So, you have a business. The product you sell or service you offer is fantastic in your opinion, yet the sales just aren’t where you want them to be. People do not really know your business name. You wonder what can be done. A strong brand image can put you on track to greater success.
Branding refers to the process by which your business name becomes recognizable to others and evokes in consumers a particular feeling upon hearing or seeing the business name. A brand image is defined as “the impression in the consumer’s mind of a brand’s total personality (real and imaginary qualities and shortcomings).” A strong brand image is a result of effective branding. Why is this important? Here are 3 reasons why successful branding works.
Branding gives your business an identity
Without branding your company is sort of like a faceless entity -- a name without an identity, a building without a personality. Sure, you may offer a product or service people need or want, but many others offer the same thing. Why should they choose to frequent your business? Sales and specials may bring in some short-term business, but unless there is a hook to keep them coming back, they soon fade away. Branding provides that hook. It gives a face and personality to the business. The business becomes more than just a building; it becomes a “being” with an identity. People then can begin to relate to the business on an emotional level. This is how connections happen.
Branding taps into customer’s emotions
People are emotional beings. If the truth be told (and research backs this up), people are motivated by their emotions when making purchases. One study revealed that “44 % of consumers say that majority of customer experiences are bland.” Obviously, this is not the ideal response businesses want from their customers, but it also reveals that consumers view their shopping experiences in emotional terms. Another telling study done by Harvard Business Review stated customers do emotionally bond with brands (when branding is effective, of course). When businesses take advantage of the emotional aspect in their branding efforts, then they have better results.
Emotional bonding leads to loyalty
The impact of your customers emotionally bonding with your brand cannot be underestimated. Research by Harvard Business Review discovered a customer’s relationship with brands can be defined according to four levels of connectedness which begins at unconnected (level 1) and moves up to totally connected (level 4). The study found that those customers who move from a level 3 stage (not completely connected yet “identifying brand differentiation) to level 4 (totally connected) are more valuable to companies than customers who move from totally unconnected (level 1) to level 2 (satisfied but not connected). Actually, they were “52 % more valuable, on average, than those who are just highly satisfied.” The reason for this huge value increase was because customers who are completely emotionally connected transform into loyal fans. The power of loyal customers is contagious. Loyal fans are not lukewarm or stagnant. They are passionate and active. When you have loyal customers, they will work for you. Loyal customers tend to do the following:
- Bring more customers onboard with them.
- Purchase more items from your business.
- Won't ever to switch to a competing brand.
The importance of emotionally connected customers is evident. The good news is the distance between an emotionally unconnected customer to one that is fully connected is just one step away. When companies solidify their brand and make strides to tap into customers’ emotions, then they begin to see an increase in loyal customers. As businesses consider how to strengthen the connection they have with their customer base, it would be beneficial if they first looked at their branding strategy. A solid branding plan initiates the journey to emotional connections with customers.
To learn more about how to improve your marketing strategies, give us a call or send us a note today at Small Dog Creative 661-702-1310!