Marketing experts harp on about branding all the time but as a small business owner you may be thinking… “Why do I need to build a strong brand?”. “Surely branding is just for big businesses”. “Why would I spend hundreds of dollars on a logo when I can create my own?”.
You may have read “Why is branding important for small business?”. This blog goes into a bit more detail around the benefits your business can receive when you build a strong brand.
Create Trust with Potential Customers
Think about it… Would you want to spend your hard-earned dollars with a brand you don’t recognise? Or put the safety of your loved ones in the hands of a business you’ve never heard of with no evidence of their track record? The more potential customers see and recognise your brand, the more they trust your business. Know + Like = Trust.
All strong branding will highlight the pain points you solve and provide social proof to back that up. When potential customers see that, it makes you more credible in their eyes and may just get them across the line with a purchase.
Improve Customer Brand Recognition
Wouldn’t it be wonderful if you were the first business that comes to mind when your potential customers need your product or service? This only happens with recognition. Recognition only comes about through consistent brand messaging.
Reach more of your ideal customers
A strong brand will identify who their ideal customers are in every piece of content they create. People are hard-wired to find their tribe. If your brand clearly communicates that you work with them, they will be attracted to your business.
Increased Word of Mouth Referrals
Humans can’t help but tell their friends and family when they have done business with a brand they are proud to be associated with. Build a strong brand that delivers on the expectations created by your messaging and the referrals will flow in.
Strong Brands Attract the Right Employees
Quality employees want to work with a brand they know they can trust. They want to be proud to tell people who they work for. But most of all, they want to work with a brand that shares their values. If your brand communicates your values clearly then you will attract employees that will share those values and everyone wins!
Increased Customer Loyalty
Customer loyalty is the holy grail of business. If your brand continues to deliver consistent messaging, service and quality then why would your customers go elsewhere?
Strong Brands are less susceptible to outside influences
Strong brands can withstand global crises, market downturns and all sorts of other outside influences. Why? Because their customers are loyal and people believe them to be more stable.
Increased Collaboration Opportunities
Other businesses want to work with strong brands. Collaboration happens when two businesses share target customers, values and brand strength. Nobody wants to align their business with another business that is poorly perceived. The stronger the brand, the bigger the opportunities.
Increase in Perceived Value
When you build a strong brand, trust is high and positive word of mouth happens naturally. A wonderful by-product of this is that customers may perceive you as being higher value that your competitors. This can create opportunity to charge more for your products or services!
If this doesn’t convince you that it’s worthwhile building a strong brand then I don’t know what will!
Need some personalised guidance with strengthening your brand? Get in touch for a no obligation 15 minute chat to see if we can help.