Not so long ago, I attended a conference and exchanged business cards. As we were chatting, I knew we had spoken before because I remembered his name with his company and he remembered my logo. Not sure when we initially made our first connections, but the distinctions each of us had within our own brand was memorable enough to trigger the connection.
By creating a distinctive and durable perception in the minds of consumers, whether persistence, uniqueness, personality, origin, or whatever attributes, you will see how your growth will be represented. People almost always associated with brands with large companies. The smallest of companies can utilize branding techniques with obvious rewards. Simply a homemade product with a handcrafted tag tells the story of an individual making specialty products with her own brand. Too often we think of brands like Colgate, Coke, Huggies, or Lays with costly budgeted resources.
Techniques to branding include associates with logos, slogans, specific colors, musical sounds, songs, mascots, a memorable name, and so much more. Each business will find its own special way to brand and make them memorable and you will too! The effort, time, and money spent on branding comes back many times over.
Benefits of Branding
Memorable
It’s easier to remember a branded company
Loyalty
Positive experiences with a memorable brand is more likely to give way to repeat customers.
Familiarity
Psychologically speaking, familiarity induces a sense of liking which can help with prospective or non-customers recommending your product
Premium Brand, Premium Price
A good branding product can yield potentially higher prices by pushing your products or services to higher demand
Extensions
Established brands can spread respect and recommendations on new products or services more easily in various market segments
Lower Marketing Expenses
A recognizable brand doesn’t need to invest a lot of money to continually push product or services since it is easily recognized
Consumers- Less Risk
Consumers tend to use brand name suppliers because they know the product or services entails and don’t want to waste time or money or a product that might do what is expected
These are just some of the many benefits of branding. Ultimately the most important benefit, not outlined above, to branding is how it increases your bottom line.