This infographic shows a number of ways how branding influences consumer purchase decisions, from brand preference to the conversation and beyond.
HOW BRANDING INFLUENCES PURCHASE DECISIONS
Branding is one of the most important aspects of any business, large or small, retail or B2B. An effective brand strategy gives you a major edge in increasingly competitive markets. But what exactly does “branding” mean? How does it affect a small business like yours?
Simply put, your brand is your promise to your customer. It tells them what they can expect from your products and services, and it differentiates your offering from your competitors’. Your brand is derived from who you are, who you want to be and who people perceive you to be.
Defining Your Brand
Defining your brand is like a journey of business self-discovery. It can be difficult, time-consuming and uncomfortable. It requires, at the very least, that you answer the questions below:
- What is your company’s mission?
- What are the benefits and features of your products or services?
- What do your customers and prospects already think of your company?
- What qualities do you want them to associate with your company?
Do your research. Learn the needs, habits, and desires of your current and prospective customers. And don’t rely on what you think they think. Know what they think.
Because defining your brand and developing a brand strategy can be complex, consider leveraging the expertise of a nonprofit small-business advisory group or a Small Business Development Center.
Once you’ve defined your brand, how do you get the word out? Here are a few simple, time-tested tips:
- Get a great logo. Place it everywhere.
- Write down your brand messaging. What are the key messages you want to communicate about your brand? Every employee should be aware of your brand attributes.
- Integrate your brand. Branding extends to every aspect of your business–how you answer your phones, what you or your salespeople wear on sales calls, your e-mail signature, everything.
- Create a “voice” for your company that reflects your brand.This voice should be applied to all written communication and incorporated in the visual imagery of all materials, online and off. Is your brand friendly? Be conversational. Is it ritzy? Be more formal. You get the gist.
- Develop a tagline. Write a memorable, meaningful and concise statement that captures the essence of your brand.
- Design templates and create brand standards for your marketing materials. Use the same color scheme, logo placement, look and feel throughout. You don’t need to be fancy, just consistent.
- Be true to your brand. Customers won’t return to you–or refer you to someone else–if you don’t deliver on your brand promise.
- Be consistent. I placed this point last only because it involves all of the above and is the most important tip I can give you. If you can’t do this, your attempts at establishing a brand will fail.