We often hear from marketing gurus that branding for companies is important. When I first encountered this word, I thought that anyone in the company can do this. You just think of a logo for a product or a company and there you go! You already have branding.
But after learning from the experts themselves, I now know that branding requires extensive research both externally and internally. This means that you have to make an effort to study the market and classify your own company.
Here are the benefits of good branding?
Easily recognizable brand
Whenever you walk along the streets of a busy city, you will see recognizable popular brands like McDonald’s, US Polo Assn, Tommy Hilfiger, and Abercrombie & Fitch. Even if you do not see the actual name of the company, you immediately identify what it is.
How can this help you? If you are a fast food chain, people can see and go to your restaurant even if they are still miles away because of your brand. You can print your logo on your products and your merchandise and your brand will easily be distinguished from other manufacturers.
Gives you more sales
When you have created a recognizable and prominent brand, customers who buy your products would always want to display your brand to others. Because you already have a unique brand for your company, it will be easier to use it as a selling point. Even if you do not issue special discounts for your products on online shops like Lazada and Zalora, people will flock and buy your brand.
Even new products sell like pancakes
As you establish and get more recognition with your brand, you are now banking on it to sell your newly created products. You are not selling products anymore. You are now retailing your brand. People want to have any product that has your brand. They care less about the features but more of just owning and buying your products.
A strong brand gives you credibility and integrity. Your brand separates you from the pack. As it gains more recognition and positive feedback, more customers develop loyalty and you are being known as a trusted company in your industry.