flux branding

Branding with Benefits

6 key benefits of branding.

Benefits of Branding

 

The 6 essential benefits of branding.

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– if you don’t have a solid brand, you aren’t going to reach your potential. At another level, “everything” refers to the totalizing nature of brand– it’s the sum of all internal and external parts of your business.

Brand is everything. It’s a huge statement. In this essay, we’re going to break down why brand is so important. What does it do for your company? What does it do for your customers? Branding is critically important to building longevity in a rapidly changing market. Read on to find out the 6 key benefits of branding.

> Internal Benefits

 How branding impacts your operations.

1. Talent

Your brand isn’t just for your customers. It’s just as much for your employees. Brand defines your company values, culture, and philosophy. Strong brands rally their teams around a unified mission, resulting in alignment and cooperation. Your brand is about how your company makes people feel– and that affects your employees even more closely than it does your customers. 72% of recruiting leaders worldwide say that the employer brand 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. Revenue

One of the most desired benefits of a brand is its impact on revenues. Branding helps qualify customers more quickly, helping to improve marketing efforts by attracting the right people who are likely to become customers. This in turn has a tremendous impact on sales, allowing them to focus their time helping prospects who are already ready to buy. Further, strong brands lower price sensitivity– meaning their customers give less weight to price. Research shows that 57% of customers spend more money on brands they’re loyal to. If the brand story is compelling, consumers trust that they’re getting real value for paying more, effectively increasing revenue over the long haul.

3. Streamline

A strong brand means you don’t have to figure it out from scratch every time your company evolves. Whether it’s launching a new product or service, expanding into new market territory, or internal reorganization, your 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

How your brand affects your customers.

4. Loyalty

Customer 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, what drives you, allows them to align their beliefs with your company. Engaging with something they believe in is a much stronger motivator for repeat action than simply buying a product or service they want.

5. Connection

Brands use emotional 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. It’s an incredibly effective tool that fosters long term engagement and sticking 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. Recognition

Strong brands are instantly recognizable through visual cues and messages. In a crowded market place, you have just .05 seconds to make an impression. It’s essential that you stand out from the competition. Knowing your brand means that your voice and identity are aligned across platforms, ensuring consistent presentation. The easier it is for customers to know who you are, the better they can make decisions. In fact, consistent brand presentation has been seen to increase revenue by 33%.

The multiple benefits of branding aren’t always obvious. Both internally and externally, branding can have a huge effect on your business. As a way to boost your company culture or increase customer loyalty, a well executed brand strategy makes a major impact.

Branding requires resources, time, and effort, but the potential for long term success makes it more than worth it. With such wide ranging benefits, it’s clear why brand is everything. But it can be hard to determine your brand from the inside. 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.

 

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