The Importance of Brand
There are 2.3 million active businesses across Australia each fighting over the same 25 million people. If your business is to have any hope of standing out amongst the crowd it needs to have a strong brand. In fact, Eric Schmidt, the ex-CEO of Google, says that “Brands are the solution, not the problem.” He knows that building a brand is what allows you to stand out in the increasingly crowded online world. But what specifically are brands good for?
Touched on lightly just before, building a brand for your business allows you to be more recognisable. Think for a second of the supermarket potato chip aisle in Woollies. There are so many options, with so many different flavours vying for your attention. But which one do you pick? How would you know that the Twisties were Twisties is it wasn’t for their electric yellow packaging and classic slogan? If Twisties didn’t have a solid brand then how would customers who saw them in an advertisement, thought they would give them a go and are now looking for them, find them? Especially amongst all the similar home-brand offerings. Because they have built such a strong brand all a customer needs to look for is that electric yellow and they are done, walking past all other types of chips. This goes beyond the supermarket too. If your business does not have a brand, then how would a customer be able to recognise your product or service in the real world after seeing your ad?
Brands tend to generate trust and provide a rallying point for customers. Say you run a tea company; you sell some creative and fantastic tea variants. Thanks to a well-built brand and marketing campaign you have established an image of high-quality tea with creative flavouring. You have a strong brand image across your products, making you easily recognisable and your image professional. Your customers will feel comfortable branching out and trying your other products or referring friends because they trust that your products will stick to that reinforced image. A business that has not reinforced an image through consistent branding may struggle to expand or encourage customers to try their other products. There would simply be no trust in the brand’s consistency from the customer’s end.
Branding is great for SEO
Google loves brands. In the age of fake news, Google is trying harder than ever to ensure that information provided is factual and trustworthy. On top of this, they are expanding their own personal brand as a source of good quality information. Currently, Google is expanding its smart cards, in search, that answer a searchers query without them ever needing to click on an organic listing. An interesting note about these smart cards is where they get their information from. Is it always those who rank #1? No. Google is looking beyond the first rank and instead is looking for a reputable brand. It is now more important than ever to ensure that your website and its content have a solid brand that your customers will recognise and go to. Searchers love a brand so Google does too.
Branding inspires employees
To look at the inspiration a brand can have on its employees look no further than Google’s own employees. Google’s employees are very passionate about the company and its image, proudly waving Google’s logo around whenever they can. They all encompass particular values that the company trumpets in its branding. Google’s brand inspires them and provides them something to work towards in all of their products. Just look at their products, they are all fun, funky, filled with bright colours and are generally overall happy. That is the brand image Google has built, and so, its employees rally behind this ensuring the entire company’s product range holds this brand image in abundance. It isn’t even just larger companies that can benefit from this too!
Branding adds value to your company
A company with a strong brand ends up worth far more than the sum of its parts. Don’t believe me? Well, look at Tesla. They have factories, advanced technology and lots of cars sure, but is their valuation really equal to the sum of all their parts? No, and this is something that is consistently stated by Wall Street analysts who are baffled by Tesla’s valuation figures. But it is fairly obvious why their valuation is so high. Brand. Tesla is able to draw in hundreds and thousands of pre-orders on a product that no one really knows the release date of with bare minimum marketing just because of its brand power. It has built a loyal following that is constantly growing as its cars get in the hands of more people. This fanbase and brand recognition is why Tesla has such a high valuation. Obviously, Tesla is a unique case in the sheer size of its brand power, but you can look at many other strong brands and see the similar value add branding has on the company.
Building a strong and consistent brand is incredibly important to any business’s success. It is vital to brand recognition, building loyalty, and is now incredibly important to SEO. If your company doesn’t have a brand, then it will be very hard for it to be able to stand out in a world filled with companies that do.
If you need help building your brand contact Link Pixel now!