The benefits of branding are more numerous than you think if you’ve just opened a business this year. While you may have to work with a limited budget to get started, you should never skimp on branding just because you think your services are enough. No matter what industry you’re in, you’ll probably have hundreds of others doing the same thing. This only brings the problem of blending in with everyone else. See How Branding Can Help Your Business Carve a Unique Identity.
When the above occurs, it’s impossible to stand out, especially for online marketing. You may think everyone would come running when they see a generic logo of a popular service. Being unique is more essential, even if you bring the same services many others offer.
Overly crowded industries like plumbers, lawyers, or restaurants are particularly vulnerable to getting lost in the crowd. As such, stronger branding is mandatory for these businesses rather than going with a bare minimum.
So what are the additional benefits of using stronger branding? Let’s see how much of a unique identity you can create by looking deeper into your company mission.
Bringing Something Memorable
Opening a new business in an overly crowded industry requires creating a brand that people remember instantly. What’s important behind this is creating a name that people can easily recall. Don’t be overly generic, especially using your first name next to a common business title.
By using some play on words, create a cleverly short title and not something overly complicated. Most people can’t remember long business names. Creating a metaphorical name that serves almost like a mnemonic, the public can easily catch on.
The same goes for a logo with memorable colour schemes. It pays to study colour psychology and see which tones bring the best type of feelings. By mixing primary colours, you can come up with something different that inspires an emotion every time someone sees it again in your marketing.
Introducing New Products
Branding helps you find ways to introduce new products, as well as positioning them. Once you create a level of familiarity about who you are, a new product can tie in with your mission statement. This can occur through not only marketing content, but also in the packaging of your items.
Every brand should have a story behind it, and that narrative can directly apply to the products you sell. Remember, non-tangible elements can become a brand as well. An emotional story behind your business could easily have a visual aspect on the product’s package.
A simple image on a product wrapper or box could represent something none of your competitors come close to duplicating.
Building Value in Your Brand
All you have to do is look at major companies around the world and see how valuable their brands are. Some of them even re-branded and managed to become more successful than they were before.
By building a strong brand and living up to its ideals, you’ll bring substantial equity and perhaps become more profitable down the road. This includes possibly selling out to a major company to turn your company into an international contender.
Bringing Premium Quality and Prices
It’s true that consumers are willing to pay more for a product if there’s a solid brand in place. Despite being psychological, showing a sense of value behind your brand gives the assumption to a buyer that they’re getting quality. Colours can inspire this, especially through specific ones that denote opulence.
Think about this aspect and create a memorable brand this year so you create a premium image for yourself. No matter if your brand is only slightly different from others, you’ll have a more powerful message that you’re more relevant.
Contact us here at Red Lounge Agency so we can help you create a more memorable brand through graphic design.
Let us show you how Branding Can Help Your Business