How Branding Affects Sales for
Apple, Facebook, and Coca-Cola are massive brands that are worth millions or billions of dollars. And what do these companies have in common? They have strong branding management. The leaders of these companies believe that branding drives sales. Therefore, branding is an investment.
Branding is behind the interest of every customer and possibly new customers. It is also the primary factor that strengthens the brand’s marketing strategy. But how does branding affects sales?
Citing an example, Apple sits first in line in Forbes’s 100 most valuable list with a value of $182 billion. If Apple did not invest in the right marketing covering their market visibility, business credibility, logos, email promotions, and more, they would not sit at the top throne. Because successful branding management is key to increased revenue.
How do you establish a brand?
Your brand needs to tell a story like how you started off, why you even started in the first place -- anything that makes your brand stand out. It should also have visual elements that is a requirement. From logos, fonts, color palettes -- anything that represents your brand’s mission and vision.
Before we jump into the sales part, let us discuss how to establish a brand first.
Establishing a brand covers a lot of aspects from investigating, formulating, organizing, validating, implementing, and realizing. This is called the Paragraph’s Process. But since we, at Global Presence Marketing, understand that you do not have all the time in the world, we made it easier for you to grasp.
Like every business, you should have an analysis of your competitors. You cannot separate your brand from other businesses without looking at how they present themselves. Observe how they position themselves in the market, the messages they send to their customers, and their overall branding strategies.
Who are you?
One of the factors that make a potential customer buy the product or service that you offer starts with “Who are you as a brand?” This excludes your business’ mission and vision. Rather, it shows what you stand for and why should anyone care about your stance.
Showing who you are and what you believe in makes it intimate. You allow your brand to become personal with the public. For example, if your brand stands with an oppressed nation, it seems like you care about the country and its social issues and people. That political stance is also considered as a branding strategy.
Tips on branding management
- Always do competitive analysis
Whether or not you plan to create your brand internally or hire a marketing team to do the work for you, always consider doing a competitive analysis. Why? It is simple. You cannot offer a unique platform when everything looks the same or if all businesses offer the same thing.
- Be organized
Establishing a brand can be overwhelming from creating, planning, developing, to execution. Regardless of how tiring, always be organized. With regards to curating content, organize designs from the simplest form to complex ones.
- Take considerations
Branding does not just revolve around logos, fonts, or colors. Taking other considerations into a factor could also contribute to the overall success of the brand.
- Engage with your customers
You are making and establishing these brands for the main benefit of your customers. Engage with them using social media platforms. You can also employ social media management for better brand awareness and customer engagement.
Benefits of a strong branding
- It makes you stand out from the norm.
With thousands and millions of businesses existing, it is hard to fight your place to be recognized easily. This is why branding management is essential for market growth. Strong branding can make you stand out from the norm or the usual. Why? Because finally, people see something new and fresh in the market. So always try to be unique and new to the eyes of people.
Another example is Apple. When you see a bitten apple, you automatically think of this tech company. Their logo has been distinguished across the world that it is difficult to even forget. Hence, they have strong branding management. You can easily separate them from other mobile phones since they are in a superior position.
- You build credibility and gain trust.
Having a strong branding creates credibility and this credibility gains the trust of many. The credibility of your brand is determined by how well-constructed you are. You should follow strict branding guidelines and comply with consistency.
- It drives sales from repeat customers.
If you think branding only focuses on new and potential customers, then you are missing out. A strong brand also drives sales from repeat customers. As the famous quote says, “It’s cheaper to get past customers to purchase again than it is to find new customers.” Why? Because these past customers already had a taste of your brand -- its creativity, credibility, and how it operates.
With consistent strong branding, not only you get to pursue these repeat customers to buy your products or services but you also give them an opportunity to market and advocate for your brands to other people. Hence, you widen your reach based on word of mouth. In today’s digital era, it is not complex to do this kind of marketing. Your customers can easily send and forward their insights in just a few clicks and to their circle of friends.
In a business, it is essential to know what and how people will see your business. Because this will determine their buying patterns that drive up your sales. Today, even with the continuous presence of the internet and other advanced technologies, companies still do not consider branding as essential. When in fact, it is one of the aspects that a business owner should consider building and running when starting up. Branding makes it possible for consumers to buy your products or services and increase your brand’s revenue and sales.
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