So what does this all mean? How can this information help your business in more specific terms?
Recognition will present a sense of identity to your targeted customers and clients. This identity is typically achieved through a logo. Your business' logo will be the face of your business. Often this face is the first impression that gives the client a sense of what your business is all about. A poorly designed logo may cause a customer to distrust the brand and the business as a whole. A well designed logo is crucial for brand development and recognition.
Creating an established brand identity can instill trust in a potential client or customer. Good branding can give the customer a sense of an established business, who knows what to do and exactly how to do it. Poor branding can give the customer a perception of a generic or fly-by-night operation, meaning, a business that cannot be trusted.
Establishing a brand presence for you business will instill in your employees a sense of value in the company. When employees feel as though the business has a sense of place and value in the market, they will more likely take pride in their work. They will feel a sense of loyalty and respect in the business that inspires them to work toward an even greater brand. A good employee does not merely look for a paycheck, but rather, a sense of fulfillment. A feeling as though their work matters and achieves something.
Branding and advertising go hand in hand. You cannot successfully have one without the other. Establishing a sense of brand identity will provide a cohesive and streamlined means for successfully implementing an advertising campaign. If the brand is established, or has the perception of being established, your strategy may have a stronger chance for success.
As discussed earlier, establishing a brand identity creates a sense of trust for your customers or clients. You may even find an increase in new customers who have been referred by your previous customers. With higher degree of branding and brand awareness, your customers might find your business more memorable and may think to mention it in conversation.
Establishing an identity as a brand will make your business more memorable. Some would even argue that with good branding, it can cause an emotional attachment to the product or service for an individual. One may hold a strong preference for a particular brand of clothing, or soft drink, over another even when the objective difference between the two is negligible at best. This is an emotional reaction, a manifestation of a person's loyalty to a particular brand.
Hopefully, now you have realized the importance and value of establishing a brand for your business. This can often be the outwardly perceived identity of your business and is therefore vital for running a successful company. Branding is the difference between a premium product or service, and its generic counterpart. With a high degree of branding, your business, and its product or service, could very well become the preferred choice within your particular market or industry.