Building a brand is an ongoing process. One that ideally begins as soon as the businesses’ first campaign and never stops. It is grueling work but the benefits are worth it. Successful brand-building efforts give your customers an emotion they can identify your brand with and that is all founded in the words of Simon Sinek, people don’t buy what you do, they buy why you do it.
This post is following a post on how to establish your brand on social media which you can find here. Although overall branding is important, today we’d like to focus on the benefits of standing out on social media because more and more businesses are moving into the digital space and so that is where we must focus also. With that said, let’s get into the benefits of business branding on social media.
Successful branding efforts increase your brand awareness. The more you spread a consistent message the more prospects you will reach with said message and the more people will get to know about your business. This is especially important in the wake of coronavirus. Why is that? Because of the effects of COVID-19, more and more businesses are entering the online space. Remember that all businesses are competing for the same pool of customers making branding efforts crucial.
Trust does not come easy or cheap. As a business, you have to work hard to get it through strategic braiding efforts that communicate a message that is honest and authentic to your company. Trust and credibility from branding efforts also come from consistency. Consistency in all the communication from your business to your customers and prospects. Consistency in the quality of your product offering as well as how you handle your customers. This builds trust between you and your customers.
Another great benefit of successful branding efforts is customer loyalty. Successful branding comes from an honest and genuine place which leads to customer trust and trust breeds loyalty. See how these are connected. There is no one without the other. Think of this as a customer because you are a customer as well, have you ever made a buying decision choosing something that cost you more money, and when you were asked why you said it’s because you “trust the brand” you chose over the other one? Does that sound at all familiar? Such lines are a result of successful branding efforts on the brand you favored.
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If you have loyal customers who only buy from you why won’t your revenues go up? It should go without saying that the greatest benefit of the grueling work that goes into building a strong brand is increasing revenues. How does this happen?
When your customers trust your brand, they become loyal to you when they become loyal to you they start looking into what else you have to offer. Say you are an active-wear store, your loyal customers who buy shoes from you will look into what else you have, see that you also sell workout clothes and that you even have some workout equipment. This is the power of successful branding efforts.
Successful branding also gives your brand and business authority in the industry in which it exists. This authority comes from the credibility you would have created for yourself. It allows you to present yourself as a thought leader in your industry
Another great benefit of successful branding is an increase in market share which naturally leads to more sales. The more you increase brand awareness, the more people want to know what your brand is about. This will lead to prospects turning into customers and your customers turning into advocates of your brand thus increasing your market share.
Great branding efforts don’t just affect people outside your business, it also affects the people who make the business run daily. A great brand that stands behind something honorable is one whose employees can stand behind. For instance, at Apple Co. they believe in thinking differently, out of the box thinking that changes the world. That is something that employees can stand behind, something that can make them excited to get up every day and challenge themselves, try things that might not work in pursuit of something great. That is the power of a powerful brand.
This motivation leads to loyalty. Simon Sinek says that branding is about sharing a message about what you believe this comes from understanding why you are doing what you are doing. Once you have answered your ‘why’ then you will understand what you believe in and you will also hire people who believe in what you believe and these employees will be loyal to your brand. Why? Because every day they are inspired to work for a brand that shares their beliefs.
Successful branding acts as an aid to the marketing and sales efforts. In the same way that Apple doesn’t have to beg people to buy or try their products. Why? Because they have already created a brand that people know, trust, and are loyal to. That does not mean that their marketing team can go home, it simply means that they are having a different conversation with their customers and their prospect’s unlike a company that no one knows anything about yet.
To recap, branding is a lot of work that is a company-wide effort however the efforts are more than worth it. Successful branding efforts lead to you standing out in today’s social media that is saturated with businesses that are all competing for the same customers. Successful braiding will give to increased brand awareness, credibility/trust, customer loyalty, increased revenues, authority, increased market share, employee motivation, employee loyalty and it will aid your marketing and sales efforts.
We hope this helps you stay on the branding course. Keep playing the long game.
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