The Importance of Building a Brand
Brand Awareness vs. Sales
Today, a brand is more important than any time in the past 100 years. Beyond a memorable logo, good branding is known to increase the value of a company.
What’s more important: brand awareness or sales? Should the focus be to make brands known to potential customers or to simply acquire leads and generate sales?
Only when you make an effort to make your brand known to your potential customers will you be able to make sales and ultimately generate revenue.
Let’s put it this way – brand awareness is the springboard or foundation to your marketing efforts and subsequently your sales.
Even though products have lifecycles, brands outlive products. While they create uniform quality, they also build an experience and credibility.
Branding on a paper cup is the ideal way to help people identify and recall your company’s brand. There may be hundreds of producers with similar products to yours, however, the kind of marketing strategy you adopt is what shapes your brand awareness and brand recall.
For example, think of luxury cars. For sure, three to five brand names would have popped up in your mind in the very first second after being asked. That’s because certain brands have such an impact on our lives that they get etched in our memory forever.
Benefits of Building a Strong Brand
Building a strong brand is important because it:
- Improves Recognition: One of the most important components of a brand is a logo or the face of a business. It is what people instantly recognise upon coming in contact with it. A simple yet professional logo is enough to potential customers a desired impression of your company.
- Creates Trust: It’s true that people are most likely to purchase from a business that appears polished and legitimate. To give a brand the professional image it deserves, a lot of marketers put the logo on business cards, t-shirts and paper cups. Passers-by and others who encounter the logo can easily identify the business as a trusted entity.
- Inspires Employees: As a company when you make your employees understand the mission of the business, they’re more likely to feel the same pride and work towards achieving a common goal. Having a strong brand is like turning the company logo into a flag the rest of the company can rally around.
- Generates Customers: Lastly, the most important thing a brand does is generates business and customers for a company. Whether you’re a small, large or thriving enterprise, you can establish yourself as a leader in a particular industry by building a strong brand and starting with a strong logo.
As you can see, brand awareness is the forerunner to more sales. Focussing on just getting leads with little to no focus on awareness may bring results in the short-term. However, if you want to see results in the long-run, you need to integrate brand awareness and sales in your strategy as both their roles are complimentary.