Branding is absolutely critical to a business because of the overall impact it makes on your company. Branding can change how people perceive your brand, it can drive new business, and increase brand value – but it can also do the opposite if done wrongly or not at all.
We at Appzia technologies are on a mission to make your brand—the customer’s favorite. And for that, we question, we engage, we disrupt.
Branding is important when trying to generate future business, and a strongly established brand can increase a business’ value by giving the company more leverage in the industry. The result of the branding process is the brand, which incorporates the reputation and value that comes with it. A strong reputation means a strong brand which, in turn, translates into value. That value can mean influence, price premium, or mindshare. The brand is a business asset that also holds monetary value in itself and must have a place of its own on a business’ balance sheet because it increases the overall worth of the company. Although this is a controversial topic and a difficult task for many companies, giving financial weight to the brand is as important as branding itself – this is called ‘brand valuation’.
A good brand will have no trouble drumming up referral business. Strong branding generally means there is a positive impression of the company amongst consumers, and they are likely to do business with you because of the familiarity and assumed dependability of using a name they can trust. Once a brand has been well-established, word of mouth will be the company’s best and most effective advertising technique
When an employee works for a strongly branded company and truly stands behind the brand, they will be more satisfied with their job and have a higher degree of pride in the work that they do. Working for a brand that is reputable and held in high regard amongst the public makes working for that company more enjoyable and fulfilling.
A brand’s reputation ultimately boils down to the amount of trust that clients can have in it. The more you trust a brand, the better your perception of it, the stronger its reputation and, thus, the brand itself. Branding searches for the right way to earn and maintain a certain level of trust between the company and its stakeholders. This is done by establishing a realistic and attainable promise that positions the brand in a certain way in the market and then delivering on that promise. Simply enough, if the promise is being delivered upon, trust builds up in stakeholders’ minds. In highly crowded markets, trust is especially important because it can make the difference between intent (considering to buy) and action (making the purchase).