“A brand is much more than a logo”
This is the definition of a brand According to the American Marketing Association. A brand is a name, term, design, symbol or any feature that identifies one’s seller’s good or service as distinct from those of other sellers. A business owner (entrepreneur) that runs an online business which provide services to its customers is a brand.
Branding should be intentional. Actually, You can build a brand out of any business through different branding strategies. Furthermore, online business, offline business or Small medium enterprises (SME) can be short lived without intentional branding.
Branding is all about trust. It allows marketers associate meaning to product or services
Why Is Branding Important?
Let’s examine why branding is important for small medium enterprises. Whether they are providing products or offering services to the market;
- Branding gives you credibility. Your business would come across as professional. Thereby increasing the probability of patronage from your target audience and customers.
- Branding enables you charge your worth. After establishing a strong brand, customers would be willing to pay for more because they would value your business.
- Branding leads to customer loyalty. When your brand resonates with your customers, it leads to brand loyalty.
- Branding your business would save you time and money. Rather than jumping at cheap solutions after establishing your business, proper branding should be priority. Without proper branding, consistently is on a low and you may want to change your strategy, logo, website several times before you are satisfied with it.
- Branding gives you an edge in a competitive market. A strong brand can make your business standout.
- Branding facilitates effective publicity. Branded goods can be advertised effectively. This results in the popularity of your product or service and eventually sales. Consumers remember their favorite brands and purchase products on brand names.
- Branding gives control on marketing. An effective control on the marketing of your goods and services because price, quality etc. are fixed. This saves your business because the scope of middle men on price rise and adulteration are cubed.
Just started a business and you are confused on how to go about branding. Reach out to us at Solidfiction.com for a free consultation.
You can also check out this video from trigger communications to understand better what a brand means.