In today’s market there’s an enormous amount of competition for business owners. Whether your entrepreneurial endeavors have led you to real estate investing, landlording, tax preparation, or flipping properties—standing out and effectively branding your business is paramount for achieving long-term success.
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Branding Your Business is Important
A business’s brand is far more than its logos and color choices; it’s your company’s entire identity—it’s personality, you could say. Your brand is what resonates with customers and builds consumer trust. It turns first-time buyers into repeat customers. And when done properly, branding gives you more control over how the public views your company.
Of course, branding your business has always been fundamental, but thanks largely to the growing presence of social media, it’s even more valuable. A 2021 study by Sprout Social showed that 98% of consumers surveyed planned to purchase something they saw on social media in 2022. If your business’s marketing strategy could use some work, there’s clearly no time like the present.
Here are three of the most significant ways branding can help your business.
1: It Helps Improve Advertising
If you don’t have a budget for advertising, you’re making a huge mistake. If people don’t know who you are or what you’re selling, how can you expect them to make a purchase from you? Sure, word of mouth advertising is great, but it’s certainly not something you can rely solely upon. In a day and age where people seek instant gratification for nearly every transaction, you need to be visible when people are looking for your services.
That being said, if you want to improve upon your advertising and marketing efforts, you need to work on building a reliable brand. You simply cannot have one without the other.
When creating advertisement campaigns for your business, everything should tie together and be representative of your company’s identity and core values. This can be difficult to do if you haven’t paid much attention to formulating your brand.
The verdict? Effective branding coupled with good advertising results in a more cohesive brand that consumers recognize.
2: Branding Generates Loyal Customers
Brand recognition is fantastic, but you don’t just want people to see your business and use it once, you want to cultivate loyal, life-time customers. Impactful branding humanizes your business, which gives consumers a better chance to relate to you rather than your competitors.
Proper branding appeals to people through their emotions, giving them a deeper connection to your business. A company that does this brilliantly is Bissell. Their marketing campaign calls to animal lovers by donating a portion of the sales from their vacuum cleaners to animal shelters around the U.S. What’s not to love about that?
Connecting with the audience on such a personal level is sure to obtain a loyal customer base that grows over time.
3: It Forms Consumer Trust
Having the trust of your consumers is arguably the most critical thing you can have as a business. It’s not always easy to get though, and a company that’s lacking in key areas of branding will find it even more difficult to gain customers’ confidence.
Think about it this way—you’re looking for a realtor to sell your home and you’ve narrowed it down to two companies. One is well put together and looks very professional, the other is all over the place with no clear branding strategy. Are you more likely to go with the first one or the latter? My money is on door number one and research shows most people agree. When asked, 88% of users say they are more likely to do business with a company that’s more authentic.
Simply put, businesses that miss the mark when presenting themselves to consumers are waving a giant red flag.
Want More Help Branding Your Business?
Time and time again it’s been proven that entrepreneurs who go the extra distance when trying to attract customers fare much better than those who don’t. Using branding to effectively communicate what people can expect from your company adds recognition, credibility, and trust to your business. One of the best things you can do to compliment your efforts is to hire a business mentor who has experience growing successful businesses and brands.
So, if you need help with your company’s branding strategy, it’s always a good idea to consult with a business expert to guide you through the process. I’m a successful entrepreneur with over a decade of experience helping people build brands and increase their wealth. Contact our team today to learn more about how we can help you.
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