If you’re busy working hard to run a business, you might think of branding as an optional extra. But the truth is, if you want your business to succeed and grow, branding is an important investment.
In this blog I’ll discuss 5 reasons to invest in your brand and explain the importance of spending money, time and energy in order to understand your core values and implement them through your brand communications.
Reason #1: Make more money!
That’s right – investing in your brand will increase your profits. By positioning yourself in the market and differentiating your product or services from the competition, you’ll be able to publicise and market your business more effectively. A client of mine recently experienced this first hand: due to her rebrand, she landed a huge project and has continued to get better quality clients, which has increased her bottom line.
Reason #2: Help focus your future
If you’re just starting out, or you’ve been running your business for a while and are unsure of your future direction, a brand discovery session can really help to make things clearer. By identifying your unique values and thinking about where you stand among your competitors, it’s much easier to see the right way forward for your company and make good decisions about which products to offer, where to sell them and which audiences to target.
Reason #3: Change with the times
If your marketing message has been the same since you started out, it may be time to re-evaluate your brand. Nothing ever stays static for long, so even if your products and services have not changed or expanded in any way, you can bet the rest of the market has changed – and you can’t afford for your business to be left behind.
There are many reasons to invest in your brand development at any time in your company’s lifecycle, but if your business is growing rapidly or the sector has moved on, this is a big one.
Reason #4: Express your values
Are you passionate about a particular lifestyle – perhaps your love of the outdoor life has led you to develop a range of camping equipment, or your concern for the environment has influenced your product design and packaging?
If you launched your company to express any facet of your personality, let it shine through in your branding. This will help you to attract audiences who will share your passion. With branding success, instead of having to persuade them to purchase your product, they’ll seek it out as an expression of their own personality and interests.
Reason #5: Attract the best staff
All too often, we think of branding as targeting consumers only. In truth, it’s also a vital tool in recruiting and retaining staff! Whether you’re a quirky and carefree company with a playful approach, or a highbrow business offering quality goods, your branding will influence the employees you attract.