3 Reasons Why Every Business Needs to Invest in Their Brand Identity
very business needs to understand the importance of brand identity. Your brand identity is what makes your company unique and creates trust with your customers. It's crucial for any successful business and should be given high priority. Here are three reasons why businesses should have a strong brand identity:
Stand Out From The Competition
In today’s competitive market, you need to distinguish yourself from all the other companies offering similar products or services. A strong brand identity helps you stand out by creating a memorable image that potential customers can quickly recognize and associate with your company. This could involve things like logos, slogans, colors, fonts, messaging, visuals/designs etc--all elements of your branding that come together to create a cohesive message and memorable impression.
Anecdotally, the way I’ve managed to easily distinguish myself from anyone else, in general, is by the fact that everywhere I go, pretty much anywhere I show up in public, I wear the same look, day in, day out. Black long-line shirt, black joggers, Nike Cortez and Black Blenders for shades, and, more often than not, a 3:16 Collection cap that says “Believe” on it. I even made a joke about this a few times on stage that my brand colors are Black and yellow.
I always wear black, asian people are classified as “yellow”, so I’m always in uniform. LOL.
Create Emotionally Connected Customers
Having a strong brand identity allows customers to form an emotional connection with your company, making them more likely to become loyal customers who will keep coming back for more products or services in the future. With this loyalty comes referrals and word-of-mouth marketing benefits which can help you grow your customer base exponentially. Furthermore, people tend to trust well recognized brands more than unknown ones as it gives them peace of mind knowing they are working with an established business with quality standards in place.
I often say that people work with or buy from people they know, like and trust. Nothing could be more true when it comes to brand identity. If you’re a personal brand, if you offer a product or service and your name is tied to it, you’re more than likely obligated to give more value to your customers than they pay for AND you’re even more obligated to continue to nurture the relationship with your past customers. If you do this and do this well, your customers are going to sing your praises and share with their family and friends about how awesome you are and how great your product is!
Another thing to consider is that if you’re public about your day-to-day, creating content, collaborating with other brands, businesses and influencers and your audience is seeing that you’re not just some faceless entity and that you’re a human being living life that they can relate with, this increases the likelihood that they’re going to be emotionally connected enough to want to work with you, talk about you, and refer you business!
Generates Credibility & Trust
When customers identify something inherently familiar about your company, such as its logo or slogan, it helps build their trust in the product or service being offered. Additionally, if you have done a good job implementing your branding everywhere -- from stationery items like letterheads and envelopes to websites, social media accounts and advertising materials -- then you’re giving off a professional and credible impression that will draw people in more easily compared than if everything was disorganized and confused looking.
Talking about generating credibility and trust… Something you can do, right now - if you’re a local business and haven’t already done so - is to get a google business profile and start collecting 5-star reviews for your business. Getting customer testimonials is a well-proven and long-standing tradition that helps businesses tremendously! Every time you do a consultation, discovery session, strategy session, completed a project, make sure to follow up immediately with asking for the customer to leave a five-star review!
Overall, having an effective brand identity is critical for businesses seeking success in today’s marketplace—it can provide a major boost when it comes to getting noticed among competitors while also helping build trustworthiness and credibility with potential customers. It pays off to invest time into crafting a cohesive foundation that properly represents your business—from mission statement down through corporate colors!
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