What is Business Branding?
Business branding is a marketing concept that encompasses a wide variety of marketing practices and strategies. It is a very broad concept that many business owners struggle to fully understand. Branding can include anything from packaging design to advertisements to social media posts to in-store experience—etc. etc. To put it simply, business branding involves creating and maintaining a recognizable, unique and stable brand for your business by associating your business with specific symbols, phrases, words, and designs—such as logos, slogans, etc.
In other words, your business’s brand is basically what comes to mind when a customer or potential customer thinks of your business or hears its name. When you think of Starbucks, for example, their circular logo that features a siren wearing a crown topped with a star is likely the image that first floats into your head. The image of that crowned mermaid is present on every cup of coffee, gift card, and merchandise item Starbucks sells and has become synonymous with Starbucks itself. That’s an example of successful branding.
Branding can be very, very powerful and is definitely worth pursuing. In fact, successful branding can be the difference between a potential customer giving their business to you or choosing one of your competitors instead.
How Can Branding Help Grow Your Business?
Successful branding requires a lot of time and effort, but it is absolutely crucial to your business’s long-term growth and success. There are several reasons why branding is so important for growing a stable and successful business.
1. Gain Recognition
It sounds simple, but just getting the word out about your business can be a struggle—and it can make all the difference between failure and growth and success. In order for your business to grow, it has to be recognizable.
Branding your business makes your business more recognizable. Establishing symbols, designs, slogans, etc. that are associated with your brand and using them to advertise your products and services helps your business gain more widespread recognition. It also helps establish a sense of familiarity with your company among the base of potential customers in your area.
2. Give Your Business a Personality
In addition to designing specific words and images to represent your business, branding can also include more nuanced marketing practices such as establishing a unique and stable “voice” for your business.
Branding your business gives your business a personality. Successful branding can transform your business from a cold, unknown corporate entity to a warm, familiar face with its own unique voice that intrigues and attracts customers.
Giving your business a personality and a voice through successful branding practices helps your customers feel more connected to your business. It helps customers feel like your business understands them and their needs and makes them more likely to choose your business over a competitor.
3. Expand Your Reach
In order to increase your company’s customers and profits, you have to expand its reach. Branding your business can help you expand your company’s reach by reaching potential customers in multiple different ways through multiple different types of media.
The more symbols, words, designs, phrases, etc. that you can successfully associate with your business, the more likely it is for more potential customers to come into contact with your brand and choose to do business with you.
4. Build Customers’ Trust
This might seem obvious, but people are more likely to do business with companies they feel like they can trust. In fact, focusing on building up customer trust and confidence is one of the major strategies smaller businesses use to compete against giant faceless corporations. In order to grow your company, it is crucial to establish your company as a trustworthy business that prioritizes customer service. That can be tricky, but branding makes it easier.
Successful branding gives your business a unique voice and a personality of its own. It establishes familiarity and recognition among potential customers, which in turn helps build these customers’ trust in your company and makes them more likely to do business with you. A positive reputation is priceless for any business, and devoting resources to branding strategies can help you build up that coveted positive reputation for your company more quickly