What Is Branding and Why Is It Important?

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Excursionist
12 4 17

Send a compelling message and make a great impression to dominate competitors.

 

You may have heard that branding is only for large companies with big budgets.

This is a myth.

Branding is important for businesses of all sizes. Given how competitive the market is, small businesses stand even more to gain from it. This includes solo entrepreneurs, online businesses, and even independent freelancers.

Unfortunately, many small business owners don’t have a brand plan or strategy. But those that focus on brand building hold a significant advantage over those that don’t. 

According to this report, 6 in 10 consumer purchases are influenced by the “power” of a business’s brand.

 

In this article, you will learn:

  • What branding is and is not
  • How branding can super-charge marketing and sales
  • How branding gives you an advantage over competitors
 

What Branding Is NOT

There are two quick points I would like to make before we move on.

First, branding is not limited to a logo and color scheme. Nor is the goal simply to make people “aware” of your business. Though these are a part of the brand building process, they only scratch the surface.

So, if this is your idea of branding, please keep reading.

Second, it’s important to know the difference between branding and marketing.

Marketing is any activity designed to promote your business, products, or services. Marketing complements the branding process but does not replace it.

What Is Branding?

A brand is a name, term, design, symbol or other feature that identifies one product or service from others.

Branding is the process used to build your business’s identity. Everything that represents your business, tangible and intangible, collectively form your brand.

Examples of tangible brand elements are your logo, website, and office space. Your business’s values, purpose, and mission are examples of intangibles.

Your customers also contribute to your brand identity. So does your reputation and any associations with other businesses, people, and organizations.

Think about it. Isn’t it true that “birds of a feather flock together?” The company you keep affects how others see you. Likewise, associations have an impact on a business’s reputation.

Jeff Bezos, CEO of Amazon, may have said it best:

“Your brand is what other people say about you when you’re not in the room.”

Why You’re Not Making More Sales


Now let’s explore how branding can help you generate more sales and grow your business.

In today’s market environment, consumers have an unlimited number of choices. No matter what product or service it is, there are hundreds of businesses competing for the sale.

I often ask business owners why people should choose them over their competitors. They almost always give me the exact same answer:

“We do good work and provide great customer service.”

I know most business owners believe they’re good at what they do. And I know people want good service. But these statements won’t convince anyone to buy from you. That is because your competitors are saying these things too.

People may appear to be listening as you explain why they should buy from you. But they aren’t.

Instead, they’re sizing you up, trying to decide if you’re qualified to help them. They are also comparing you to other buying choices to determine which is better.

Your prospective customers want to know if you and your product or service is the best solution for them.

As they weigh their options, these questions are running through their minds:

 
  • Does this person/business understand my problem?
  • Is this person/business qualified to help me solve my problem?
  • Are they credible? Can I trust them?
  • Am I getting the most value for the price I pay?
  • Will this company be there for me if I need them or will they toss me aside after I buy?
 

But there is another layer to the buying process you must consider.

Consumers don’t want the buying process to be difficult. They don’t have time to research every solution. That is why they rely on brand signals to help them make purchasing decisions.

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Excursionist
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5 Best Shopify apps to build & scale your online brand

1. PageFly PageFly

is absolutely recommended for those starting out in any form of eCommerce, whether it’s dropshipping, digital products, physical inventory stores, and even blogs. I say this because even on the free plan, you’ll have more control and customization of your site to build a strong brand.

Add app now 

2. Loox Reviews

Without social proof, you’re dead in the water. 90% of online shoppers look to other humans reviews and testimonials before making a purchase. If you’re a drop shipper, Loox lets you import reviews directly from AliExpress onto your store while letting you continually collect reviews from your customers.

Add app now 

3. Super Watermarks

The next level of building brand with watermarks and stickers. Super Watermarks is an advanced but also easy-to-use watermark bulk editing application for your product images. It allows you to add highly configurable watermarks, logos, stickers, labels, badges and frames to your products.

Add app now

4. Facebook Chat Box

Depending on what you’re selling, customers may need to inquire further to put their minds at ease before purchasing. These key interactions with your customers encourage them to trust you. In addition, sometimes all a visitor needs is confirmation that your product solves their problem/is what they’re looking for.

Add app now

5. Plug in SEO

This is a great tool for diagnosing SEO issues that might be occuring on your store. The app will sweep your entire site and display a list of errors or optimizations that need to be fixed for best results. There’s a free plan available and a 7-day free trial if you choose to go premium.
Add app now

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Excursionist
12 0 4

A very good and useful article, thank you for sharing.

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New Member
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A&E is a full service Social Media agency in NYC specializing in media buying, influencer marketing campaigns, social media management, events, branding and content creation (photo and video production). We are a media agency that grows brands digitally! We utilize social media techniques known only to macro and celebrity influencers and drive exceptional ROI. We have worked with over 400 clients – clients that, on average, see a 80% improvement in leads or sales within the first few months of their integrated marketing strategies.'

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New Member
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Branding is important because not only is it what makes a memorable impression on consumers but it allows your customers and clients to know what to expect from your company. ... There are many areas that are used to develop a brand including advertising, customer service, promotional merchandise, reputation, and logo.

when launching new products and services, and it drives consumers' decisions when differentiating between competing companies. It encourages repeat purchases and leads to an increase in market share and incremental sales.

The brand value of the company where I am working now is very low but till the start of 2021, I will try to give brand value to the FHC Nursing Pvt. Ltd. company.

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New Member
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Your blog is very helpful. I got to know some meaning full details. I hope you will share more useful information with us.

 

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New Member
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Branding is totally basic to a business due to the general effect it makes on your organization. Branding can change how individuals see your image, it can drive new business and increment brand mindfulness.

Web Design & Digital Marketing

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Tourist
15 0 1

Nicely explained That is something which is the demand of this technologically revolutionized society. No matter what type of business you have, small or big you can't survive without it

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