Business branding has never been so important. With online stores and “virtual” service businesses popping up daily, competition for customers is fierce. Consumer spending habits are also changing, with a shift to more conscious buying occurring. What your business stands for and the promise you give to clients is what will set you apart from the crowd.
What is business branding?
Branding is more than a logo and consistent colours on a website. ‘Brand’ encompasses who you (your business) are, what you stand for and what customers can trust you to deliver. It is the values you embrace and how you express those.
It is also about understanding your target markets – who are your customers, what do they stand for? How can you align to meet those needs and create a deep connection? This is where design and tone of voice is important. The look and feel of your branding needs to reflect that of your audience in order to resonate.
Why has it become so important?
Business branding is nothing new but with so much competition, differentiating your business is the key to success. The 2022 Shopify The Future of Commerce Trend Report refers many times to the changes in consumer behaviour. Consumers are willing to pay more and accept slower delivery times to buy from brands that they align with, in fact 52% of global shoppers are more likely to purchase from a brand with shared values. Sustainability and environmental impact is also a huge driver in consumer choice. Online searches for “sustainable goods” have risen a whopping 71% globally since 2016.
Now is the time to compete with brand, not with price.
What can you do?
If you don’t already have documented branding guidelines or a brand strategy, get to it! You may already know what your business stands for, why you are in business, who your target market is but documenting it means that everyone who works with you can remain consistent. It’s a reference point for you to always come back to. For example, when working on new ideas or taking on a service provider you can ask yourself, “does this new product / service / contractor align with our brand?” A strong brand strategy makes a great decision making tool.
Focus on customer retention and building a community around your brand. You want people to be talking about your business, but you can influence what they say with your branding and the interactions you have with customers.
Check out The Ultimate Branding Guide – an easy to follow guide to help draw the details of your branding out. If business branding is an overwhelming task or you simply want a stand out brand like the Redlands Coast Chamber of Commerce, the team at We Virtual can help. Whether it’s a new brand for a business concept, a bit of a brand refresh or you need a branding strategy for your already successful brand, our team has the skills and experience to make that happen. Give us a call today on 0412 835 673 or email us at [email protected] to set up a no obligation free consultation.
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