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This post was last updated 3 months ago by Yusuf Odukoya.
Hello there :), I’m sure you must have heard a lot about branding and brand identity by now, eh?
For ages, businesses have used branding to give their products and services a unique identification and feel.
This process may involve having a specified name, symbol or even an image or mascot that acts as a unique identifier.
You May Want To Read: Naming A Brand — Top 6 Factors To Consider
Ever wondered how investing in effective branding can turn your small business around and for the better?
Here are some ways we’ve outlined for you:
1. Branding – All About Identity
You know how people always remember what brand of soap, washing powder and chips they like best? And repeatedly purchase them afterwards?
What if those products were brandless? That would make repeated purchases extremely difficult or almost impossible.
Branding solves this problem by making you a recognized force in the market. To a large extent, branding also helps to protect your product from counterfeiting.
Branding helps you identify, target and effectively connect to your audience at a deeper level.
It helps to make your product associate itself with a particular market segment.
Keeping consistent branding techniques also fosters assurance in your standard of quality.
You, should not put the loyalty of your audience to test by staying brandless, as this leaves more room for others to impersonate your particular catalogue and sell off products of inferior quality by being unreasonably as close to your products as possible.
Should you decide to stay brandless, it is going to remain difficult for your customers to tell whether or not “your” product is from an authorized source.
And since counterfeit products may cause harm or bodily injuries to consumers, you could land yourself a legal problem that may cost you thousands of dollars and your entire business.
The word ‘attractiveness’ is defined by the Oxford Dictionary as “the quality of being pleasing or appealing to the senses”.
This word may have a lot of implications, but in this instance, it refers to making your target audience market not only accept your brand but also find it appealing altogether.
Some customers go to great lengths to avoid brands that look too shabby or grotesque.
A brand slogan should use unique, fancy and catchy words that are common and also colloquial to your audience.
Images and symbols should use alluring designs and colourations that not only look good but psychologically compel consumer action.
Every human being on the face of the earth most probably have a name or means of identification to go by.
Products and even services should have unique identifiers to enable them to be noticed as a singularity in their target market. Noticeably, manufacturers with a large catalogue of similar products e.g. Coca-Cola, still have different brands of the same product with each distinguished factors e.g. Coca-Cola Original, Coca-Cola Zero, Coca-Cola Vanilla, Diet Coke, Coca-Cola Life.
Branding and packaging give you a means of adding personal information, notice messages and even advertisement for related products.
You can add self-service instructions and your contact information to assist customers who struggle with using your product.
When customers are used to getting quality from a particular brand and are assured of committed after-sales support, they definitely find that product reliable and this creates brand loyalty.
According to Skyword.com, brand loyalty is the tendency of consumers to continuously purchase one brand’s products over another.
Consumer behaviour patterns demonstrate that consumers will continue to buy products from a company that has fostered a trusting relationship”.
I deliberately saved the best for last!
Yes, creating a recognized brand takes time, effort and a reasonable amount of resources.
Some entrepreneurs may believe that branding is unnecessary, as it ultimately doesn’t affect the overall quality of a product.
While this may be true to some extent, it is an obvious fallacy as research has proved that customers would stick with a brand they can identify and have a relationship with.
This builds up to enable more repeated and bulk purchases and depending on the niche of the brand, impulsive buying.