When you see small, colorful circular chocolates; you don’t have to check the signature “M” to tell what they are.
You know they’re M&M’s.
When you see the golden arches that band together to make a letter M…
You know it’s McDonalds.
Even without seeing the name of the product, the name of the business instantly pops into mind; along with the feelings and sentiments you have for them.
That’s the power of branding.
What is Branding?
But what exactly is branding?
Let me help you better understand what branding is by starting off with the definition of a brand.
A brand is a depiction of who you are as a business.
It also illustrates how you wish to be perceived. Brands exist only in the customer’s’ minds. The sum of all customers impression about you is what your brand is.
Branding, on the other hand, is a companies’ marketing practice to create a name, design, symbol or logo to easily identify a company with. Through branding, a product is identified and easily distinguished from other products and services.
Branding gives customers a memorable impression. It is a way to provide customers with what is to be expected from a company.
Branding helps you
- Stand out,
- Be distinguished, and
- Choose why you are a better option because of what you can offer.
Branding is an essential asset for a company. It helps in developing and leaving a lasting positive image and impression in the minds of consumers.
Branding should also be integrated into online activities, especially for Amazon FBA sellers. With branding efforts, a brand’s reputation goes above and beyond original product services and offerings. This allows for tons of revenue brought forth to a brand.
Why is Branding Important?
Branding is highly critical for the success of any business.
Branding delivers an overall impact to a company. It is so pivotal that it can change the way consumers see and perceive your brand. It can also be used to increase brand awareness and drive in new businesses.
A lot of Amazon FBA sellers make the mistake of not making a conscious effort with branding. They think that people slapping a generic logo on a product is enough.
But it isn’t.
And with so many people selling the same private labeled product as you, branding is one of the biggest factor that sets you apart from everyone else. It also means avoiding the race to the bottom by offering the lowest prices.
Here are 3 reasons why branding is crucial for your business:
1) Branding Provides Recognition
One of the most definable reasons why branding is important is because of how it helps a company gets recognized and known to people. To bring a face to a brand, a logo is created. A vital element of branding is a company logo.
However, logo generation should be done professionally.
If you want your brand to be taken seriously, make the necessary efforts to provide a professional logo design that is memorable, impressionable, and catchy to a consumer’s attention.
LEGO is an example of a brand that has built recognition over the years.
LEGO started in 1939 just as a brand that makes wooden toys in Denmark. But with great branding, it has turned itself into a multi-billion dollar company around the world. From making toys, LEGO has now a theme park, movies, and even a factory where it allows customers to build custom creations.
All of these are made possible because of its iconic design, font, and constant creativity of branding.
2) Branding Attracts New Customers
Strong branding will help your business get a positive impression and leave familiarity and dependability in your brand. Getting business referrals will be a breeze when people know you in an affirmative way.
With an established brand, word of mouth comes easy and it works wonders in advertising your brand even without you moving a finger.
Just like in building your brand in the Amazon marketplace, a door can open up externally.
You can start up as a newbie and develop a product that can sell in Walmart or other large retailers nationwide.
If you properly brand your product, use a platform to sell, and deliver a killer brand experience; you can grow your business exponentially in more ways than you can imagine.
3) Branding Develops Trusts
How you present yourself helps you win trust among your competitors.
Branding allows you to appear professionally in the eyes of consumers. Depending on how you strategize your branding, consumers will trust your company and what you have to offer if they see you as someone is is well-polished and professional.
People are more likely to trust a brand that exudes familiarity and consistency.
If you are a buyer, what would you rather get – an iPhone or an unbranded mobile phone?
The answer is simple, iPhone all the way!
Apple has strongly identified the iPhone as the mobile phone to beat. The Apple brand speaks volume of professionalism and higher quality because we know it. We are familiar to it.
When you see a product that has no brand, you will feel that the item is of lower value and quality.
You might even think that they will not offer after-sales support since you do not know who they are and who created them.
And there’s no feeling that can be connected to the product without a brand name attached to it. You lose the ability to connect with the customer and build an audience that would talk about your business to others.
The importance of branding to your business is not something that you should keep a blind eye from. Building a brand is critical to solidify your business’ chances to succeed.
These are just some of the reasons why branding is important, but they all point to you starting on building a brand.
If you are a digital entrepreneur or an Amazon FBA seller, it’s time to consider bringing branding into your business. Branding should be the core and building block that you should focus on to cement your place in the competitive world we live in.
Wilson is a serial entrepreneur that helps transform ecommerce businesses into scalable and sellable brands. He is also an avid fan of personal development, entrepreneurship, and mentorship.