Why is Brand Identity Important in Marketing?
Take a minute and think of your favorite brands. Can you visualize their logo? Recite their tagline? See their colors? Blue and yellow are synonymous with Ikea. You can’t say Just Do It without thinking of Nike. Whether we’re raving fans of their products or simply resonate with their mission, we all have brands that speak to us.
Of course, many popular brands have resources to ensure they are top of mind. Entire teams and budgets are dedicated to marketing their products and services. But remember – all these brands started out as a blank slate, an idea, and built their identity from there.
Many businesses don’t want to spend their hard-earned budget on branding. It’s hard to gauge ROI on something like a logo or font. After all, if your product is amazing, won’t people just take your word for it? Unfortunately, that is not the case. Competition is fierce. Even if you have stellar reviews and dedicated fans, without branding, you’ll likely get lost in the shuffle.
To find out why investing in your company’s brand identity is critical, read on.
What is brand identity?
Brand identity is composed of the different pieces that come together to make up your brand. It’s the personality of your business: your visual identity, messaging, core values, and beliefs.
All of these elements come together to complement and reinforce your reputation.
For the visual parts of your brand, your company should have a style guide that outlines content, copy, and design. This means selecting your brand colors, logo and logo styles, photo treatments, platform preferences, and writing do’s and don’ts.
This might seem like a lot, but remember, you don’t have to create a brand identity overnight. In fact, we recommend that you spend more than a day thinking about this. If you find coming up with a brand identity overwhelming, consider hiring a professional to create a brand identity for you.
Why is it important to have brand identity?
Brand identity is a core part of your business, but there’s more to it than pretty colors and fun logos. Below, we’ll look at why having a strong, recognizable brand identity is essential to growing your business.
Branding increases brand recognition
Brand identity helps you stand out from the crowd and gain an edge in a competitive market. These days, you’re not only competing with businesses in your own zip code, but with brands on a national and international level. Brand recognition doesn’t happen overnight. On average, it takes 5 to 7 impressions for people to remember your brand.
The more people see and recognize your brand, the quicker they will trust your company. Your brand should attract new customers while making existing customers feel at home. Over time, if customers feel that you are what they are looking for, they’ll likely choose you over competitors.
Poor brand identity hurts your bottom line
It goes without saying that a nonexistent or poor brand identity can hurt your bottom line. First impressions make a difference. Think of this from a customer’s perspective – are they more likely to make a purchase from a business with no branding or a polished competitor?
Worst of all, poor or no brand identity will make you unmemorable. Strong brand identity leads to increased recognition and brand awareness, which in turn should improve your revenue.
Branding supports your marketing efforts and promotes consistency. To stand out in the marketplace, you’ll need a consistent look and messaging across all platforms. Think of everything you use for marketing and audit these assets. This can include:
- Landing pages
- Print materials
- Print and Digital advertisements
- Social media
Look for consistency among these pieces. Is the logo correct? Do the colors follow a palette? Does everything have a similar look and feel?
That’s not to say everything in your marketing toolbox needs to be identical to each other. There is room for creativity! However, your assets need to follow brand guidelines. Inconsistent branding is confusing and may turn customers off from your business.
To keep your social assets in tip-top shape, check out our Social Media Profile Cheat Sheet.
Branding inspires customer loyalty and retention
Ready to launch a new product? Businesses with established strong brands and loyal customer bases have an advantage here. Customer loyalty is the backbone of every business. It’s easier to introduce products to customers who are loyal followers than convince strangers to try something different.
Consistent marketing combined with a strong brand identity creates enthusiastic customers who want to hear from you and make repeat purchases.
Stand out with a strong brand identity
As you can see, investing in your company’s brand identity is extremely important. Building a solid brand requires a lot of effort, dedication, and time to hit the mark. In today’s market, businesses without branding are unmemorable and get lost in the shuffle. Branding boosts your credibility and is often a deciding factor for consumers making purchasing decisions.
If you haven’t begun to build your brand identity, start right now! Take it step-by-step. When you invest time and effort into your identity, it can bring tangible results.