Benefits of Branding – Discussions With Entrepreneurs When I Volunteered 2000 Hours For The Dallas Entrepreneur Center At The Addison TreehouseEli Logan2020-10-20T11:42:04-05:00
Your business needs to create a positive image in the minds of consumers. Contrary to what most people believe, branding isn't just a logo. Your businesses purpose, focus, and image all combine to create your brand. Why should you make this effort? Below are a few benefits:
*You are remembered. It's hard to remember a company with a generic name. You may not be able to distinguish their purpose and business focus. And why would you call a company if you couldn't tell what they did? Branding your business ensures consumers will know what you're about.
*You gain customer loyalty. The fact is, people build close bonds with brand identities. Consumers want quality products they can trust. So, your business should have an identity that your customers can cling to. If your company delivers great products and services and has a great brand identity, people will remember you. In addition, they will often refer you to friends and family.
You become well known. You want the people who have not done business with you to still know who you are and what you do. If they see your ads on billboards, hear them on radio, see them on television, or any other media, they will know your brand identity. And when the time comes that they need your product or service, your company will be the first to come to mind.
Consumers pay for image. We are a very brand aware society. People commonly associate brand names with quality and may only buy certain brands for that reason. If people only want one brand of a particular product, they are willing to pay a higher price. Having a great brand will make your company have a superior image and cause consumers forget about the competition.