What Is Company Branding and Why Is It Essential?

What-Is-Company-Branding-and-Why-Is-It-Essential?

At face value, a brand is your logo, your website, your colors, and even your tagline. But beyond that, a brand is also your building, your employees, and your culture. Even more, it’s your products and/or services. It’s your pricing model and it’s the way you do business. A brand is all of those things and more. When thinking about your brand, it is important to consider all aspects of your company. Down to your email signature.

So, What is Company Branding, Exactly?

It has been said that your brand is the one sentence people say behind your back. A brand is what differentiates you from your competitors, and what influences the way consumers perceive your business. Think of a brand as a company’s personality. It gives people a quick idea of what they can expect if they do business with you. So much can be communicated simply through colors, typefaces, and images.

Why Company Branding is Essential

Having a solid brand is important to any company’s success because it eliminates the need to compete on price alone (which will only leave you broke, and stressed). All things being equal, the company with a stronger brand will win any sale, even if they’re more expensive. When a brand name is strong, consumers will pay a premium.

Think about it. Why do people spend $5+ on a cup of Starbucks coffee? Especially when you can make coffee at home for a fraction of the price. Part of it is convenience. The other part is branding. Because Starbucks is such a strong, recognizable brand, it becomes more about status, as well as how the whole Starbucks experience makes you feel. Starbucks has done an exceptional job with this by asking for your name when you order. When your name is called out by the barista, rather than just yelling out the drink name, you can’t help but feel a little bit special. It’s a small, yet impactful way to connect with their customers on an emotional level.

A strong brand is also a way of life. Think of companies like Disney, or Apple. Those brands have loyal fans because they change the lives of their customers for the better.

When you think of Disney, you think of happy memories from your childhood. You think of being with your family. You think of magic. You think of your favorite movie and it’s characters. It makes you feel good in so many different ways, it’s hard not to fall in love. People pay hundreds of dollars to stand in line for hours at Disney World every day because they’re buying the experience, and the memories.

When you think of Apple, you think of stylish innovation, and you think of streamlined convenience. You think of being connected to your friends and family, and your social network. When people buy an iPhone, they’re not just buying a cell phone. They’re buying simplicity and connectedness. It can be argued that the iPhone technology is actually behind industry standards. Even still, consumers are more than willing to pay a premium price because they love the brand so much.

While those were two global brand examples, it’s incredibly important for local companies to have a strong brand as well. Consumers love to support their local community, and when you create a brand that they can connect to on an emotional level, they’ll want to support your company all the more. Think about the local places you like to dine or shop at. What is it about their brand that makes you want to come back? Is it the friendly workers? Is it the cozy atmosphere inside? Is it the way the waiter remembers your order every time? Whatever the reason, I’m sure you can think of ways to incorporate similar brand elements into your own company.

Top-of-Mind Awareness

Having a strong company brand results in top-of-mind awareness (TOMA). Top-of-mind awareness, what all brands want, is to be the first brand or product consumers think of in a particular category. For example, if someone were to ask you the first company that comes to mind when you think of greeting cards, your answer would probably be Hallmark. Or the first fast-food restaurant, your answer may likely be McDonald’s.

That type of awareness can only be achieved if you have an incredibly memorable brand. Consumers are making buying decisions every day based on one main factor: who comes to mind. Whether they’re choosing a restaurant for date night, planning a wedding, birthday shopping or looking for entertainment, the decision making process is the same. Suggestions are made based on businesses that come to mind.

To Sum It All Up

Branding is absolutely critical to a business because of the overall influence it has on your company. Branding can change how people perceive your brand, it can create new business and increase brand awareness. Here are the five major ways your company’s brand can help your business succeed:

  • A Strong Brand Creates Recognition

Being memorable to consumers is critical to business success. A strong brand helps your business stay on the forefront of your customer’s mind. With new competition popping up all the time, it’s never been more critical to stand out in a crowded marketplace.

  • Branding Generates New Customers

Strong branding typically translates to a positive perception among consumers. A well-established and memorable brand will likely generate word of mouth recommendations, one of the best and most effective forms of advertising.

  • Your Brand Creates Trust Within The Marketplace

A professional appearance and strategic brand will help your company build trust with consumers, potential clients and customers. People are more likely to do business with a company that has a professional image because it gives the impression of being industry experts and makes the public feel as though they can trust your company, what it offers, and how it conducts business.

  • It Improves Employee Pride And Satisfaction

Last, but certainly not least, when an employee works for a strongly branded company, and truly stands behind the brand, they will be more satisfied with their job and have a higher degree of pride in the work that they do. Working for a brand that is reputable and held in high regard amongst the general public, makes working for that company more enjoyable and fulfilling.

Start Building Your Brand

It isn’t easy to build a strong brand, but it’s crucial for any company’s success. If your company doesn’t have a brand, don’t worry! Because it’s never too late to start. Even if you’ve been in business for decades, there’s no better time than today. Building a strong brand, whether you’re a local, national, or even global company takes time and consistency. If you’re willing to commit to those two things, your return can be infinite.

To get started building your company’s brand, contact us today to discuss your business needs and goals. We are happy to provide a free estimate and would love to help you create a strong, memorable company brand that will empower you to stand out among your competitors, attain more customers, and make more sales.

Thoughts?

We want to hear from you! What did you think of the article?