The main benefit of branding is that customers are much more likely to remember your business. A strong, well designed and planned brand name and logo/image helps to keep your company image in the mind of your potential customers.
If you sell products that are bought on impulse, a customer recognising your brand could mean the difference between no-sale and a sale. Even if product is new to the market, trust in and knowledge of your brand is likely to overcome fear of new or unfamiliar products. A brand helps to build customer loyalty across your business as long as the products sold retain the trust the brand has developed.
A strong brand will be memorable and therefore project an image of a large and established business to your potential customers. People usually associate branding with larger businesses that have the money to spend on advertising and promotion. If you can create effective branding, then it offers you the opportunity make your business appear to be bigger and maybe more established than it really is.
Having a strong brand, which delivers this image of size can be a key factor in reassuring clients and prospects of you longevity of business now and going forward.
Many people see the brand as a part of a product or service that helps to show its quality and value. Branded goods and services will always demand a higher premium and a stronger following and acceptance than unbranded goods.
To build the image of quality takes times and effective branding, and of course positive customer experiences – bad publicity will always damage a brand – the reason the celebrities are dropped from commercials when they have acted not in accordance with the brand values.
Experience and Reliability
A strong brand creates an image of an established business that has been around for long enough to become well known. Most people will believe that a business would be hesitant to put their brand name on something that was of poor quality.
If you have a strong brand, it provides you with the ability to launch new products and new ranges with more ease, utilising the brand loyalty already built up. You can put your brand name on every product or service you sell, meaning that customers for one product will be more likely to buy another product from you.
You can also create a tiered brand for your company, using separate brand names for your product ranges, allowing people to see overall brand name, and then use the range brand name to work out what they wish to buy.