Why you Need to Brand Your Business

Let's kick off our three-part series on branding by talking about why you need to brand your business!

When people hear the word branding, they assume it means developing a logo. In reality, designing a logo is only part of the battle. Branding is more than just a logo; branding is establishing your identity and the image you want to present to your customer. In short, your brand embodies everything you are and how you want your customers to perceive you. So why brand your business? Read on to learn the three reasons why we believe you need to brand your business now.

Set Yourself Apart from the Rest
With so many businesses today that offer relatively the same services or products, it’s hard to stand out above the rest. That’s where branding becomes crucial. When you brand your business, you’re not only setting yourself apart from your competition; you’re also showcasing your differences from those competitors. For example, one of the latest trends is subscription boxes that come monthly or semi-annually, such as the FabFitFun box. There are a variety of subscription boxes that offer similar products to FabFitFun, but what sets them apart from the rest is a very recognizable brand which they display across multiple channels.

Customer Loyalty
Most people have at least one brand, if not more that they’re faithfully loyal to. Whether it’s a clothing store or brand of coffee, you will choose this brand over any other. When it comes to phones, most people’s loyalty lies with Apple or Samsung, and they rarely ever stray from that brand. Why? Well, you can tell yourself it’s the phone’s specs and features, but a lot of the time it all boils down to the brand of the product. As customers, we develop an emotional attachment to that brand, which will keep us coming back to that brand and the new products they produce.

Creates Brand Recognition
Sure a logo creates brand recognition, especially when we think of the McDonald’s golden arches, but having a strong brand identity is just as powerful. Think of a brand that you love, what comes to mind? For example, when I say Tim Hortons, what do you think of? Likely you automatically associated it with coffee, doughnuts, maybe even Timbits Hockey. We also tend to associate Tim Hortons with our identity as Canadians, and with a love for adventure and sports (did I mention hockey?). When you brand your business, you are creating something for your customers to remember and recognize you by.

Great branding is key in the process of creating your identity as a company and developing a loyal customer following. Once you brand your business, you will only reap the benefits from it. Good luck on your journey in branding your business and keep an eye out for our next post in this series, The Key Components to Branding!