Branding for business is something of a buzzword. Eager marketing “gurus” can often over-emphasize the level of branding necessary but the fact remains that there are many benefits are reasons to ensure your business becomes a brand.
Recognition – Branding Identifies You
Whether you are a professional dog-walker or a Fortune 500 company, ensuring that your business and services are easily identifiable is a vital part of business. Having a branded overall appearance will ensure that you keep existing clients and attract new ones. Branding, in a nutshell, is the difference between customers saying “Let’s go to a coffee shop” and “Let’s go to Starbucks”. When you deal with Starbucks, you know where you have been and when you want the same experience again, you only go to Starbucks; you don’t expect the same experience in another outlet.
Branding enables you to become “the guy” or “the place to go” for your clients as opposed to being one option in the crowd. That is huge in terms of customer attraction, retention and referrals.
Professionalism – Branding Creates a Positive Impression
Having consistency throughout your premises, promotional materials, product labelling, etc builds trust and looks extremely professional. When a business has this consistency, the first impression is that they know what they are doing. How you look still hugely affects what people think of you and your business and no matter how many times we hear the cliché, we all still judge a book by its cover.
Financial – Branding Increases Company Value Which Can Improve Access to Credit
A business which is easily identifiable and has spent time on creating their brand is considered to be more valuable than a “mom and pop” store. This is because you are no longer just selling a business based on revenue and profit but on its concept, future potential and even ethos. Potential buyers can “see themselves” owning a branded business much more easily and this increases the price which can be set.
This can in turn improve access to credit facilities as the lending institution will be more confident given the higher value.
And More – Other Benefits of Branding for Business
- Builds trust
- Inspires staff
- Simplifies expansion
- Launchpad for new products and services
When looking to create your brand, it is important to do things right. Spending some time and money in the short term will reap rewards in the long term. Talk to the Colorado Canopies team about getting your business branded with some of the best equipment on the market. Supplying everything from flyers and leaflets to custom Branded Canopies and Tents, Colorado Canopies is a one-stop-shop or all your needs.