Most businesses start up for the purpose of providing a product, service, or opportunity. So, when businesses begin to market their offerings, how does branding fit into the equation?
While a quality product is the cornerstone of a successful business, a brand is the framework that supports and showcases that product to the world. The inner mechanics of your business may be where the actual selling happens, but branding is essential to attracting the clients you need to make those sales.
Together, a great product, a plan to sell it, and a distinguished brand to market it make the perfect combination. It’s possible to sell products without a brand backing them, but, when you think about the most successful businesses, those that come to mind probably have built a powerful brand that makes them stand out.
A Brand Helps You Find Your Audience
Ideas for businesses usually come from a desire to solve a specific problem for a certain group of people. Most successful businesses have a narrowly defined target audience and are not trying to appeal to everyone. But sometimes, it can be difficult to define who you most want to reach with what you’re selling.
That’s where branding comes in and works its magic. A brand is a way to tell your business’s story, both visually and with words. Branding gives you the opportunity to share the personality and values behind your business, and this helps people with those same values find you. This is important not only for gaining an audience but also for keeping it in the long run – 89% of shoppers stay loyal to brands that share their values.
If you’re focused on simply selling a product and not building a brand along with it, your messaging is likely very sales-heavy. Consumers are constantly being sold to. Instead of focusing on what you can get from them, brand-building allows you to focus on what you can give, and after you’ve built a foundation of trust with your audience, they will be more likely to hit “Buy Now” on your next offer.
Avoid Being Price-Shopped
Most products on the market are not without competition. When you think about your own shopping behavior, what factors determine which company you end up purchasing from? If there is nothing differentiating the large number of products you have to consider, you’ll probably end up deferring to price.
Your brand is an opportunity to stand out from the pack. Aside from catching the viewer’s eye, a brand gives you the tools to create a reputation over time. As your business grows, consumers eventually get to know what it stands for and what they can expect from it in terms of quality, customer service, and standards. All of these elements tie into your brand’s identity, and they make it easier for people to choose you over competitors when the time comes to make a purchase decision, even if your prices are higher.
Branding Sets You Up For Long-Term Success
Selling products in the short-term may be a necessary goal to launch your business, but branding has the ability to set up your business for success in the long term.
Brands tend to shift and change over time, just like people do. If you strictly focus on selling products and neglect your brand, you’ll likely have less flexibility when you want to pivot. Businesses that have built brands with loyal followings have an easier time shifting gears or heading in a new direction.
For example, MVMT Watches was founded in 2013. The company quickly gained a reputation for its chic wristwatches as a result of both a quality product and modern lifestyle branding. After a few years of success, MVMT started selling fashion eyewear. Because their brand had already gained a reputation for superior innovation and trend-setting style, they had the freedom to expand their offerings to other accessories without needing to start from scratch
The importance of a great product for your business cannot be overstated, and outsourcing the work of creative branding allows you to focus on the business of selling. Deal Design specializes in building brands that get noticed.