Hello everyone! It's Friday! So what do you got planned for the weekend? But, before you clock out for the day, I want to share with you this article by Brafton that highlights the benefits of branding for small and big businesses.
When people associate branding, they often think it's simply the name, color, font, or logo, but there is more to it. Your brand must also incorporate values, motivations, purpose, etc. As the writer nicely puts it, "You want your customers to feel something when they think of your company."
The first benefit is brand awareness. Once there is trust in your company, customers will continue to purchase your product and service, especially when they know your logo and so forth.
The second benefit is that it drives new business. What is the best way to drive new business? This would probably be by word of mouth. According to researchers, 85% of small businesses gain prospects by word of mouth. Once customers know your brand and have experienced the benefits of using it, they would most likely refer you to other friends and family. Mark Zuckerberg said, "Nothing influences people more than a recommendation from a trusted friend." I know we have all at some point in our lives trusted our friends or family word about particular products or services and based on that you gave the person the job or the company that sale.
The third benefit is that shared values build company coherence. As the relationship with customers grows stronger, coherence development will be built with your employees as they are working towards the same goal.
The fourth benefit is that it is easier to roll out new products. We have clearly seen this with companies such as Apple. They don't need to do much persuading to sell their latest gadgets or phones because of their strong brand presence and the trust customers place in them.
The fifth benefit is better job applicants. Once customers trust your brand, it can attract more talent to be a part of the team. Gathering the best candidates can further your business to accomplish your firm's goals.
Steve Jobs said it best, " Brand is simply trust." What are your thoughts? Do you agree with this article? Please let us know below! Until then, continue to be safe and be well, my Community comrades.
