If you own a business or have built a company from the ground up you’ve been told you need a logo and messaging. After that came a color palette, typeface, a slogan, a style guide, and more, and more, and more. It’s dizzying.
You’ve been told that your brand should make an indelible mark in the minds of your customers and speak to them on an intimate level. Your brand is the personality, identity, and voice of your company. It conveys the values and perceived benefits of your products and services. When done correctly your brand will build a bond with a customer that produces long-term loyalty.
Sounds really exciting, right? Maybe not. Unless you have a background in psychology and human behavior, which we do, this probably sounds like psychobabble.
Most business owners are so intensely focused on operations, delivery, and customer service they have no time to dig into the “touchy feely” world of branding. They know they want a logo. They may even have an idea about company values. But for many business owners, brand identity and strategy seems like a difficult task without a clear, immediate ROI.
Frankly, that’s true.
Your Brand Is Everywhere
An investment in branding doesn’t translate to revenue the way that, perhaps, two additional delivery trucks do. It doesn’t bring in new sales opportunities like an outside sales team or automated lead generation. It doesn’t process orders, it doesn’t make widgets, and it doesn’t answer customer service calls.
Instead, branding is the first impression your business makes when a customer discovers your products or services. It’s also the second impression, the third impression, and the fourth, and so on in perpetuity. Every time your customer engages your product your brand makes an impact. Every phone call, every visit to your website, and every packaged good conveys your company’s value to the client.
Branding builds the trust your client feels when they see your product on the shelf versus your competitors’.
Branding is the difference between printed brochures that actually engage the customer versus ones that gets tossed in the trash.
Instead of seeing a mysterious white van outside of a customer’s house, they see a professional service vehicle with your brand on it and suddenly feel at ease.
The customer’s decision-making process begins with your brand. For companies that don’t invest wisely, it’s also your brand that pushes customers away.
Branding Is Insurance
In essence, branding is a tactical method to reach and retain customers. Think of it as a sophisticated net that keeps the customer engaged. Your company’s brand identity, messaging, and underlying strategy have as much of an effect on keeping customers as it does on why, when, and how they buy.
Your brand also affects employees and company stakeholders on a deep emotional level. Your company’s mission and values should permeate throughout the organization as much as it radiates away from it. As executors of the company’s service, your brand must motivate and resonate with your employees. It is the glue that binds them together as well as to your company and to the customer. History is full of legendary companies whose brands lost their soul and in turn lost their employees. Equally, there are companies who changed the world by staying true to their brand.
Our advice is to think beyond the logo and the slogan. Don’t get hung up on the cost. The cost of developing your brand is relative to the magnitude of the losses from getting it wrong. The risk of losing your customers to a swift competitor should be reason alone to invest wisely. If your brand could sink the ship why would you try to cut corners? It’s also your brand that keeps it afloat.