April 17, 2021
As business owners, we probably have all been advised to invest in branding at some point in our pursuits. Many a time, we see logos, colours and textures of other brands and think to ourselves, “ah that’s easy, I can easily replicate that!” Right?
Except that is not how branding works. That’s the result of copying.
So… what are the benefits of branding, and how to ensure that a branding investment is worth the money in the long term?
Simply put, branding builds your reputation. Many businesses think that investing in branding is an unnecessary luxury, that marketing strategies are sufficient, without considering long-term brand building strategies. Ignoring branding in favor of marketing may work in the short-term, but every modern company that has driven above-average profitable growth has invested heavily in building their brand.
Branding also helps attract your ideal audience. One of the most common mistakes that business owners make is to brand their business according to visual elements they are personally drawn towards. While it is true that you should align your business with your beliefs, there is a need to ascertain if your target audience will be attracted to those similar beliefs. Branding does exactly that – it helps to align your business with your beliefs so that you are able to magnetise dream clients to work with you. Your brand is your company’s most valuable asset, because they are business tools that drive commercial value. A strong brand increases the chances of customers choosing your product or service over your competitor’s. It attracts more customers who are happy to pay a little more, and will buy a little more often. We all want that, don’t we?
And that’s just the tip of the iceberg!
You would be happy to know this next point: Strong brands also command premium pricing! It has been observed that strong brands command 3 times the value of weak brands. With a strong brand, you are able to set higher price points, increasing your profits. If you charge $5k for your service compared to a competitor who is charging $2k, you will be perceived as offering higher-quality products! This pricing power comes directly from the strength of your brand. Not every brand positions itself this way, but all brands can benefit from a price premium. This is definitely one of the greatest reasons to invest in branding even as a new business owner, or an existing business owner wanting some fresh rebranding to truly take it to that next level. We all need profits in order to continue running our businesses, and setting a higher price point all because of a branding investment is one of the greatest returns of investment that branding provides!
So, when it comes to how much you are actually losing out by not investing in branding, aka amateur or DIY branding, you’re not allowing your business to reach its full potential. And not only that, you are ALLOWING your competitors to charge those premium rates and potentially attract your own dream clients. On the exterior, it signals to your community that you do not value your brand the way your competitors do, and we definitely would not wish for that at all costs!
If you are ready to invest in branding, fill in the contact form here to get in touch with my team. Reclaim more money and time in just 24 hours with our branding and web design done-for-you packages!
Sending all my love,
We understand that building a brand and website is time-consuming, which is why we want to elevate your brand in 24 hours to convert leads into dream clients.
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