Developing an effective marketing strategy is an integral part of a successful business.
A business, either a new company in Sydney or an established Dubai business setup, can’t expect growth without a successful and powerful marketing. An important factor that is especially required for a successful marketing campaign is the brand name.Brand Marketing Benefits: 8 Reasons branding is important when it comes to Marketing Click To Tweet
Previously, branding was just considered a combination of slogan, name and symbol of a corporation that was used to identify a product or a company. But now in the modern world, the importance of branding has increased many folds. It is now not just limited to recognition of a company, but it also represents the confidence of the consumers and reputation of a company (its products and services).
Branding makes it easier for a company to promote its specific characteristics to customers which helps them to distinguish themselves from their competitors. Thus, branding makes the whole marketing procedure effective and easy to implement for any business. With a reputable brand name, the company has to spend less on extensive marketing campaigns.
Following are the 8 important points that will highlight the importance of branding for marketing of any business.
Branding makes you Unique
In a free market, there is no monopoly for any business regarding any product and service and companies are free to try and make a place in any type of business activity. This promotes the competitive environment between various businesses in the same field. In this scenario, the only way through which a business distinguishes itself from others is by having a unique brand name.
Your brand highlights the quality of your products and services and this makes you special among your competitors. The consumers of your type of business will remember your quality by your brand name and it will automatically enhance your marketing process.
Branding and Permanent Customers
As branding is the other name of reputation, so your customers will know the quality of the products and services you provide after using them. If they are satisfied then they will remember your brand and the quality you provide. This will make them your permanent customers in case you maintain your standard.
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Not only that, but these customers will surely use your brand’s name to introduce it to their friends and relatives. It means your loyal customers will do your marketing without any cost and it is through your brand name. This will ultimately result in increasing the number of your permanent customers through marketing of your brand.
Branding makes you (and your Products) famous
Once your brand becomes popular for quality and professionalism, everything you use will become famous. Thereafter, you will not be required to spend millions on any product you launch or the one you took from other brands or individuals. An example is the YouTube.
Google purchased this video service rather cheaply. It was best in the quality but lack any reputation. But soon after its launch by Google, it became famous all over the world in no time. The only reason behind popularity of YouTube is its ownership by a highly respectable and famous brand (Google).
Branding expand your Market
In an effective marketing strategy, customers from all walks of life and different locations are targeted in order to attain maximum benefits and wider approach. Branding again is helpful in this regard. It is because an already established brand can easily get popularity in wider area as people in different parts of world are already familiar with big brands (even in geographically distant places) thanks to modern technology.
Branding helps you face the Crisis
Even the biggest companies face financial or other types of crisis in some part of their business journey. But the situation is tenser to new and unfamiliar companies. On most of the occasions, these companies have no choice except to pack up their luggage and end their business experiment.
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But the branding companies can expect to come back from grave situations because they have at least few loyal customers at any time of their business and they can expect to re-emerge with just a little bit of luck or shift in the strategy.
Launching a new Product or re launch famous Products
Every business needs to offer new products from time to time. But promoting every new product is not an easy task for a new and unpopular company. It has to spend heavily on marketing to get some good results and even then it is not imminent. That’s not the case with a famous brand. Any new product of a famous brand will become popular within no time with very little marketing campaign due to trust of people on the business.
Along with that, branding also helps in using the nostalgia of previously famous products. An example is Nokia 3310. The product was famous in the early 2000s and the company re-launched the same product in 2017 with little redesign and change in the technology. The experiment proved extremely successful primarily due to the popular brand.
Makes emotional connection with Customers
Customers are emotionally attached with their favorite brand. They feel security and pleasure when purchasing a product or using services of the brand with whom they have a positive experience. They are never satisfied if they ever have to use product or services of any other trader and their first choice is always their favorite brand mainly due to their emotional attachment.
Branding provides motivation and direction to Staff
Hiring a skilled and motivated staff is an annoying task for most of the corporations, but a brand rarely faces such issue. In fact, the most talented and skilled persons are always ready to be part of a popular brand and the branded company has to choose among the best in the market. It means the brand is never short of the cream in the market and these talented persons are ready to show their best while working for such company.Download PDF – Brand Marketing Benefits: 8 Reasons branding is important when it comes to Marketing
Joining a brand not only motivates the talented and experienced employees but it also shows them a direction towards their own and the company’s success. The presence of best staff ultimately assists in improving every department including the marketing department.