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Branding is the magical word that every marketer and business owner loves to hear. Branding methods are essential in helping your business stand out from the competition and creating a unique identity that customers recognize and trust. Much like a great sports team uniform!
But what exactly is branding, and why should you care? We’ve learned that branding is an important part of a thriving business and we want to share our findings with you! Let’s take a look at the importance of branding for your business.
What Is Branding?
A business's branding is the identity that sets them apart from others. This identity encompasses more than just surface-level marketing aspects such as slogans and logos and delves much deeper into creating an emotional connection with your consumers. You might think emotional connections should be saved for those we love, but modern businesses understand that establishing emotional connections through branding is just as valuable.
With the target audience front-of-mind, branding comprises of:
- Business values and mission
- Appealing logos and fonts
- Catchy slogans or jingles
- The message behind the marketing campaign
- Brand voice and personality
We all remember those people in our lives that have big personalities and extroverted characteristics - businesses can have the same effect!
A great example of a positive branding strategy that has worked for generations is Woolworths. Woolworths is a brand that has a simple yet memorable logo, slogan, and jingle. Sing it with us, “Woolworths the fresh food people!”.
But what makes Woolworths stand out is their dedication to customer service, providing good-quality products, and their business values. Everyone knows their name and would easily be able to recognise their logo when it pops up in a trivia game at your local pub on quiz night.
A business can easily build trust, loyalty, and recognition through its branding strategy. A brand isn’t just a logo or slogan; it’s an entire package of visuals, messaging, customer service, and more that come together to create an experience for your customers.
Your branding should be an extension of your values, mission statement and the products or services you offer. All of which should be reflected in how you present yourself to the world through your branding.
Why Is Branding Important?
Your branding is important because it is how customers will recognise and remember you. Branding allows you to connect with consumers and build a positive image that eventually turns leads into sales, sales into repeat sales, and repeat sales into loyal customers and fans.
Think of branding like giving yourself a fantastic new outfit that fits great, is comfortable, can be worn more than once, and receives a compliment or two. That's great branding. But if a new outfit doesn't fit well, scratches the skin and falls apart after wearing it once - you won't purchase from that brand again.
A strong branding strategy provides reliability and trustworthiness - something that 80% of consumers consider a deciding factor in their buying decisions.
Considering how competitive the market is these days, creating an effective brand identity with strong recognition is vital for every business. That’s why we at Cheeta take branding seriously and why we strive to create great designs and offer customers sound insider knowledge and advice where we can.
The Benefits Of Branding
Branding can help you establish credibility with potential customers and strengthen relationships with existing ones. When people recognise your brand, they know what they can expect from it. Whether it’s quality products, great customer service or a field game that’s bound to be won, branding can help build trust between the customer and the company.
Furthermore, having a solid brand identity makes it easier for customers to notice you amongst other competitors in the marketplace. For example, when we see our favourite sporting teams take the field, if we don’t recognise their faces, we at least know their uniform colours. Just as we know our fellow team supporters on the game sidelines by the sporting merchandise they wear like branded beanies and scarves.
This helps increase customer loyalty which leads to more repeat purchases and thus, greater profits for your business! Basically, branding is a no-brainer and the benefits speak for themselves.
Here are 5 researched benefits of branding that can help your business!1. Recognisable brands charge more
Businesses can charge more if they have a stable brand that promotes top-quality products and services. People are willing to pay for products and services they perceive to be of higher quality or from a company they trust. In fact, studies have shown that people are willing to pay up to 20% more for a product with a strong brand.
Did you know that the AFLs West Coast Eagles have the most expensive adult AFL membership in the league? To top off this fun fact, some people wait 15 years or more to become a member of some clubs no matter the cost!2. Branding can help you attract and retain loyal employees, fans and players
If you are a relatable and strong employer brand, you'll be able to attract and retain top talent. After all, people want to work for companies with good reputations, play for teams that offer great opportunities and show up for bosses who show up for them. A strong employer brand can help you save on recruitment costs, as you won't need to spend as much money on advertising and other recruitment efforts.3. Compelling branding can build trust and credibility.
People are more likely to do business with companies they know, like, and trust. A strong brand can help build that trust and credibility by conveying messages about your company's values, mission, and history in a brand voice that appeals to consumers.4. Well-crafted branding can differentiate you from your competition.
In a world where consumers have more choices than ever before, it's important to be able to stand out from your competition. A well-crafted brand can help you do that by conveying what makes you unique and why people should choose you over your competitors.
Well-crafted corporate uniforms, for example, can increase productivity by imparting a professional mindset in workers.5. Powerful branding can help you get funding.
If you're looking for funding and/or sponsorship for your business or club, a strong branding strategy can be a major asset. Investors want to invest in companies with good reputations because they know those companies are more likely to be successful. It's a fruitful win-win for both the company and the investor.
5 Surprising Stats About Branding
When it comes to branding, numbers don't lie. Actually, numbers rarely ever lie! Companies invest billions into promoting and building their brand, and the amount of money being thrown around gives a clear indication that there is something special about having an impactful brand.
Here are 5 surprising branding stats every business and club should know:
- Brands with loyal customers reported an increase in revenue of up to 33% (Forbes Insights)
- A 2021 report by Lucidpress states that consistency in branding can increase revenue by up to 20%.
- According to Customer Thermometer, customers will pay up to 50% more for sustainable businesses making positive impacts in the world.
- It can take 5 - 7 impressions for a brand to be recognised.
- Last but certainly not least,94% of consumers appreciate and are loyal to transparency. Showing that honesty really is the best policy.
Creating A Strong Brand
Do you want your brand to be as strong as your favourite superhero or as well-known as your favourite sports idol? The first step to creating a strong brand is to define who you are as a business or a club.
- What are your core values?
- What sets you apart from other companies and clubs in the same industry?
Once you have established these key points then you can begin to create visuals such as logos, graphics, branded merchandise and packaging designs that reflect these qualities.
Here are some tips for creating a strong brand:
- Develop a Unique Logo
Your logo should be simple yet powerful and should stand out from other companies in your industry. Make sure that it can be easily recognised and associated with your brand. Research colours and how they affect perception too.
The Melbourne Storm NRL team rebranded their logo in 2019 after carrying the same logo for 20 years. Calling their rebrand “natural evolution” they now have a strong logo that stands out in purple and silver and that represents their winning club well.
- Establish a Brand Voice
Your voice should reflect the values of your company and be consistent across all channels. It’s important to have a strong point of view on topics relevant to your industry and customers.
Sharing content or using a voice that doesn’t typically relate to your services and goods might lose you some customers and fans.
- Have a Unique Selling Proposition
What makes your product or service different from the competition? Figure out what sets you apart and use it in your messaging.
- Invest in Quality Materials and Promotional Marketing
Use the highest quality materials if you want consumers to shop with you again and recommend you to others. This can include print materials, digital assets, web design, promotional merchandise and more. Investing in high-quality materials and uniforms will help you build a strong brand identity that lasts as long as your top-quality products.
- Showcase Your Brand Values
Ensure your brand values are clearly visible to your customers. Be consistent with your brand values and keep your products, customer service and all consumer-related interactions in line with these values.
You’ll see many sponsors withdraw their support and sponsorships for top-level athletes who are involved in questionable public cases. Some might find it harsh but businesses understand their values need to be kept in order to maintain a high level of quality and consistency in their business values.
- Foster Customer Engagement
Engaging with customers, clients and fans is a key part of building a strong brand. This can be done through responding to social media posts, writing educational blog articles, newsletters or emails, and implementing other digital marketing initiatives as well as encouraging influencers for the brand to attend fundraisers and other events.
- Monitor Your Brand Performance
Knowing how your brand is performing is essential for making improvements and reaching your goals. Use analytics tools and key performance indicators (KPIs) to track the performance of your website, social media accounts, and other marketing campaigns. You'll find where your branding and marketing strategies are lacking and where they're firing ahead.
Examples Of Strong Brands
Look no further than Starbucks, Mcdonald's, and Apple for examples of strong brands. Each of these global giants has built up its brand recognition through smart marketing campaigns, efficient branding and unrivalled customer loyalty.
Starbucks has become universal in cities, popularising the concept of big coffee chain success with signature drinks like Frappuccinos. If you're wandering around the city in dire need of a beverage, you know you've followed the call of a two-tailed siren when you find yourself at Starbucks.
McDonald's red and yellow arches are now part of pop culture, whether you're looking for inexpensive fast food or craving something sweet from the McCafe. Have you tried a McCafe Frappe yet?
McDonald's golden arches logo is crucial to its branding success. Though it has been through numerous re-designs since 1961, the golden arches with a red background are now the most recognisable logo in the world. Here's a fun fact for you: The colour red is the most attractive colour for its vibrancy and is also closely linked with an increased appetite.
Apple revolutionised consumer electronics by making sleek devices that ooze style combined with performance that can keep up with our increasingly digitally dependent lifestyles. Apple's logo is simple and impressive much like Apple's product designs. Their branding is consistent and inventive and their marketing strategy appeals to consumers emotionally. So, are you Apple or Android?
These strong brands prove that success is more than just selling good products or services. A lot goes into their branding technique and their impressive customer retention and annual revenue reports reward them for their branding dedication.
Ready To Brand Your Business?
Crafting a distinct brand identity isn't just important; it's essential if you want to set yourself apart from competitors in today's competitive marketplace.
Your brand is what sets your business apart from the competition and what customers will remember about you long after they’ve made a purchase, joined your team or supported your cause.
Investing in branded merchandise is one way to ensure that your customers will think of you fondly and display your logo proudly. Items such as custom bucket hats are also a great conversation starter and we all know word-of-mouth marketing is the most fruitful form of marketing.
Now that you know where to start, get ready to create a stronger branding approach than ever before. Let's show the world who you are by reflecting your business and club values in all your future branding strategies.
Where’s the best place to start your branding journey? With top-quality custom uniforms at Cheeta Teamwear!