It’s often said that brand is everything.
The meaning is twofold.
At one level, “everything” refers to the make-or-break success of branding and rebranding campaigns – if you don’t have good branding, you aren’t going to have a competitive edge and reach your potential. At another level, “everything” refers to the totalizing nature of branding.
It’s the sum of all internal and external parts of your business. And the benefits of branding impact both.
The 6 essential benefits of branding
Brand is everything. It’s a huge statement.
In this essay, we’re going to break down why branding is so important – and share some of the benefits of branding.
- What does it do for your company?
- What does it do for your employees?
- And what does it do for your loyal customers?
A strong brand strategy is a critically important part of building longevity in a rapidly changing market. But longevity isn’t the only benefit of branding. As a top branding firm in Los Angeles, here are some of the other benefits our clients experienced after letting us build their brands:
Internal benefits of branding
Branding impacts the very spirit of your company, which impacts your day-to-day operations.
1. Better, more engaged talent
Your brand isn’t just for your customers. It’s just as much for your employees. A part of your brand strategy process should include defining your company values, culture, and philosophy. Strong brands rally their teams around a unified mission, resulting in alignment and cooperation.
One of the benefits of branding is making people feel something for your company – and that affects your employees even more closely than it does your customers.
In fact, 72% of recruiting leaders worldwide say that employer branding has a significant impact on hiring. People want to work for a company that they know stands for something and aligns with their own sense of purpose.
2. Increased revenue
One of the most desired benefits of branding is its impact on revenue. And this is three-fold.
Branding helps qualify customers more quickly, helping improve marketing efforts and decrease acquisition costs by quickly attracting the right people who are most likely to become customers. This in turn has a tremendous impact on sales teams, allowing them to focus their time on helping prospects who are qualified and ready to buy.
Further, another surprising benefit of branding is lower price sensitivity. This means customers give less weight to price when they are purchasing from a business with an intentional brand identity.
Lastly, branding goes hand-in-hand with increased revenue because it creates loyalty and repeat customers. It’s much easier to re-engage an existing customer than a new one. And research shows that 57% of customers spend more money on brands they’re loyal to.
3. Streamlined product launches and marketing efforts
The benefits of a strong brand mean you don’t have to figure it out from scratch every time your company evolves.
Whether it’s launching a new product or service (and navigating product marketing vs brand marketing), expanding into a new market territory, or managing a new acquisition, your established brand paves the path forward.
It acts as a guiding light that empowers better decisions, streamlining complex business changes and ensuring that stakeholders are all on the same page.
External benefits of branding
Your brand affects your customers on multiple different levels.
4. Increases loyalty
This is one of the benefits of branding that straddles both internal and external parts of your company.
Customer brand loyalty is the natural effect of a positive experience, product satisfaction, and the perceived value of your offering.
Getting customers to buy is one thing– getting them to return again and again is another. While marketing may get people in the door, branding is what really cultivates loyalty. Loyalty can only be formed if customers have a reason to believe. Knowing what you stand for and what drives you as a company allows them to align their beliefs with yours.
Engaging with something they believe in is a much stronger motivator for repeat action than simply buying a product or service they want.
And as your brand loyalty grows, so too does your brand reputation.
5. Creates a stronger connection
Brands use emotional branding motivators to elevate transactions to memorable experiences. When it’s more than a purchase, people are driven to action.
They’re not just buying a car, they’re buying adventure.
They’re not just buying a computer, they’re buying innovation.
They’re not just joining a gym, they’re joining a community.
This is an incredible benefit of branding that fosters long-term engagement and staying power in a crowded market. A huge part of branding is about figuring out what feeling you want to inspire in people, then engineering the response.
We’ve written extensively on the powerful relationship between branding and emotion– check out this series of articles for more information.
6. Improves brand recognition
Strong brands are instantly recognizable through visual cues and messages.
In a crowded marketplace, you have just .05 seconds to make an impression. It’s essential that you stand out from the competition.
Having a clear brand strategy process means having a plan to align your brand voice and identity across all platforms and mediums, ensuring consistent presentation. The easier it is for customers to know who you are, the better they can make decisions. In fact, a consistent brand presentation has been seen to increase revenue by 33%.
Ready to experience the benefits of branding?
The multiple benefits of branding aren’t always obvious. Branding can have a huge effect on your business – internally and externally. Whether meant to boost your company culture, boost sales, or increase customer loyalty, a well-executed brand-driven strategy makes a major impact.
As such, you shouldn’t think of a branding or rebranding campaign as a secondary part of marketing. We are a branding firm in Los Angeles that’s dedicated solely to crafting exceptional brands.
Branding requires resources, time, and effort. By enlisting an experienced, professional team with a proven process, you can let your internal team focus on their primary roles. Partnering with a trusted agency helps bring out the authentic core of who you are. At Flux, we help companies bring their stories to life. If you’re ready to take your brand from now to next, we’re here to help.
The potential for long-term success makes a branding campaign more than worth it.
In need of branding services today for a stronger brand tomorrow?