Brand identity is a promise, one that’s given from business to client.
Branding goes way beyond a logo or graphic element – it really is about the entire customer experience. Your brand reflects your values and your priorities. Every aspect of your brand identity should work together to establish an emotional, loyal, and trusted connection with clients built from a foundation of mutual values and expectations.
· Lower cost of promotion: Consumers of valued brands become ambassadors who spread positive word-of-mouth at no cost to the brand.
· Higher market share: Valued brands acquire loyal customers who recruit more customers to the brand, increasing the brand’s share of market while reducing customer-development costs and building immunity to competitive attacks.
· Lower employee turnover: Great brands attract passionate employees who pass their enthusiasm to satisfied consumers, who in turn make employees’ jobs more enjoyable, reducing employee turnover as a result.
· Higher stature: Valued brands enjoy a high level of awareness and esteem in the minds of consumers, industry leaders, community leaders, news editors, and financial analysts and investors, which leads to yet higher brand preference and marketplace prominence.
WHY IT MATTERS
“I’ve learned that people will forget what you said,
people will forget what you did,
but people will never forget how you made them feel.”
– Maya Angelou
It is well-recognized that a strong brand fosters relationships between consumers and products that provide a return on investment and will lead to:
· Premium pricing: Consumers pay more for branded items that they believe have higher value and lower risk than lesser-known alternatives.
· Lower cost of sales: Consumers of valued brands make repeat and frequent purchases. As a result, customer-acquisition costs are amortized over a long-term client relationship.