Last week, we looked at what branding is, types of branding, components of branding and most importantly, how to brand your business. Today, let’s examine why branding is important for your business, as it cannot be emphasised enough how important it is.
Branding is much more encompassing than the services you offer - it is the personality behind your vision, offerings and goals of your business.
Some of the many advantages of branding include:
Loyalty - once customers are able to identify quality products from a particular brand, they tend to stick with such brands.
Recognition - consumers come across five to seven brands offering the same or similar products. Therefore, a business needs a strong brand to differentiate its products from competitors.
Market awareness - strong branding can replace expensive advertising, especially for small businesses.
Branding conveys your business story, product or service and should ideally begin at the early stage of operations in order to send the right message to consumers.
In summary, creating a good brand that is consistent, drives loyalty and yields new customers is the responsibility of every business owner or entrepreneur.
We, at the OVAC Group can assist in conveying your business story and value into a brand. For more information, please email email@example.com.