Your business success depends on the quality of your products or services, but branding is what adds value to it. You can have the best product in the world but without people being aware of it, you will not be able to achieve great sales results. In other words, think of branding as a bridge that connects your business and your target audience. If you build a quality, beautiful bridge, people will want to cross it and come to you. If you build a bridge without anyone knowing about it, nobody will even bother finding it.
Branding is what leads your business to success by engaging your customers and prospects. However, there are several mistakes the majority of companies will make when it comes to branding your business. In this article, we bring you 5 common misconceptions about branding to help you avoid them.
#1 My product fits everyone.
When starting a business, the crucial thing to do is to determine your target audience and shape your products so they fit their needs, preferences and lifestyle. Thinking that your business should fit everyone is definitely the biggest misconception.
Successful branding requires you to focus on a small crowd, craft your messages based on their profile and design your products or services specifically for them. Don’t try to appeal to everyone because it will never bring you the results you want. Instead, keep your branding strategy sharp and focused on your chosen niche market.
#2 I need one-off promotional materials.
Promotional materials, such as brochures and banners, are vital elements of your branding strategy. After all, you will need to visit numerous events to promote your business to your target audience. Lacking a visual identity that promotes what you’re doing will not leave an impact on your potential customers.
Also, when you’re creating these promotional materials, keep in mind that they should be designed so you can use them several times. Creating and printing materials can cost up to several thousands of dollars, which could easily be saved by crafting messages that could be used for other events and occasions as well. Your brochures can be different as they are not as expensive as banners.
#3 Customers don’t care about branding.
Many companies assume that if their products or services are brilliant, they don’t need branding. Keep in mind that today’s customers are more informed, educated and self-conscious than the ones 10 or 20 years ago. If a person doesn’t understand your brand values or doesn’t agree with them, they will probably not purchase your products. People need to feel a connection to your business to make a purchasing decision.
Those companies which are not branding themselves will lose the ability to connect with their target audience and create a meaningful, long-lasting relationship with them. Don’t think of branding as something that makes you say you’re the best. Instead, think of it as a way to tell your audience who you are and what you can do for them. Once they get to know you, you will see why branding is crucial for your business success.
#4 Branding won’t bring me money.
Well, maybe you can’t calculate the ROI of your branding strategy, but branding definitely has a tremendous impact on your sales results. If you brand your company and your products or services successfully, more people will want to purchase from you. Having more closed deals is your main sales goal, right? With quality branding, you will be able to convert prospects into customers more easily. Branding allows you to tell the story of your products or services and explain what problems they will solve. Not talking about them decreases the value of your products, no matter how great they are.
#5 Branding is just a strategy.
Branding starts with a strategy, but what brings it to life are the people in your company. After you’ve determined your core values, key messages, visual identity and other branding elements, you should start communicating it to your target audience. Everyone in the company needs to share the same values and communicate the same way to make your branding successful. From the CEO to interns, your brand identity is what connects people and builds a team but also makes a strong impact on your customers and prospects. Think of your brand as a person and let your customers meet that person.
There are plenty of misconceptions about branding and most of them underestimate its importance. This happens because a lot of people think of branding as a process that just promotes what you’re doing. However, a good branding strategy is so much more than that. It connects with your target audience by telling them more about your brand. Keep in mind that people are unable to connect with brands they don’t understand.
Is your brand easy and clear to understand? What makes is unique when compared to your competitors? How would your customers describe your brand? If your customers describe you exactly how you describe yourself, you’ve managed to brand your business successfully.