A brand isn’t just a logo or a tagline, it’s a combination of the perceptions that holds business, products and services together.
A strong brand improves recognition, trust, loyalty, financial values and stronger supports in all marketing aspects. So what exactly creates a good brand?
Our answers is everything.
A brand often represented by people’s perception and typically this is interpreted by the business culture, the products you sell, the services you delivered or all together. None of these can be delivered without the other, they are bounded to one another if you want to deliver the perfect brand experience.
Let’s look at 6 important ways how a strong brand plays an effect on your business.
- Brand improves recognition
One of the biggest and most important things to have in your business is recognition, a logo is one of them, it acts as the “face” of your business. So the design of a logo is imperative because that simple identifier will be on every piece of your correspondence and materials related to your business.
A professional logo design should be simple enough to be memorable, but dominant enough to leave a permanent impression of your business. Think of the big yellow “M”, you’ll immediately think of McDonald’s, when comes to social network, it will be Facebook or WeChat.
Just as people are more likely to purchase from a business that appears legitimate and professional, we all need to feel comfortable before committing into any contracts or agreements.
Think of the bitten apple, it shows on every simple product on a plain piece of material. Apple has created a strong brand identity across their entire business portfolio, laying it from products to services. When you walk into an Apple store, the staff’s T-Shirts are all uniform, black shirt with Apple logo. The purpose of this is to create an easy to recognised identity, the logo.
Customers or passerby who encountered the logo can easily identify the business as a trusted Apple reseller or centre. In addition, the logo is a trademark by Apple which protects the business and their customers from fraud. To continue establishing credibility, the business provides excellent customer service and easy to use products, benefiting the consumers again, further creating credibility to the brand.
- Brand develops financial value
Companies on the stock market are valued at many times of the actual capital of the company. Most of the value is due to the branding of the company. A strong brand often guarantees future business.
Whether the company is in the position for expansion or IPO, being perceived as more valuable will make the process advantageous for the owner. The greater a company devoted to build its brand value, the better the financial return from its effort. A unified and consistent brand development covered 3 points, discovery, analyse and develop.
Here’s a case study, in the year of 2006, preparation of financial crisis, Ford announced it would mortgage all assets including the patents and blue oval trademarks, raises them $23.4 billion in cash, allowing the company to progress and restructured through 2009, at the end of 2012, Ford Motor Company’s cash balance was $22.9 billion and was listed as ten of the list US non financial corporation sector’s top ten cash kings by Moody’s investors service in 2013.
- Branding builds loyalty and win customers
Strong branding generally means there is a positive impression of the company, which likely means the next time when you have a new product or services, it is easier to sell and takes lesser time to convince your customers to buy.
A well established brand can easily maintains customers loyalty, a good brand will make it easier for you to win referral business easily via word of mouth.
- Brand supports Marketing
Marketing is another important component to your brand, the targetted demographics to support your marketing will be more effective with a well established brand. At the same time, without marketing, it is more difficult for your brand to reach out.
So how do you kickstart?
There are many ways to build a strong brand presence, feel free to reach out to us, we can help you!