6 Major Benefits of a Strong Brand
In This Article
If you’re a big fan of Ikea and walk into a Flying Tiger store, you might think, “Does Ikea own this?” And you wouldn’t be the only one making this assumption.
The funny thing is, Ikea does not own it; it doesn’t even sell furniture! So why would someone confuse the Flying Tiger with the Ikea brand? It’s not called Ikea. They don’t share the same name or logo. They don’t even sell the same merchandise.
The answer is branding. The Flying Tiger experience feels a lot like the Ikea experience. Brand is everything—the pricing, store layout, fonts, and social media presence. Really, it’s the whole vibe.
Some brands, like Ikea, are so strong that it’s noticeable when another business imitates it in any way, even if we can’t exactly put our finger on why the Flying Tiger feels like Ikea.
Think of your brand identity as a visual elevator pitch—it’s the face and personality of your business. Your company’s personality is spotlighted by how you present products, communicate with customers, and build relationships. Brand identity is all about how your company presents and follows through with those interactions.
What Is Brand Identity?
When considering your brand identity, ask yourself a few questions:
- What do you want people to think when they see your brand?
- How do you want people to feel when they interact with your brand?
- Do the expectations of your business’s personality align with the reality of your customers’ experiences?
For example, Disney aims to make people feel joy, nostalgia, and excitement. From theme parks to movies, they consistently deliver experiences that evoke these emotions.
Brand vs. Logo
A common misconception in marketing/advertising is that your logo is your brand. And if you think that, you’re not entirely wrong.
The main difference is that brand identity is an umbrella term for your whole brand, and your logo is a category under that umbrella. Your logo is an introduction to your brand, not your brand itself.
How Do Brands Benefit Consumers?
A lot of brand identity is relationship building. Establishing your brand over time fosters credibility; your brand consistency will show your personality so your customers can recognize you.
What happens after recognizability? Trust. Customers want to do business with a company they trust. When you have a strong, consistent brand, your customers will feel safe and confident coming to you to meet their needs.
What Is the Importance of Branding in Business?
Your brand identity is a crucial element of your business’s success. Your brand is your logo and design and how you interact with customers, advertise your products, and show up on social media. It’s also the content you produce and how you display your values (through both words and actions).
Your brand is the key identifier for customers and competitors to know your business’ who, what, why, and how. It establishes your authority to be a leading voice in your market.
6 Major Benefits of a Strong Brand
We know branding is essential for your business, so let’s take a deeper look at how your business can benefit from creating a strong, established brand.
1. Brand Recognition
A brand is an association with your company. When you have a strong brand identity, customers will recognize you and associate your brand with your products and services.
Brand recognition plays a significant role in marketing and advertising.
If you see a polar bear with a red scarf in a commercial, you’ll probably think of Coca-Cola. If we said, “I’m lovin’ it,” you might immediately think of McDonald’s. In fact, you might have read that using their jingle. The tone and symbols adopted by a brand lead to associations we make every single day.
Branding is everything. If your customers and competitors can recognize your brand, your business will move to the forefront of their minds and create recognition.
2. Establish Trust to Gain Credibility
Consistency is the key to trust. Credibility takes brand recognition a step further. When customers and other businesses in your market see your brand consistently, it stands out as one of “the faces” of your market. And 81% of consumers indicated they need to trust a brand before they buy.
Brand identity development takes time; credibility and trust must be earned. A great way to earn your authority in your market is to be forward and confident about your brand. In turn, your customer base and competitors will also feel confident about your business.
3. Confidence in Your Mission
What is your business passionate about? Why do you provide your specific services? And why should people care? 88% of consumers say authenticity is a significant reason they’ll choose to support a specific brand. And you can demonstrate authenticity through your mission.
Brand identity solidifies your mission. When you are confident in your brand—which is your business’s personality and identity—you can stand firm in your mission. Be a business with a purpose, and let others know about your purpose, too!
4. Make and Keep Loyalty
When you believe in your business and let people know that via your branding, they will hop on board. One of the many advantages of branding is that having a brand your customers love means they’ll want to share your business with others.
A strong brand creates its own ambassadors. If your customers believe in your mission and love your branding, they’ll want others to experience it, too. In this way, you’ll keep your loyal customers and gain even more.
5. Reduced Price Sensitivity
Price sensitivity and brand have a complex relationship that influences consumer choices. Customers often exhibit less price sensitivity for premium brands that symbolize quality and exclusivity.
They value the unique attributes and trust associated with the brand and are willing to pay a premium for those benefits. An example is luxury brands like Apple, where innovation and quality justify higher prices.
Similarly, if a customer values the brand’s mission or values (think TOMS shoes), they might purchase the product even if there are cheaper alternatives.
6. Importance of Personality
Establishing your personality is one of the main benefits of creating a strong brand because your personality represents what you stand for and what experience your customers will have.
Amir Kassaei, the former CCO of DDB Global, says, “a brand is not a product or a promise or a feeling. It’s the sum of all the experiences you have with a company.”
Your brand represents who you are. It tells a story through your website, products, business cards, and infographics, as well as in your stores and during interactions with clients and customers.
What Do You Want Your Brand to Say About You?
Establishing your brand identity is a project that involves target audience research and time spent developing your identity. The good news is that branding your business doesn’t have to be a solo project.
Metric Marketing’s search engine optimization (SEO), marketing, and design experts are here to help. We’re here for you if you have a quick question about your brand or need help starting the whole process from scratch!
Connect with us for a chat—we’re looking forward to hearing from you!
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