What role does your brand play?

What should a brand do?

Making your target audience choose you over the competition is only one aspect of branding.

It's also important to make your prospects see you as the only one who can meet their needs or provide a solution to their problems.

Branding is fundamentally a problem-solver. A reliable brand will:

• Clearly communicate your point.
• Verify the brand's reputation in the industry.
• Build up user loyalty.
• Encouraging the customer to buy.

Let’s look at some reasons how branding is important in your marketing strategy

1. Branding promotes recognition - People often choose to conduct business with well-known brands. People may feel better at ease acquiring your goods or services if your branding is consistent and obvious.

2. Your brand helps set you apart from the competition - By creating a unique brand identity that stands out from the competition, your company catches the consumer’s eye over your competitors. This helps you excel far past any of your competitors.

3. A strong brand generates referrals - A strong brand is essential to getting referrals. The most effective type of advertising is word of mouth, and when people appreciate a thing, they inevitably talk about it. Strong brands have devoted admirers as customers, which helps them spread word of mouth more quickly.

4. Your brand helps you create clarity and stay focused - With brand clarity and solid brand identity, you will regain confidence and feel encouraged and excited to market your service. You can live up to your business’s full potential, get in front of the right people, and have more reach and conversion.

5. Your brand helps you connect with your customer emotionally - Customers want to interact with brands that do good deeds and make them feel positive – companies that give them a sense of being heard and seen. Customers are less likely to switch to a rival brand when they have an emotional connection to the brand. You'll gain their loyalty and be rewarded with higher levels of client retention if you can establish sincere emotional relationships.

6. Lower Price Sensitivity - Price sensitivity refers to how much your product's price affects your target market's propensity to purchase it. The less it influences their choice, the better; it shows that they trust your brand enough to give the price less weight. Customers who are less price sensitive have probably been happy with a product they've purchased from you or feel good about your brand. You have the authority to increase pricing because of the strength of your brand. Why? since you've gotten really good at what you do. It's not something you can change immediately, but with time and effort, you can cultivate brand loyalty and lessen price sensitivity.

7. More people want to work with your brand - When an applicant sees a company that appears to have its head in the game, they’re likely to be interested. Everyone wants their curriculum vitae to stand out and be compelling. Additionally, a wider applicant pool typically results in a larger pool of individuals who are a good fit for your business. Candidates are more likely to pursue a position with your organisation over competitors when your brand is strong. An exclusive benefit that only your business can provide to its employees is the employee value proposition of your brand. More people are likely to want to work for your brand if you offer incentives and benefits that other brands don't.

Branding is more than just a logo, a slogan, or a design of a product. Customer experience, brand promises, corporate philosophies, and culture are all important factors. All of your traits combine to make you who you are. A branding strategy that is integrated into your whole business plan is unquestionably a strategy for expansion and achievement.

Image source: Leone Venter, Unsplash