven consistently over the past several years that Apple is not as innovative, yet we still purchase iPhones because Apple has the stronger brand.
Branding simply is the most effective and efficient way to show your customers who you really are, and one of the most foundational pieces of your marketing communications. A good brand doesn’t just happen; it is a well thought out strategic plan executed by everyone in the company.
Want assistance or tips on your brand, such as image management, DMS (document management systems) marketing processes, and easier workflows? Contact us for a free demo of our Bynder Brand Portal today!