6 Reasons Why Strong Branding is Your Most Important Business Asset

Felix Yim

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Creating a timeless brand can often be difficult. In order to stand out, your brand shouldn't be unique, but recognisable. It needs to identify your company while also distinguishing it from the other market competitors.

Your brand is easily one of your company’s most valuable assets because it captures what it represents and everything it stands for. That’s why some companies can take years to put the necessary components together that ultimately make their brand completely remarkable to consumers. Below are six reasons why strong branding is your most important business asset.

Branding Improves Recognition

One of the reasons why strong branding is so vital for your business is because it’s directly related to how consumers recognise and connect with you. The two major brand components are the logo and slogan, as they are how people will instantly recognise your business.

Out of these, your logo is easily the most important element of your brand, as it will essentially become the face of your business. A refined or clever brand logo combined with a catchy slogan will help ensure your brand makes an unforgettably significant first impression so that it becomes memorable in their mind at a glance.

Branding Creates Trust

Any company with strong brand recognition is always much more likely to be trusted thanks to their familiarity with people. And in today’s fiercely competitive and over crowded marketplace, consumers have more options than ever before, so building brand trust has become an even more critical competitive differentiator.

Jeff Bezos, founder and CEO of Amazon has this to say on branding his company “A brand for a company is like a reputation for a person. You earn reputation by trying to do hard things well.”

While its exceptional customer service along with expert knowledge that will keep customers coming back, it’s your branding that determines how many customers will trust you initially. If you can deliver a commitment to excellence and quality over the long term, people will come to believe in your product and trust in your services.

Branding Motivates Employees

Most employees these days are looking for something more than just a job and a paycheck - they need to feel like they are a part of something special. And by creating a strong brand for your company, the company logo almost becomes a flag they can get behind, believe in, and fly high at all times. Because when employees also believe in the company mission, they are far more likely to feel a sense of dignity while they strive to reach the same goals as you.

Focus on creating initiatives that improve staff retention, while also increasing satisfaction and fostering a positive company culture where they feel like they have their own stake in sharing the brand message. With engaged and motivated employees on your team, they are far more likely to become brand ambassadors who are invested in the brand’s success.

Branding Builds Financial Value

Strong branding is not only good for recognition, but it also can help increase the financial value of your company and guarantee future business. In fact, the stronger the resolve of a company to build value in its brand, the quicker these efforts will see a financial return.

Almost any company that trades publicly on the stock exchange will be valued many times higher than their actual assets, which in most cases will be due to their branding and reputation as a whole. Whether a company is looking to roll out to an IPO or borrow money, a strong brand will help secure funding as the business will be more valuable than an unknown start-up without a recognisable brand.

Branding Retains Customer Loyalty

Strong branding can also help you to create loyalty with customers who will be there to provide support through the good times and the bad. Customer loyalty also means that they will influence more people to try out your company by introducing them to you by spreading your on-brand message to any other people that they know.

Bree Bensley, National Marketing Manager of Narellan Pools, has this to say on the importance of great customer service and how it is the key to building a strong brand:

“We are committed to delivering the world’s best and most loved client experiences. A key reason why we’ve built such a great reputation is our outstanding client service,” she says.

"From the moment our clients enquire, through to their design consultation, installation of their pool and beyond – we want them to feel informed and supported. Exceptional client service generates referrals, and that brand loyalty has contributed to our growth."

Advertising and marketing are both crucial elements for success when you’re building your brand, with both the chosen medium and the target demographic. Your brand marketing should be used as much as possible to spread the word about your company so that it stands out from the rest of the competition.

By properly marketing your brand, you’ll be able to establish quality connections with consumers and build long-term, positive relationships that last over the long term. And with an increased number of consumers who are aware of your brand, the more likely they will be to trust you take action when they see your brand advertised in the future.

Final Thoughts

Smart and distinct branding is critical in order to stand out from today’s competition. Otherwise you’ll get lost in the sea of other similar companies out there all vying for the same exposure as you. So, find out what the big picture is for your organisation, build your branding, and your target audience will come to you.

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Felix is the founder of Society of Speed, an automotive journal covering the unique lifestyle of supercar owners. Alongside automotive journalism, Felix recently graduated from university with a finance degree and enjoys helping students and other young founders grow their projects.

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