Why the world would end without branding
Branding is one of the most important business tools in the world, regardless of how big or small the respective company may be. By definition, branding refers to a marketing practice whereby a company coins a name, design or symbol that is easily recognisable. Think about the golden arches of McDonald’s, the swoosh of Nike or the red and white of Coca Cola; these all help to identify their brands on a global scale while setting themselves apart from other products and services.
That said, branding is far more than a logo or company colours!
It can help you to win investment
Without investment, your business is likely to crumble to the ground, and even more so if it is a start-up. A strong, easily identifiable brand can help you to generate a future in business. In turn, this can increase the value of your business as it can bring you more leverage in your respective industry. This makes your brand a more alluring investment opportunity for any potential suitor.
It can boost employee productivity
Branding can also help to boost employee pride and job satisfaction, as when an employee works for a company with a well-respected brand, they are more likely to agree with what that brand stands for. This leads to increased job satisfaction and greater fulfilment.
It supports your advertising efforts
Over $40 billion is spent on advertising each year and a strong brand can help to strengthen your advertising campaign. Branding and advertising may be very different facets of a business, but they share a mutually beneficial relationship and are both comprehensive marketing strategies. Branding creates a look for your business and advertising helps to communicate that look to investors and consumers alike.
So, branding ensures that the world of marketing continues to tilt on its axis. And as we’re exposed to up to 4,000 ads on a daily basis, each one influencing what we eat, where we go, and what we wear, branding is indispensable to our everyday lives. Without branding, innovation is nil and reputable companies will become unrecognisable, thus the price of poor quality goods can be heightened.