First and foremost, we need to understand what branding is. Branding is an identity. It is as unique as your thumb print. The more unique your brand is, the better your prospects in making it big in the market. Branding can also be said to be all activities that seek to give an identification to one’s business entity.
The uniqueness of a brand is such that it speaks even when no one is talking about it. Talk of coca cola. Talk of Benz. Talk of I-phones. Talk of Microsoft. Talk of Unilever. Talk of Kasapreko. Talk of Koko king. Talk of Blue skies. Talk of Latex foam. Talk of polytank. Talk of Keysoap. The list is unending. The mention of these brings some unique product to mind.
Even among individuals, the mention of a person’s
name brings something to mind. That effect it creates is the person’s brand as
an individual. Who you are is your brand? The same in business too. When
someone meets you and is asking about what you do, it is the grounds for you to
sell your brand.
Now to fully understand why a brand is important, let’s read this:
Two shop owners rented a store to sell general
household items. Both owners invested so much in terms of what to sell in the
Shop 1 decided that to give discounts to the buyers in its first month of operation. Soon it was making some new customers daily.
Shop 2 however decided to renovate the backside of its shop as an amusement park for kids when they came with their parents. The kids could play and have fun whilst their parents did shop. Soon, shop two was also making profits as expected.
By the third month of operation, shop 2 had so many customers trooping in such that shop 1 was losing out in business. Most buyers chose shop 2 because they wanted to bring their kids along and they could get all they wanted too.
can we see in this case study?
- Shop 2 has a brand and a package that is more attractive than shop 1.
- Shop 1 was thinking low prices would get more clients.
- Shop 1 thought the customers can save on their budgets because of the discount.
- Shop 2 wanted to create a lasting impression on customers who brought their children.
- Shop 2 wanted to keep parents from distractions in handling kids whilst shopping.
- Shop 2 wanted the kids to always push their parents to come shopping.
This is why shop failed.
Shop 1 invested in immediate gratification. Shop 2 applied emotional appeal. Immediate gratification is the act of giving a benefit instantly in the form of discounts or even free items. This seldom works though to some extent it would. The emotional appeal however would always work because it touches the emotions of the buyer. Every customer will remember how you made him or her feel and not how much you sold the product to him or her.
Enter a bank: Get to the entrance. A security officer opens for you. You enter and a lady approaches you with smiles and says “welcome, how may we help you?” She then directs you to the place where you can get served and you are good to go.
Get to another bank: You enter at your own accord, look around and sort yourself out by asking someone where to go. You get done and leave. Of the two banks, you are likely to return to the first because the bank’s brand is built on customer service.
Low prices don’t guarantee customer satisfaction. If it did, i-phones wouldn’t
sell at all. That is the power of a brand.
This is the reason why restaurants charge higher
than ‘chop bars’. Restaurants charge
higher and still have customers trooping in because of how they make you feel
when you visit. The way they handle the customer’s orders, serve customers,
present the bill and all shows people committed to the brand. No one complains
of the cost. They still choose to go there. For the ones who fail in business,
all they care about is the food and nothing else. End of story.
In summary, a brand that touches emotionally and would thrive in any market will do you good. This is why branding is important in marketing:
creates user loyalty: Users will not want to move away no matter the distance
or extra cost. They want only your service or products and nothing else.
emotionally connects your target customers to your products: once the brand is
people centered, it would attract the right people to you.
confirms your credibility and makes you stand out: The way you build your
business makes clients trust you to deliver. The anything goes approach doesn’t
work and so you must know what you want for your business and do it
consistently. It will pull in results ultimately.