The Importance of Branding in Marketing
Branding is a phrase that you likely first heard of when you started creating your business. Often, branding gets pushed aside as something that only “big name” companies need to do, but that’s not the case. Branding is a critical component to any company’s success because it creates recognition, trust, loyalty, employee satisfaction and generates customers. Learn more about the importance of branding in marketing below!
There are so many brands that are recognized instantly simply by their logo. This goes to show the importance of branding in marketing. A majority of customers instantly recognize a bitten apple, a swoosh, or a double G as Apple, Nike, and Gucci’s brands. By designing a recognizable brand, companies are building recognition for their product – even with people who haven’t made a purchase!
After a potential customer sees a brand that they can identify over and over again, it establishes trust. Trust is a powerful driver for future business, but this trust starts with branding. According to PwC’s Consumer Insights Survey, 14% of respondents put trust as their number one reason for choosing a retailer, not to mention that “trust in brand” was the second most frequently cited reason for purchase decision-making. Your brand trust relies on what you say to your customers and how you say it. It’s important to inject your personality into your brand and prioritize relationships over sales. This is the key to developing and maintaining trust.
Another factor in the importance of branding in marketing is that it initiates loyalty. Once a customer has become satisfied with a company product, their loyalty will often become one of your most valuable sales tools. Not only will they continue to buy products, but they’ll also spread the word to anyone who will listen. However, branding must be cohesive across all points of a company to forge this loyalty.
Recognition and established trustworthiness through strategic branding are key factors in generating customers, which shows the importance of branding in marketing. Consumers today aren’t interested in your sales pitch or marketing lingo. They want to know who your brand is. Telling a story to your customers allows you to inject your brand’s DNA into the narrative and establish a strong brand presence.
Enhances Employee Satisfaction
The importance of branding in marketing is not only beneficial to customers, but it’s also critical for your employees. Belonging to a company with strong branding is more enjoyable and satisfying than working for a company that no one has ever heard of. In addition, employees take pride in working for companies that hold steady to their values throughout their company in their branding, product offerings, etc.
Do You Need Help with Branding?
At the end of the day, branding is easier said than done. The many components that create successful branding can be overwhelming to manage when running a company. Luckily, Frozen Fire is here to help! Contact us today for more information on how you can become an established and recognizable brand.