Importance and Benefits of Branding for a Business

February 21, 2019

What a Branding Agency can do for You

The buying behaviour of consumers has changed a lot in recent times. Most of the products and services purchased by the customers are those that are approved or endorsed by their friends and peers. A big role in this endorsement is played by clever way products are marketed by companies. Branding is one of these marketing techniques that helps in creating a unique identity for the product.


Brand is Invisible Power Behind a Product

It is difficult to define branding, but it certainly helps a company in setting its products apart from those made by its competitors. In the words of Jeff Bezos, the world’s richest man and the owner of Amazon, a brand is literally what people say about your business when you are not in the room. Branding has the power to arouse emotions and it makes sure that a customer picks up his preferred brand from the shelf in a mall or store when he has many choices in front of him.

Invisible Branding
Branding is Invisible

Why Businesses Work Hard to Develop Their BRAND?

Consumers are ready to pay a premium for buying a brand based upon their perception about its quality and image. This is the reason why most business owners spend so much and work so hard to develop a strong brand for themselves. Branding ensures that not only the sale of products picks up but the company is able to earn a small premium. This becomes possible because branding generates a positive image about the business and customers are willing to pay extra money as they expect a certain quality to be associated with the products of the company.

Examples from the Real World

Coca Cola vs. Pepsi

To understand what branding means to business owners, one only needs to look at the rivalry between Coca-Cola and Pepsi, two giant soft drink companies of the world. Every man and woman know about these brands. They are so successful that they hardly need to spend so much on marketing and branding. Yet, both companies are always indulged in a game of brinkmanship to be ahead of the other in terms of sales.

It is through branding that both Pepsi and Coca-Cola try to attract more and more customers to their fold. The logos and fonts that these companies use are so well known that people identify their products from a distance and go for them without thinking twice.

The Logo and Mascot of McDonald's

The same is the case with McDonald’s, the giant American fast food company. There is no doubt that it maintains high-quality standards and consistency in its products but one big reason why people are attracted to its products is the way in which its branding has been done.

One can easily recognise the company through its logo (golden M inside red rectangle) as well as its mascot, Ronald McDonald. This clown character is loved by the kids and helps in strong branding of the company.

Branding-McDonalds-Logo
Branding-Logo McDonalds

Branding is invaluable for a company. Who can deny the role of branding in the case of Apple or Nike, the leading footwear company of the world? While Apple enjoys an image of sleek designing and superior quality products, it is Nike that creates an urge in the minds of consumers to go for its shoes. You can clearly see the role of branding with these two companies as customers are not only happy to pay a higher amount of money for their products but also feel proud to be using them.

What Goes into a Super Brand?

What makes these brands so powerful, so huge that they can overpower the thinking of the customer? It is not their logos or the taglines that makes them such big and strong brands. Many different things combine that make a brand great. From the design of the logo to the colours and the fonts that are used, several factors play their role in making of a brand. Of course, in-depth marketing research plays a  role in the making of a brand. How a brand is made is an interplay of many different factors and one cannot attribute it to just the colours, design, or fonts used by a business.

A Brand is Much More than just the Logo or the Designing

The journey of a brand begins with a logo or font, but it does not end there. The popularity of a brand and the love and support it receives from the customers is heavily dependent upon the quality it provides them. It is also seen growing in strength because of the positive perception people have about the work culture and the values of the company.

Building-A-Brand

Thus, it is evident that a company cannot hope to create a brand through cosmetic tools like a beautiful logo and packaging alone. A brand is this and much more that is not visible to the eyes.

It is how you feel about a product after using it that decides whether you will have positive feelings towards it or not. When you are using a brand, you obviously have certain expectations with its quality and performance. The interactions you have with the products of the company and the messages you get from your friends and peers about these products help in the branding process.

Amazing Benefits of Branding

Now that you are beginning to know what branding is, it is pertinent to know the enormous benefits it can bring to your business.

  • It brings instant recognition to your business
  • Banding commands loyalty form your customers
  • It creates equity for your business
  • Branding helps you earn extra profits
  • It helps in gaining credibility in the eyes of customers
  • Branding sets your products and services apart from that of your competitors
  • It gives a unique identity to your products
  • Branding creates a feeling of trust
  • It inspires employees and attracts talent

It is not a surprise to see companies of all sizes and hues spending huge sums of money to do branding of their products and services. Branding services are provided by companies having experience in marketing and designing. A brand agency utilises the services of its designers and marketers to carry out branding exercise for its clients.

Steps in a Branding Exercise

There are many steps in branding exercise. It is an ongoing process rather than a one-time job.

Understanding the target group of customers- It all begins with understanding the target group of customers of the client to be sure of the brand design that will create maximum impact.

Creating a logo that is unique and beautiful- There are many graphic designers in any brand agency Melbourne who are given the task of designing the logo of the client’s company. This logo is not only eye-catching and appealing, but it also reflects the mission and values of the client company. The logo should look professional and it should be simple enough to be easily remembered by customers.

Creating a great first impression- Marketing plays a big role in ensuring the success of branding exercise. Marketing agency Melbourne identifies the strongest point of the client’s business and highlights it in its marketing campaign. Marketing is done on various platforms both offline and online to gain maximum exposure for the company of the client.

Analysing the competition- One big part of any branding exercise is the study of branding efforts of competitors. Your branding company Melbourne carries out a thorough analysis of the branding campaigns of your competitors to identify the points about your product or service that need to be highlighted. This is done keeping in mind the usefulness and needs of the customers.

Website designing- Branding includes the creation of a beautiful, functional and interactive website for the client. This website is unique and reflects the nature of the business. All other branding tools like the logo,   scheme, and fonts are used in this website to have consistency across all platforms. Web design agency Melbourne makes sure that your business comes across as a brand in front of your visitors.

The right selection of the branding agency goes a long way in establishing your business as a brand in front of your target group of customers. You should check out the portfolio of various Melbourne branding agencies as well as their reviews before finalising the agency for the branding of your business. Talk to shortlisted companies and choose one that best suits your budget and requirements.