Investing in Branding Makes a Big Difference

Studies showing how investing in branding can make a difference. When you’re running a business, investing in a professional to help you with your branding then it can seem like a costly and unnecessary expense – unless your brand is incredibly outdated a rebrand rarely feels like an essential. But the thing is, it’s probably a more crucial tool for growing your business than you think.
Why a brand matters? Having a lacklustre brand or one that looks home-made and generally unprofessional will make people question the quality of your service or product – if a company can’t be bothered to invest in itself, why should they?
In today’s market, the internet means the consumer is confronted with an abundance of choice from entering a simple search term – and your business only has a few seconds to make a good first impression. If you website, product and brand don’t look the part, it’s likely you’ll lose out to a competitor who has taken the time to invest in their branding and aesthetic appeal.
There is a lot of power in perceived value – branding can make a huge difference in the way people perceive the quality and thus the value of your business. A great example of the principle of perceived value is wine; various studies demonstrate this – if people are told a wine is more expensive, they will rate it more highly than a cheaper wine BUT ONLY if they are told the prices, otherwise there’s no difference. Also if people are told a wine is more expensive they will have increased enjoyment of the wine – both on a subjective level and neurologically.
The pure perception that wine is better actually leads to us experiencing it as tasting better. What this translates to in business terms is people are more likely to desire high-market branded products –by creating a high-end, professional looking brand customers will believe you offer a higher end product.
Basically, perception matters. You can offer the same product but if you present it differently it makes it more attractive. It may not be rational or a conscious process but this is the simple principle the entire marketing, design and advertising are based on.
Still not convinced it’s worth the spend? After an in-depth analysis the financial experts at Credit Suisse reported that a smart and solid brand offers a genuine, tangible competitive edge; to quote the report directly.
‘Companies that focus on brand building consistently generate outsize, long-term growth, profitability and return’.
Why hiring professionals for your imagery makes a difference? It can be difficult to part with large sums of money for services like high-end designers or photographers – often because it feels like something you could do yourself. Have faith that your investment will pay off in the long run – websites and brand designs that are made by amateurs, look amateur. Professionals understand the market and should be able to easily communicate your brand– they do it every day, you may know your business but they know design.
Getting the feel and look of your brand just right is especially important if you’re attempting to take your business to the next level – adding a more sleek/professional look to your brand can attract higher calibre clients. Taking the time and effort to invest in your brand demonstrates that you are taking your business seriously and conveys that message to others, making them more likely to act accordingly.
Coming from a person who creates brands for over 3,000 products in the FMCG arena, and oversees 27 brands. My experience in this area becomes vitally important to my role as creative director and as national marketing manager.
For more on me visit www.webfx2.com.au

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