GREAT BRANDING KEEPS YOU TOP OF MIND
Great branding keeps you top of mind in two really powerful ways. First, if a customer is interested in your product or service but is not ready to purchase for whatever reason, a strong brand will set you apart from your competition and make your offerings more memorable for when they are ready to make a purchase. Secondly, strong branding makes a bold statement and will garner the attention of those who aren't even in your target audience. Non-hipsters drink at Starbucks and non-construction workers still wear Timberlands, but the strong branding of both of these companies tells these consumers what they can expect each and every time in terms of taste, style, and product quality.
GREAT BRANDING INCREASES AWARENESS OF YOUR PRODUCTS & SERVICES
Great branding is memorable. Ensure that your audience is aware of your business and the products and services you offer with identity design that makes it impossible to look away. Then, draw in your audience explaining what you do or make and how it can make their lives better. Talk about staying top of mind AND increasing brand awareness. Double win!
GREAT BRANDING POSITIONS YOU AS AN EXPERT IN YOUR INDUSTRY
Great branding will make you both look and feel legit. No more sweaty palms when someone asks if you have a website or if they can snag a business card. Great branding is about visuals of course, but that surely doesn't mean you can slap a great logo on an undeveloped product or lackluster service and call it a day. Instead, great branding is a combination of visuals and techniques that give your brand a unique personality and position you as the go-to in your industry. The idea is to create an identity around your biz that your customers can both relate to and rely on. The best part? When you're positioned as an expert in your field, you can charge more. Full stop.
GREAT BRANDING DISTINGUISHES YOU FROM YOUR COMPETITION
This one is a biggie. One of the major functions of a strong brand is to distinguish you from other businesses in your industry, especially if you offer similar products and/or services as them. Luckily you don't need to reinvent the wheel in order to create a successful business. If you're in a saturated industry where competition feels fierce, branding will be your saving grace. This is because when there isn't a lot of difference between a product or service, customers will be much more likely go to with the offering from a biz with clear, consistent offerings and appearance.
GREAT BRANDING INCREASES CUSTOMER RETENTION & LOYALTY
I'm going to tell you a statistic that is going to blow your mind: 80% of your future profits will come from 20% of your customers. Yes, you read that correctly. Great branding gets customers in the door and your clear, consistent presentation of your offerings, services, and brand personality will keep customers coming back for more. Because repeat business is such a huge source of revenue for the majority of small businesses, you definitely want to make sure you're putting your best self forward with intentional branding that makes your offerings clear, consistent, and appealing to your target audience. Customers will know what to expect from you and this in itself will keep you top of mind next time they are in the market for your product or service.