Brand identity is how a business portrays itself and wants to be perceived by its customers. Every detail from the way a logo is designed and the colours used to the tone of voice employed in promotions and advertisements are done consciously, to set an identity of the business in the minds of the consumers. Some of the benefits of building a strong brand identity are as follows.
This is probably the ultimate reason to build a strong brand identity. We live in a competitive world and most products that exist, have a minimum of two other competitors. Brand identity ensures that your brand stands out from the crowd. This is done through advertising and building trust amongst the customers. Designing and branding with the help of digital marketing tools is the way to go about this in this digital era. This establishes your company, puts down strong roots and makes your brand stick in the minds of the consumers so that they recognise and choose to shop from your brand.
Customer loyalty is what we work and aim for. Customers make your brand what it is and without them, you wouldn’t have anything to sell to anyone. Reassuring them through advertisements that you are providing only the best for the best and that you are listening to their queries and valuing their feedback earn customer loyalty. Building a long lasting relationship with your customers is essential as they become your brand ambassadors and building a strong brand identity enables this. Even if your competitor launches a similar product before you do, your customers will wait for yours to buy them.
Once you’ve built a strong brand identity, you can weather every storm that comes your way knowing that your customers are loyal to you and are willing to stick with you through your minor setback. There have been instances when food products had to shut down production for a brief while to check if they are violating health regulations and car manufacturers had to take cars back due to improper security features. But when they re-entered the market they had their regular customers welcome them back because of their loyalty to the brand. Brand identity gives you perks you haven’t thought of yet!
Attracting and retaining employees is a major benefit once you’ve built your brand identity. The perks that come with working in a branded company is incomparable. Employees stick around longer if a company has a positive stature and has a strong brand identity. When the retention rates are higher, there is lesser downtime and more productivity. This also means that the company saves time and cost when it comes to interviewing, recruiting and training new employees.
Better brand equity allows you to charge more for your products and services. Customers are willing to pay extra for a particular brand or service compared to another product that is similar to it, only because of the brand logo. The brand has built this place in the minds of the customers because of its superiority in the quality of the products and by valuing their feedback. They don’t mind paying a premium price for their products as they have built a strong brand identity in the hearts of their loyal customers, through branding and marketing and will continue to shop from that brand until a competitor surpasses it.
These are the benefits of building a strong brand identity and these are the reasons why you need to visit Tablo Noir to help you redefine branding and identity!