Brand identity refers to the way you want to portray your business to customers. Brand identity is not the same as brand image. In fact, a reputable brand image can be created through strong brand identity. Large companies spend millions on building a strong identity for people to reason with.
Even if you are a small business, you should focus on building a brand identity to eventually conquer the market. Look at the reasons why creating a brand identity from scratch is highly efficient for every business, irrespective of its scale.
- Creates Brand Awareness
Without a solid brand identity, your brand will never be recognizable. Start by designing an attractive logo attractive logo with brand characteristics. The logo design and colors are key components that make your business easy to spot.
When you are able to create a unique brand identity, people will associate your business with a particular color. For instance, the iconic red hue is associated with Coca-Cola.
Continued recognition will make people embrace your brand. Customers will begin trusting your brand more. Your brand will turn into a household name without you even realizing it. Here’s what you can do to make your brand easily recognizable:
Design the logo of your brand not because every business is supposed to have one. Instead, focus on conveying your brand’s values and message through the logo.
Concentrate on the name of your company: The name of your company should be something that can strike a chord in people’s minds. It should give people an idea about your products and services.
- Creates brand loyalty
Today, there are millions of brands selling the same products and services. Every industry is up to the brink of competition. In this scenario, building a brand identity has become more critical than ever. It’s because brand identity makes you distinguishable.
Brand identity creates the potential to convince customers that you have something unique. Your customers will be able to connect with you quickly, and it will lay the foundation for a strong relationship with them. Once they feel your brand’s values align with theirs, they will be attracted to your business. Consumers will feel more comfortable and confident about choosing you over others.
If you are able to keep the connection with your customers alive, it will lead to long-term relationships. Ultimately, you will see an increase in customer retention and customer loyalty.
- Increases Revenue
A robust brand identity can have a direct impact on sales and revenue. When your existing customers are more aware of your brand, they won’t have trouble recommending your brand to acquaintances. Buyers who feel emotionally connected with your brand are 26% more likely to recommend your brand to others than satisfied customers.
No matter how many advanced marketing techniques you use, word-of-mouth advertising will always remain effective. With an expansion of your customer base, you will also see a rise in your sales. Eventually, it will translate into increased revenue.
Building a brand identity from scratch might require a significant part of your budget. However, the high ROIs through a successful brand identity will suffice for it.
- Benefits Product Launches
No matter your industry, your business will introduce new products and services in the market from time to time. When your brand has a unique identity, you don’t have to worry about whether it’s a suitable time for a product launch.
When you already have a loyal customer base, it will be easier for you to test a product or service in the market. People will already have faith in you and won’t hesitate to try your products or services.
You will have to think of strategies to promote your new products and services. But you will be saved from convincing complete strangers that they should try something new.
Once your existing customer base is satisfied with your new products, they will take the responsibility of promoting them. A strong brand identity can help you develop an enthusiastic customer base with a bit of consistency in your inbound marketing techniques.
- Filters Out Irrelevant Leads
While every brand tries to increase its consumer base, it’s true that you don’t have to do business with everyone. You will have a specific target audience comprising people aligned with your core values.
For instance, you sell formal trousers for men. You will not want to target those college-goers who prefer flaunting their ripped jeans everywhere. A well crafted brand identity will ensure that you are able to specifically attract your target customers.
Therefore, it will be easier for your business to close sales and build relationships with the right customers. A thoughtful brand design will handpick the best customers for your business.
If you still haven’t started working on your brand identity, pull up your socks now.