Below are several benefits of branding your business
Appeals to your target market- In the process of developing your business brand you will determine your target market (targeted customer). Once you have determined your target market you can then create a business brand that focuses on their wants and needs. Fulfilling the wants and needs of your target market will appeal and attract them to your business.
Unifies the look and feel of your business- All aspects of your business should have a unified look and feel. For example your store, website, logo, letter head, package design, advertisements and slogan should be unified by providing the same theme or look. Create a distinguishing look and feel for your business so when customers come in contact with your business card, store ads, website or other aspects of your brand they know it is your business because of your unique look.
Creates Awareness- A brand creates awareness of what your business is about and what it stands for. A slogan and a business name for example can tell viewers what the business is about in a few simple words. This is very helpful in the beggining stages of starting your business when it is still unknown.
Builds Customer Trust- When you’re shopping for a computer do you buy the cheaper unknown brand or are you willing to pay more for the well known trusted brand? Many people will go for the well known brand because they trust that they will be recieving good quality products. They may have gained this trust from the business’s reputation, prior experience or word-of-mouth. If you build a brand that has a good reputation and produces good quality products or services customers will be more confident in doing business with you.
Gives your business a more professional look- The way you present yourself can have a huge impact on how customers view you. Having a consistent business brand for your business will give it a more professional and polished look.