Jeff Bezos, Amazon’s founder, once said that your brand is what others say about you when you are not in the room.
It is no secret that in today’s highly competitive and rapidly changing market, your business needs a well-thought branding strategy. This is because an established brand identity helps your business and products stand out from other alternatives in the market.
Apart from this, the growing numbers of digital users around the world mean that businesses have immense possibilities for making their brand stand out in the digital arena.
Let’s have a look at the numbers:
- Today, there are more than 4.54 billion users of the internet worldwide.
- The number of global mobile phone users has now crossed the 5.19 billion mark.
- There were 3.80 billion social media users in January 2020. This number represents a year-on-year growth of more than 9 percent (321 million new users).
These numbers are proof that having a robust presence on social media, along with a brand identity, is crucial for business growth in today’s digital age.
But, what do you mean by brand identity? In literal terms, brand identity includes the visible elements of a brand, such as the brand name, logo, theme, slogan, and website design, etc. In other words, it’s how your customers see you.
Therefore, a strong brand identity is one of the most valuable assets for your business. Still not sure why? Here is why brand identity is vital for businesses to grow in today’s digital age:
1. Encourages Brand Recognition
Brand recognition helps your target audience recognize your brand over others due to your distinguishing product attributes and design elements.
For instance, when you think of soda while watching a movie, what comes to your mind instantly? Coke, right? It is because of its well-established brand identity.
Some of the benefits of encouraging brand recognition include:
- It helps lend a competitive edge to your products in an intensely competitive market place.
- A well-established brand image helps you launch new products easily.
- Strong brand recognition makes your brand recognizable in the eyes of your target audience.
- Through brand recognition, you can create a dedicated customer base that trusts your brand name.
2. Establishes Brand Loyalty and Trust
It is no surprise that when consumers buy products from a particular brand, they put their trust in them. A study by Edelman shows that 81 percent of consumers said that they need to be able to trust the brand to buy products from them.
As a result, when brands build trust among their customers, they reward them in the form of repeat purchases, strong brand loyalty, and lasting relationships.
So, if you’re looking to make your customers stick to your brand through thick and thin, brand credibility is what you need to focus on.
3. Represents Your Brand Values
Research shows that 80 percent of consumers forget branded content after three days. Now think about all the content that you’ve been publishing over the years. Was it leaving a lasting impression? Was it resonating enough to make your brand stay on top of your audience’s mind?
Answering these questions can be a difficult task, so here is a simple way to figure out whether your brand is on top of your consumers’ minds or not.
If your visuals, messages, and actions are communicating your brand’s core values consistently, then your audience will be able to resonate with that message.
This is because your brand values are the beliefs that your company stands for. They guide your brand story, behaviors, actions, and decision-making process.
Not sure how to define your core brand values? Here are the top three ways to discover them:
- Conduct a brainstorming session with your team.
- Look at the brands that you love for inspiration, and think what makes them resonate with you.
- Think about a unique proposition that you can offer to your customers—for example, fast delivery. If your delivery time is short, it means you value time.
4. Reflects Your Brand Commitment and Personal Pride
A strong brand identity shows that you take pride in your business and are committed to succeeding. Besides, it also makes your customers believe that you are more likely to deliver on the promises you make.
Still, wondering why brand commitment is vital for your company? Here is what you need to know:
- Brand commitment gives you the power to influence your brand’s perception in the minds of your customers.
- It helps differentiates you from other brands in the niche.
- It allows you to continue to build equity upon your efforts.
5. Develops a Positive Brand Perception
A business, regardless of its size, should invest a significant amount of time and effort in the process of creating a powerful brand identity. A strong brand identity gives your business a chance to let the customers see and evaluate who you are and what you offer as a brand.
Moreover, the look, feel, and messages conveyed will distinguish you from others, and develop a positive brand perception, thus stimulating positive word-of-mouth.
6. Makes Your Logo Memorable
Brand identity involves different elements. However, the most important of them is your company’s logo. If your business has a well-established brand identity, then your audience will recognize your products with your company’s logo.
To understand the power of a logo, you don’t have to look behind Apple. The simple ‘apple’ logo aptly conveys the brand’s message. Their logo design is sleek, elegant, and memorable, just like their products.
Hence, having a professional logo design is essential for your business as the story of hammering your customer’s brain with your name starts right from here.
A strong brand identity cannot be built overnight. Instead, it takes a considerable amount of time and effort. Be patient, as everything takes time.
However, staying consistent with your branding efforts will allow you to establish an impactful brand identity for long-term success and build deeper connections with your target audience.