Your brand is more trustworthy than your business. Wait, what?
Yes, you heard that right. The ability of a brand to build trust is more important than, as a consumer, trusting a business.
With a consumer having such a strong preference toward trusted brands, it’s more important than ever to ask the question, what is branding? More importantly, why is a strong brand identity important?
Listed below are the reasons why having a strong brand is a must. However, we must also be clear about what is brand identity and what makes it a strong one. Plus a sprinkling of overall branding tips here and there.
Without further ado, let’s begin!
Defining Brand Identity
So you’ve heard a lot about brand identity and how it’s important to the success of your business. Before you can appreciate its role in your marketing mix, it’s crucial to understand what exactly the term means.
What is brand identity? It is a combination of elements or tools that work to produce a brand image. This is a picture in consumers’ minds that reflects what they think of the brand based on what they have seen or experienced of it.
A brand identity can be created from different things, such as its company’s mission, the brand’s value proposition and competitive position in the market, its long-term goals, and so on.
These things are at the core of branding and describe all the things that the company wants to relay to the market. A brand identity can also be composed of elements such as a brand name, tagline or slogan, graphic style, logo, voice and tone, and a typeface.
Characteristics of a Strong Brand Identity
It’s easy to talk about brand identity, but it takes solid knowledge to know what makes it a strong one. Below are the characteristics of brand identity that makes a real impact on people’s buying decisions:
Brand Position
This describes what the company does and for whom, what makes its product unique, the benefits of the product, and what sets it apart from competitors.
Brand Promise
This is what a brand promises to give consumers every time they experience the product.
Brand Personality
This is the humanized part of a brand that reflects characteristics – for example, reliability, authenticity, etc. – that consumers should remember about it.
Brand Story
This is a narrative about the company’s history and how this makes the product more valuable and credible.
Brand Associations
These include the physical artifacts that compose a brand, such as its logo, imagery, fonts, taglines, etc.
Why Is a Strong Brand Identity Important?
A strong brand identity is important for several reasons, but they all ultimately work toward one goal: increased sales. Let’s take a look at each of those reasons so you understand the value of each one and avoid the mistake of taking anything for granted.
Projecting Stability
When people see that a brand is consistent, they get the impression that it is professional, established, and worthy of their business. A strong brand identity convinces consumers that the company is reliable and credible.
Increasing Customer Retention
A strong brand identity helps you retain your customers because it sends a signal that you are consistent and therefore reliable. A weak brand identity will do the opposite – it will give you a lose grip on your customers.
Put simply, people can be easily won over by your competitors. To keep your customers, maintaining a strong brand identity can do wonders.
Building Loyalty and Trust
A strong brand identity is important because it builds loyalty and trust. Customers who know what to expect from a brand are more likely to stick with it, even when there are other options available.
A strong identity also makes it easier for customers to recommend a brand to others. They know they will not be embarrassed because a good brand is very clear and accurate about its promised benefits and commitment to customer satisfaction.
Becoming Memorable
It’s no secret that first impressions are important, and that’s especially true when it comes to business.
In a world where consumers have so many choices, it’s important for businesses to have a strong brand identity that makes them memorable.
Standing Out Among Competitors
Businesses are constantly fighting for attention, making a strong brand identity more important than ever. Consumers are bombarded with marketing messages every day, so it’s crucial that your brand stands out from the competition.
Competition is healthy, but you have to define yourself against your competitors effectively. A strong brand identity will make your company more memorable, trustworthy, and engaging, giving you a significant advantage over your rivals.
Pride in Identity
With a strong brand identity, you are telling the world that you are proud of your product and that you are committed to making it the best for your customers.
It also convinces customers that they can rely on you to deliver on your promises because you have invested a lot in your brand. When a company does that, it often means that they are as committed to maintaining a high level of quality.
Attracting New Customers
A good brand is more capable of attracting new customers because of the credibility it projects. Numerous studies have shown how branding can impact purchasing decisions.
A product that is packaged attractively, for example, is more likely to get purchased than the one that is not.
This is why successful companies invest in their packaging. They know that branding can make or break their chances of getting new customers and even retaining old ones.
Successful companies also make sure to work with branding experts such as the ones from https://dpdk.com/. By partnering with the pros, you are more assured of a stronger brand identity.
Conclusion
So why is a strong brand identity important? There are many reasons. It can help to build trust with customers, and create loyalty and repeat business. It can also help to differentiate your company from your competitors and make you more memorable in the minds of consumers.
It gives pride to the brand and helps it attract more new customers or keep the old ones. Ultimately, having a strong brand identity leads to increased sales and brand equity, which is what all business owners want.
Are you happy with what you learned in this branding guide? Dig in to find more informative posts in our blog! We have plenty.
