5 reasons to invest in your branding
Did you know that brand perception can actually impact performance?
A recent study showed that if people thought they were using a product from a famous name brand (Apple), they reported better product performance than people using the same product who didn't know anything about the brand. That’s how strong branding is: if you think you're using a product from a well-known company, you actually think the product works better.
So how does this relate to small businesses, exactly? Essentially, if your branding is slick and presents a strong image, your customers will perceive your product or service as higher quality, too. If you're trying to build a successful business, great branding is a must. It shows your customers you take yourself and your business seriously - so they should, too. If you’re not convinced you should take the leap, here are five reasons why you should invest in professional branding.
1. Build brand recognition
It’s a noisy world out there, and your business needs to stand out. You want your potential customer to recognise you when they come across you in a shop or on social media, because we're more likely to buy from the brands we've seen before. As industry leader Interbrand points out, “the less the seller is recognised along the customer journey, the more the risk increases for the buyer to buy from someone else, especially if the offers are similar.” These days, chances are there's someone out there offering exactly the same thing as you, no matter how niche. That’s not a problem per se, because there's more than enough room for everyone, but you do need to make sure you stand out. A good designer will ensure you've got branded assets to use across your website and social media, increasing your chances of building a recognisable brand through consistent touch-points.
2. Gain trust
If people don't trust you, they're unlikely to buy from you. Trust is earned, and one way to do so is through enlisting a professional to help you build a strong brand. When we buy something, we’re swayed by our perception of your brand. Do we think you'll provide a good service? Do we think you're up to the job? Do we think you’ll understand our unique business? Your branding can help allay your potential customers’ concerns. Every time we interact with a brand, whether that's online or offline, our brains are subconsciously forming a perception of that brand, which will influence whether or not we’ll buy from them. Consistent messaging is just one way of building that trust, along with presenting a professional front, providing testimonials and case studies, and answering questions from potential customers quickly.
It’s not rocket science - think about the last time you bought some makeup. If one mascara comes in a beautiful sleek tube, whilst the other is cheap-looking and covered in garish colours and mismatching fonts, you’d most likely go for the first option, because you'd trust it more.
3. Attract the right customers
Your branding affects the type of people your business attracts as customers. If you're going for a corporate audience, an emoji-covered brand identity won’t do the job. Similarly, if you’re aiming for Gen Z, ultra-formal language and muted colours are likely to be a turn-off. Professional brand designers are experts at matching the branding to the intended audience, which will help you attract your ideal customer base who’ll be more likely to buy from you. Branding is all about making your customers feel a certain way, and for it to be successful, you need to know what you're doing. Colour psychology, for example, comes into play. The colour red signifies strength, excitement and love, while purple represents spirituality, ambition and luxury. Working with a professional will ensure your branding looks great but also works at a deeper level to help you attract those dream customers.
4. Charge more for your product or service
If you're looking to command a premium price for your product or service, professional branding is a must. As Forbes points out, “when you have a powerful brand attached to your products or services, customers will know they're getting a quality item and will be willing to pay higher prices.” And it's not just about charging more either - it's also about making your sales job easier: “with a great brand, you’ll have to do less convincing to sell.” Want a clear example? Branding is the reason why we like buying name-brand products, even when the generic version is significantly cheaper.
5. Feel more confident as a business owner
Running a business means putting yourself out there on a daily basis. It can be intimidating, especially if you're new to the scene and feel like you don't know what you're doing (hint: no one does!). Investing in professional branding is a surefire way to help you feel confident in your business, and in putting yourself out there to spread the word. Mindset also plays a major role in business, and having professional branding reminds you that you value yourself and have faith in your new idea. You're very much worth it!
