As a new business, the thought of choosing the correct marketing strategies to successfully promote your business can be daunting, but branding can have a big impact on how your company is received. Simply, branding is how the customer views your company. Their first impression of the ethic, product, and quality of customer service all lie in the first look at your logo or advert. Where many small start-up businesses fail is not understanding the importance of branding, and how crucial it is to attracting and keeping customers.
The most important reason to create a strong branding campaign is to gain recognition. When you think of global companies such as Coca-Cola or McDonalds, the first thing that comes to mind is their logo. Branding goes much beyond just a logo, but it is a strong starting point. Especially for customers, a recognizable brand makes it more comfortable and familiar, so they are more likely to buy your product because it feels safer than risking a new product from an unknown company.
Similarly, to recognition, branding can build trust and therefore regular customers. Branding is all about how the customer sees you and your company mission, so having a trustworthy and reliable campaign will buy you the loyalty of consumers. If your branding is strong, then the client will know what to expect from you and the product or service, so they can feel more confident when buying from you. Trust is also the best way to market the company through word of mouth, which in some cases, is the best way to upscale from a local business to a global brand.
Sets You Apart
In today’s growing economy, it’s no longer enough to have a decent product and a local market – for a business to become nationally or even internationally successful, it needs to be set apart from the rest. For some companies, they can find a gap in the market, in which case, they can promote themselves through the unique product. However, for a small business without a quirky new item, strong branding is definitely the way to set yourself apart.
Opportunities for Investment
After a company has become well-recognized and trusted by customers, the next step is to look for investment from larger corporations and from stocks and shares. The way to promote yourself to these people is, yet again, compelling branding. The way your brand appears is not only important for attracting customers, but also for appealing to investors. Once a brand has become successful, these companies don’t look for a strong marketing campaign, but instead for a well-trusted brand who will gain more customers because that will make them more money.
Branding isn’t just for the short term. It can affect the decisions of investors and customers well into the future of your business. However, branding is one of the first things you should consider when entering into small business ownership, as it will gain the trust and recognition of customers, and can boost your marketing campaign. And for a new or growing business, it can be the difference between a failed idea and a nationally-recognized company.
Contributors: Salman Jogiyat, Moosa Jogiyat, Mothusi Sebape, Sufyan Jogiyat, Saleha Jogiyat, Ryan Ally, Ali, Justin Ramroop, Abid Patel, Daniyal Bakharia Hasna, Amir Sufyan, Dada bhai, SadiZalloum