One of the most important marketing practices, branding, can genuinely make or break the business. However, it gets overlooked too often, and the reason behind it – well, the way we see it, at least – is because very few people understand the actual, measurable benefits of branding.
First and foremost, branding is responsible for the recognition, and the (hopefully) strong logo at the forefront is essentially a company’s face. In addition to this, a good brand can also increase business value for both consumers and investors by making it more appealing and, thus, creating more leverage in the market.
Branding is also often responsible for consumer loyalty. And you know what loyal consumers are great for? No, not only recurring purchases but, just as importantly, for spreading that priceless word of mouth. And we wouldn’t need to tell you that this results in new consumers, would we?
Strong branding also helps to ensure consistency throughout all means of marketing, and consistency, in return, creates trust. And while consumers tend to lean towards the brands they trust, you mustn’t overlook your future employees, too. People look for jobs in well-known, cool companies, and in order to achieve such an image, you need strong employer branding.