Branding can often be confusing to business owners, with many people not understanding what branding is or how critical it is to maximizing a business’ value. Contrary to what many think, branding is more than just a logo or color palette for a business – it is the strategic process of creating a strong, creating an EMOTIONAL connection with your ideal clients and a well-perceived business or product line that they will want to invest in.
Here are some of the reasons why investing in branding for your business is a worthwhile venture and will help to scale your business – and should be a priority for business owners looking to take their business to the next level.
Having a solid, strategic, and aesthetic brand identity will drastically increase your brand equity (the value of your brand in the eyes of your target market) so you can increase your prices. Psychologically, people are willing to pay more for a product or service when the branding is on-point, and speaks to them in a way that evokes an emotional response within them. High-end branding will instantly make your audience perceive your brand as professional, trustworthy, and high-quality, so prioritizing your branding will increase the likelihood of ideal clients wanting to buy your products and increase the price point at which they are willing to purchase.
As the perceived value of your brand increases, the higher caliber clientele you will attract. Studies have shown that people perceive higher-priced offers as more valuable, and will therefore be more willing to pay for it. This will in turn attract higher ticket clients who have the budget to pay for your high-end offers, and see the value of investing in them.
A unique brand design will visually make you stand out against competition. Since the start of the pandemic, there has been a HUGE increase in online businesses. This is awesome, but it also means your industry has become a lot more saturated. Branding is key to standing out online, attracting ideal clients, and increasing interest in your target market. It could be the difference between a business being seen as one of many options or one-of-a-kind, no-brainer.
When you have a solid and unique visual brand identity, your brand recognition will increase. This means your target market will recognize your brand after seeing visual cues they associate with your brand, such as colors, logo, fonts, imagery, and more. Having a recognizable brand will lead to more clients choosing your products or offers due to familiarity, and once clients have purchased one of your offerings they may become a loyal repeat customer that is in love with your brand.
Brand positioning plays a major role in your brand strategy. Professional branding – and I’m not talking about the boring corporate kind of professional, but the unique and aesthetic branding that makes you stand out kind of professional – will help to position you as an industry leader and expert. If customers see your brand standing out in its niche and start to recognize it, they will begin to associate the industry you are in with your business. Establishing your brand as an industry leader will lead to more clients that immediately choose you as the no-brainer option, as well as high-ticket clients that will pay more for your expertise.
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Website Designed By Me, Kerry Ireland
Kerry Ireland is a Web & Brand Designer and Online Business Educator. Her mission is to help entrepreneurs across the globe exponentially expand their brand and business so they can live the ultimate freedom-based lifestyle.