Brands are everywhere. There are probably some that you absolutely love and others that you hate. What many people don’t understand is that a brand is much more than a logo. Yes, the logo is a large part of your brand, however, branding encompasses everything the customer experiences, such as your staff, social media experience, website, or your store. If you had a bad experience with one of the employees or didn’t think a store was clean or organized, you may not be willing to purchase something from that particular brand again. Many businesses do not spend the time thinking about their brand and how important it is.
Your brand can help set your company apart from its competitors. With today’s technology, you are competing not only with the companies near you, the competition also includes companies all over the world. Customers will pay higher prices if your brand can offer something different from a competitor that they perceive as valuable. For example, there are some people that prefer to purchase items from Amazon compared to a brick-and-mortar store. Some consumers may be willing to purchase something if a brand is more sustainable than its competitor. Branding shows customers what makes your product or service worth their time and money.
When purchasing something you typically go with a product or service that you know what to expect when purchasing it. People know what they like and will typically stick with a product when they finally find one that satisfies them. By being able to do that, brands are able to keep a large number of customers that are loyal to them. There are customers that will always choose Apple over Android because they know they are going to get a similar looking device that has all the same bells and whistles as before with possible design and layout changes. The same thing happens with Pepsi and Coke products. Some people will not have soda at a restaurant if they don’t have the right brand. Having a brand and being able to build up that trust with customers is very important because it will keep them coming back and staying loyal.
