Trust is the Corner Stone of Brand Value

09.09.20 02:20 PM By Stuart Forrester

What Is a Brand and Why Is it Important?

When consumers have choice, they will choose brands they trust over those they do not, so what is Brand?

Brand is the new buzzword in the world of marketing. It is said to be the company’s most valuable asset. Every business wants to establish itself as a leading brand in a market with a loyal and trusting customer base. 
But what is a brand, anyway? Let’s find out!  

Brand can be a confusing term. A quick search on the internet will give you various definitions. In simple words, a brand can be described as the way a company or individual is perceived by those who interact with it. It is more than the name, logo, or the strapline of a company. Instead, it is the feeling that people associate with the business. 

A brand is not something tangible – yet it is one of the most powerful business tools that derive value to the products or services offered by a business. You can think of a brand as a perception of your company in people’s minds.
Apple, Coca Cola, Adidas, and Nike are all examples of brands. These companies rely on their brand to sell their products. For instance, while Nike and Adidas may market their different lines of products, the principal commercial value of their merchandise comes from their brand. People buy their products simply because they are Adidas or Nike merchandise – this is the power of the brand!

How Brands Affect Businesses? 

While small to medium-sized enterprises may not be able to match the brand status of industry giants, such as Nike or Adidas, it does not mean that branding is not for you. You can build a brand for your business regardless of its niche and size. Take a look at how brands affect businesses and why you must focus on building a brand for your business.    
Branding Helps Connect With Your Customers

Helps Connect With Your Customers

Branding is an ideal way to get your message across to your audience and connect with them. This is an essential feat for any business, as nothing can keep you from thriving if you can connect with your customers on a personalised or emotional level! 

Improve Response Rate, Boost Sales, and Increase Revenue

Improve Response Rate, Boost Sales, and Increase Revenue

Brand strategies can have a direct impact on customer buying decisions. Many people buy services and merchandise simply because they are associated with a certain brand. Therefore, building a strong brand can help you increase sales and generate higher revenue.

Increases Customer Loyalty towards Product or Services

Increases Customer Loyalty towards Product or Services

Customer loyalty transcends particular products or services. If your customers are loyal to your brand, they will be interested in all products or services you offer. They will make the buying decision based on their experience with your brand rather than particular products or services.

Branding Provides New Business Opportunities

Provides New Business Opportunities

A strong, ideally positioned brand can help you venture into new business opportunities. You can consider extending the line of your products or services without having to build a customer base from scratch.

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the Bottom Line

While building a brand is essential for all businesses, it is not as easy as you may have imagined. It comes with a certain set of challenges, which is why many businesses choose to work with branding and marketing agencies. 

If you want to build a brand and require services of a reliable branding and marketing agency, look no further. We can help you build a brand and emerge as a market leader.