Before we get into the definition of brand identity and why it is so important for small scale businesses, we need to discuss a little bit about brand
A brand is the name, term or features that distinguishes the goods or services of a particular company from those of other companies within the same industry. It reflects peculiar attributes of a company highlighting its strengths, values and passion and as Jeff Bezos succintly puts it ‘Branding is what people say about you when you’re not in the room’
And so a company’s brand identity simply relates to the visual aspects that form part of the overall brand. It comprises of logo, name, type face, colors, tone etc.
So let’s take a look at why Brand Identity is a must for small scale business
BRAND IDENTITY CREATES A SENSE OF TRUST
It is important for a business no matter how small to have a professional and well positioned outlook. This tends to build trust and credibility with the customers they want to bring in.
Human beings are emotional beings and so will unconsciously valuate brands and access whether or not they are legitimate before they think of doing business with them. If your business appears polished and legitimate enough, it will attract customers more easily than other businesses that don’t fulfil this criteria
BRAND IDENTITY HELPS ACCUMULATE FINANCIAL VALUE
Most publicly traded brands tends to have strong brand identity. They are trusted and are viewed by their customers as a legitimate business. This guarantees future businesses as well and so the greater a company’s devotion to build its brand value, the better the financial return from its efforts.
And so in order to become a profitable business and maintain a healthy stream of income, your business has to position itself as a leader in your industry and that starts with a strong brand identity
BRAND IDENTITY HELPS GENERATE NEW LEADS
Having a good brand identity builds trust and credibility. This makes it easy for people to refer your business to other people since it is perceived to be trust worthy.
Again, here is a clear cut example of why. Is it possible for you to recommend a shoe brand that you couldn’t quite remember its name to a very good friend of yours? Of course the answer is no, the aim of building a good brand identity is to create value which in turn will create a lasting impression in the minds of target leads thus drawing them in and converting them to actual customers.
BRAND IDENTITY IS KEY TO BRAND RECOGNITION
Associating graphic images with your brand has a positive way of boosting brand recognition. We often remember more of what we see than what we hear. It is good practice to have meaningful and memorable logos associated with your brand. This puts your business on top of the minds of potential customers that requires the goods or services that you render
On the Other hand, if your business has a difficult to pronounce name or an awkward looking logo, it then becomes rather challenging for customers to remember or for clients to hire your services. This is why it is often recommended to always choose easy to remember names and pleasant graphics when building your identity.
BRAND IDENTITY IS PRECURSOR TO ADVERTISING
Advertising is key for any business. In today’s business climate dominated by digital media, having a healthy brand identity that resonates with your target audience is a sure fire way to hit Top marks with your advertising goals and boost your revenue.
To remain competitive, your brand must be able to create a definable impression in the minds of its customers with a strong brand identity
BRAND IDENTITY IS A MAJOR SOURCE OF INSPIRATION FOR EMPLOYEES
You may not realise it but your employees are there for more than just work, work , work and more work. They need to be inspired and motivated. When they understand the vision, mission and strategic objectives of the business then your business will grow in a positive direction but if they don’t have a basic understanding of what your business is set up to achieve, it will be difficult to create a memorable impression for the customers since your employees don’t even understand the business
So there you have it, we have enumerated reasons why brand identity is very important for a small business. Are there other reason(s) you feel we left out? Kindly use the comments section, we look forward to hearing from you.
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