First two questions might be “what is branding?” and “how important is it for your business?”. The thing is, branding is not just a name, a graphic logo, or how well you interact with your customers. It is a collection of everything as a whole. From the smallest tweet, to your billboards and customer service, it is if you can call it a business’ “Soul”. It is how customers see and perceive your business.
An excellent company name and brand doesn’t just happen. It is actually thought out through a long business process.
So what are the perks if you have a branded company?
If you have a successful branding campaign, this in itself promotes brand recognition. People make business with companies or entities they are familiar with. So in this case, people are okay doing business with you and trust you to provide excellent service in return.
It is a very good platform to create a loyal base of consumers that would choose buying or availing of your products compared to other companies.
With a strong brand behind you, it now creates a referral program. Take for example your average user and have him tell a couple of his friends that he uses this brand. If he is able to convince just a single person but multiply that over your number of customers, the possibility of increasing your revenue is large. This is doing it without any ads marketing. People just do it because they like your company and what you have to offer. They tell their friends what a great experience they’ve had while making business with you.
A very good brand also tells consumers about you and your company. Sort of like a “resume”, and if you’ve had excellent past dealing with other customers and have high approval ratings, than it might be enough that they try out some of your products.
So branding is very broad that it encompasses the entirety of your business operation. And if it has been taken cared of, then it simply advertises itself.