Whenever a fresh brand is introduced to the market, chances are, several other businesses already offer the same services. When a new mobile phone company kickstarts its services today, several other companies exist.
With that in mind, a new company must strive to stand out among an endless list of the same companies. But what separates the wheat from the chaff in the business world? Brand identity.
What Is Brand Identity?
Brand identity is how the consumer perceives your product. It is the kind of emotions conjured up whenever a prospect interacts with your product.
A brand identity is like the character traits of an individual. What comes to your mind when you see them?
Brand identity includes the color, logo, voice/persona, and the name of your business.
Do you ever wonder why Apple creates expensive devices, but people still buy their products? It is the brand identity.
Established brands are recognized effortlessly, even by kids. A child can spot an Apple device, a Coca-Cola bottle, and Nike products.
What Are the Benefits of a Super Brand Identity?
You might be thinking you are not Apple inc, Coca-Cola neither are you, Nike. You don’t have millions of dollars to spend on marketing your business. Why should brand identity matter to your company?
Keep on reading to understand the benefits of brand identity.
- A Strong Brand is Memorable
Ever asked yourself, who do companies spend millions of dollars in marketing their brand all year round?
A strong brand helps your business become memorable among other companies. It becomes easier for consumers to remember your brand name and refer their friends to buy your product.
Making your brand memorable doesn’t necessarily need you to break the bank. With every single chance, you get to interact with your prospect. Use the opportunity to make your brand recognizable and memorable.
Use a standard logo, tone, colors, and fonts, and it will become easier for consumers to relate to your brand. You should be consistent in all your brand marketing efforts.
The more consumers see your brand over and over, the more they are likely to buy it.
- Help You Introduce New Products
If you are dedicated and passionate about your business, one day, you will want to introduce a new product or even open a new branch. And with an identifiable brand, you always stand a better chance of a successful marketing campaign
If your business is already popular among customers, it is easier to introduce new products. With an established brand, you already have loyal customers who already trust you.
So, marketing new products will be easier since you already have your customers’ trust. Think of Apple inc for instance.
Since customers already trust the previous models, they successfully introduced iPhone 3, 4, 5, etc.
- Creates A Bigger Identity
You sure have come across the adage, people buy brands and not products. A white t-shirt with a Louis Vuitton label will cost almost 50% higher than a plain white t-shirt.
Reason being? People want to be associated with known brands. Prospects will now be associated with your brand and not your product. They will buy anything that has your brand logo on it.
- It Makes Your Company Look Bigger
When prospects keep on seeing your brand constantly on commercials, billboards, online, and anywhere else, they assume your brand is an established company.
Prospects get the impression that the company is big enough to help them sort their needs, and they will be willing to pay more.
Prospects are most likely to pay more for an established company as compared to small companies.
The four factors listed above are just a fraction of the importance of brand identity. A recognizable brand is memorable, creates a bigger identity, helps build trust among prospects which makes it easier for you to introduce new products.
Check out how you can influence your brand identity.