Your brand is your identity. It is how your audience recognizes and remembers you. But why is it important to brand your business or have a good brand strategy? One strategy that will give your business more visibility than your competitors is branding.
Branding involves consistently putting a reputable image of your business in the minds of your audience. Its principal purpose is to promote the recognition of your business and finesse all your marketing strategies. A digital marketing campaign that pays no attention to branding will bring lesser returns or conversion rate than that with a proper branding strategy. Your marketing efforts are incomplete without prim branding. by
There are numerous benefits of branding to every business in Nigeria. Read on to discover a few of them.
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1. Customer Recognition
One notable benefit of building a strong brand is getting customer recognition. Customer recognition easily converts to brand loyalty and more sales. When a customer goes shopping for a particular product or service, they tend to select the products of brands they recognize, even when they’ve never tried it out. Customers are by far more likely to choose a brand they recognize and, when the product or service proves to be exceptional, they are likely to develop more trust for the brand, hence, brand loyalty. Before a customer purchases a commodity, they go through an AIDA process- Awareness, interest, desire, and action. Branding creates recognition and awareness, which helps your business skip some steps in the AIDA process and hence, create more chances for sales.
2. Simple Introduction of New Product
When your business has a strong brand and loyal customers, it will become a lot easier and less expensive to introduce a new product in the market. Proper branding brings loyal customers and audiences. You can easily test out a new product, conduct surveys on the segment of your loyal customers, and adjust it where necessary. With branding, your new product will be easily identified by your loyal customers, and in some cases, your brand followers may anticipate the release of your new products. Pay attention to your branding.
3. Competitive Edge
Branding makes your business unique. It disguises you from other businesses in your industry, and this can become a competitive edge. In the marketplace of probably thousands on businesses your industry, branding makes you stand out and, this can be very beneficial to your business. A typical example of how inadequate branding could affect your sales is the famous Agege Bread. A couple of years back, the Agege bread was the most sought type of bread in Lagos. However, it had no actual brand name, logo, or anything to differentiate the business from others. A few years after other competitors began to create similar types of the product, and with time passing, the popularity started to fade. Imagine if the owner of the Agege Bread branded it- It would have brought uniqueness and more sales.
Having a strong brand will give your business a sense of uniqueness from other brands in your industry and bring customer retention. So even if your competitors try to weaken your brand, your uniqueness will speak for itself.
4. Brand Loyalty and Trust
Another benefit of branding in Nigeria is that it will make your product easily recognizable and hence build brand loyalty. Brand loyalty is basically the propensity of some of your customers to keep purchasing your brand of goods rather than that of your customers. Branding also emphasizes on your organizational values, and your customers who share similar values will have a strong emotional connection to your brand, and hence trust your brand, no matter the product. The best thing about brand loyalty is that it could last a lifetime, and even move to the next generation. It could also bring more customers through referrals (word-of-mouth).
For every marketing strategy, either traditional or digital, branding plays a vital role. Branding can be complex to do, hence the need for a suitable brand strategy for every business in Nigeria. Chorddigital can help you in your branding alongside other digital marketing strategies such as social media marketing, search engine optimization (SEO), pay-per-click (PPC), email marketing, content marketing, public relations, and others. Visit www.chorddigital.com to get started today.
