I truly believe that one of the most important aspects of any company is its’ name and logo. When you walk into your local supermarket or shop, you’re bombarded by hundreds of companies that each have their own unique logos and customer appeals. All the packaging you see is appealing to the eye, has catchy slogans, and uses bold logos to build your trust in the company. Chances are though, you already know ahead of time which companies you’re going to buy your specific items from because you feel a special bond with them.
The same thing happens when you buy a TV or a pair of shoes. You’re more likely to choose brands that you’ve heard of and that you’ve built a relationship with. For those companies that make these products, creating that bond is absolutely critical for their sales and recurring revenues.
Look at the internet; in its early years, chances are Google initially got more visitors than other competitors like Altavista simply because they had a funnier name. The word Google is now considered a verb we hear all the time: “Just Google it!”. Their brand name surely played an influential role in their growth and popularity.
That’s why it’s essential you carefully plan out your business’ company name and logo, as it’s a major deciding factor in how well you’re going to do. Your brand can make or break you. You need to decide on things like whether you want a fun, funky name or something more serious and professional. Of course this all depends on who your specific target audience is. I’m going to be putting up a free short course on our website on branding. It will teach you how to get clear about your brand message and uncover your true value that you’re bringing to the world, allowing you to attract your ideal clients. So make sure you don’t miss it!
Having said that, here are a few reasons you might want to consider putting some serious thought into your brand:
It gives customers a unique perception:
It gives you a chance to let your customers see your business for what it really is. It’s your chance to be honest and open about what your company represents. The look, feel, and message are what will separate you from the rest!
It helps you build trust:
As your customers get to know your business they’re going to begin to trust you. However, in order to build that trust you have to give customers a reason to test you out. Your branding has to be spot on because those first customers will pretty much determine how many more (or less) customers you’re likely to receive.
It helps with sales:
Branding will create sales and revenue for your business. The amount of money you’ll make is based on how well your marketing strategies work. Customers will be tempted to test you out, and the results will determine if you make more sales, right?
It’s an actual asset:
A brand is an asset. How you present your business to the public is important. Its’ worth is just as much as its’ revenue and sales. Remember, a lot is on the line; finances, creativity and time. Branding will make the difference between revenue/sales and debt/liquidation.
It builds loyalty:
Good branding will almost definitely create more customer loyalty for your business. Those customers in turn will spread a positive message to people they know, and that influence will introduce new people to your company.
Ultimately, you need to put yourself in your customers’ shoes. Would you buy your products or services from your company? If you’re not so confident you would, then I suggest going back to the drawing board and revising your business structure and name. On the other hand, if you would, then make sure you follow it up with great customer service and also promote your company name everywhere so you can create a reputable relationship.
Here’s to your success…
