ARTICLE

8 ON BRANDING: Eight Ways Branding Contributes To Your Bottom.

As you think about crafting a brand image, from your brand identity, logo design to marketing programs, keep these branding benefits in mind. If you wish for your business to grow successfully, you need to create a solid brand strategy. One of the tangible starting points along your brand journey is making your company name familiar to others in the form of a brand identity, your logo – a unique mark or symbol.

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A logo is a seemingly small but essential part of building your brand image. When most people interact with your brand, they are almost always exposed to your logo. So, as you think about crafting a brand image, from logo design to marketing programs and campaigns, keep these branding benefits in mind.

  1. BOOST LOYALTY – Company branding can boost customer loyalty. When people have a good experience with a brilliant brand, they are much more likely to conduct business. It also raises the perceived switching costs – the negative perceived costs a customer incurs due to changing products or services.

  2. INCREASE FAMILIARITY – Branding imposes a significant impact on the minds of potential customers – and the general public. Branding improves how people feel about your company. Psychologists coin this the mere-exposure effect – "a psychological phenomenon by which people tend to develop a preference for things merely because they are familiar with them." As you promote a brand, you build familiarity and awareness, driving word of mouth and bottom-line results.

  3. DRIVE MEMORABILITY – A brand can improve a company's goodwill and reputation. Depending on the industry, it can be challenging for customers to search out specific products and services. However, a properly developed brand aids in recall and memorability; this includes the entire brand experience and a customer's path to purchase. "Because what people feel when they 'leave' your brand is what they'll remember and, more than likely, pass on to their friends. That will be their experience of your brand (Design Council)."

  4. BOOST RECOGNITION – Branding provides multiple incentives as well as improves customer recognition. For instance, a brand can be visually recognizable from its size, shape, logo, packaging, and other special features. Additionally, it may also be recognizable by using a famous sound or "personality."

  5. CLARIFY POSITIONING – An influential brand positions itself in the market by communicating product attributes to customers with customer needs, competitive pressures, and message delivery in mind. When customers connect with the benefits of a particular brand, the brand achieves excellent competitive advantages.​

  6. SUPPORT NEW LAUNCHES – When you launch a successful brand, you can quickly expand the brand by adding new products under the same family brand name umbrella. A solid brand will help you establish new initiatives with less hassle, as you rely on well-designed brand identity.

  7. BUILD BRAND EQUITY – Powerful brands reap financial benefits. The equity of your brand itself can grow to be extremely valuable. Such gains can be achieved during a sale, acquisition, merger, or licensing agreement, to name a few. Simply put, developed brands can conduct transactions at a higher price tag.

  8. LOWER MARKETING EXPENSES – At the starting stages, you have to invest in your brand. Once created, you can maintain it and reap the benefits. A recognizable and thoughtfully crafted brand can exert much less effort when marketing products and services.

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