[Part 4 of 5] 6 Compelling Reasons To Invest In Branding
In part 3, we look at two reasons that will help to improve your company's capability to grow its revenue. Today, we dive into two more reasons of how branding help businesses thrive.
Reason 4 - Saving Time & Cost On Marketing Efforts
Branding significantly increases the effectiveness and efficiency of your marketing efforts.
Trying to market an undefined and inconsistent brand with poorly articulated benefits and messages is like standing in the middle of nowhere and shouting out what you sell. You aren’t sure how to present yourself, why you think this is an optimal spot, what you are shouting engages, and if shouting is the best method to gain awareness.
Through the process of branding, aspects of your business are examined in detail in order to propose the appropriate solutions to address the issues.
Defining what your brand is akin to knowing how to present yourself to the your target audiences. Knowing your target audiences enable you to focus your marketing efforts on platforms that have the best chance of reaching out to them. Together with your vision and brand insights, you are able to craft relevant and consistent branding messages that engage. These lead to time and cost saved by eliminating trial and error experimentation.
Branding provides a valuable aspect in business: consistency. With the brand style guidelines, brand touchpoints have a reference to ensure cohesive marketing efforts. Every touchpoint requires consistency to develop synergy, which reinforces for maximum impact from a marketing effort. Your internal marketing team or marketing partner will appreciate the benefits greatly as they can focus their time on ideation of marketing campaign instead of contemplating whether the art direction is aligned to your brand.
Reason 5 - Boosting Credibility
Let's take a look at the definition of the terms "Credibility" and "Trust" as cited from Oxford Dictionary. It is important to know the nuances between the two.
Credibility The quality that somebody/something has that makes people believe or trust them.
Trust The belief that somebody/something is good, sincere, honest, etc. and will not try to harm or trick you
A credible looking brand is the first step to earning trust from your prospective customers. Similarly, a dated looking website with incoherent messages will develop skepticism in their minds. In addition, if the product packaging is poorly designed, customers might question the legitimacy of the business. Simply put, if they have to spend effort to convince themselves to try your products and services, your brand’s credibility can definitely be improved.
The process of branding involves work on the areas mentioned above. Every touchpoint is designed with the brand purpose and values in mind to convey a sense of credibility. It encourages your customers to believe in your brand and use your products and services. Certainly, earning trust requires proven results over time but credibility breaks down a certain level of distrust in the beginning and provides the brand an opportunity to engage its prospective customers. This opportunity is especially valuable in our current digital climate where the market is crowded with alternatives. Branding empowers your business' credibility which boost the overall confidence of your prospective customers to use your products and services.
To sum up, branding saves time and cost by reducing the amount of trial and error experimentation in marketing efforts and boost credibility of the business by improving the sense of legitimacy. Two additional compelling reasons for businesses to invest in branding.
Stay tuned to the final reason in our conclusive [Part 5 of 5] 6 Compelling Reasons To Invest In Branding!
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[Part 1 of 5] - Introduction + Definition of A Brand [Part 2 of 5] - What Does It Mean To Do Branding + Attracting Your Ideal Customer [Part 3 of 5] - Closing Sales Efficiently + Increasing Value Of Your Products & Services [Part 4 of 5] - Saving Time & Cost On Marketing Efforts + Boosting Credibility [Part 5 of 5] - Growing Your Brand Equity + Conclusion + Summary
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