In this 16th episode, Lekan Lawal takes us to the world of branding to deal with the importance in a 2-part series. Most, especially as it affects our business.
Branding, is defined, as a marketing practice in which a company creates a name, symbol or design that is easily identifiable as belonging to the company. This helps to identify a product and distinguish it from other products and services.
One of the importance of Branding is because not only is it what makes a memorable impression on consumers but it allows your customers and clients to know what to expect from your company. It is a way of distinguishing yourself from the competitors and clarifying what it is you offer that makes you the better choice. Your brand is built to be a true representation of who you are as a business, and how you wish to be perceived.
There are many areas that are used to develop a brand including advertising, customer service, promotional merchandise, reputation, and logo. All of these elements work together to create one unique and (hopefully) attention-grabbing professional profile.
Why Is Branding Important?
Branding is absolutely critical to a business because of the overall impact it makes on your company. Branding can change how people perceive your brand, it can drive new business and increase brand awareness.
- Branding Gets Recognition
The most important reason branding is important to a business is because it is how a company gets recognition and becomes known to the consumers. The logo is the most important element of branding, especially where this factor is concerned, as it is essentially the face of the company.
This is why a professional logo design should be powerful and easily memorable, making an impression on a person at first glance. Printed promotional products are a way of getting this across.
- Branding Increases Business Value
Branding is important when trying to generate future business and a strongly established brand can increase a business’ value by giving the company more leverage in the industry. This makes it a more appealing investment opportunity because of its firmly established place in the marketplace.