TO CHARGE A PREMIUM ON YOUR PRODUCTS OR SERVICES
In business, how you package something is really important. It’s no secret that brand name products command a premium over generics. Not only that, but a great brand creates brand loyalty, and we all know that it’s far cheaper to serve and delight your existing customers again and again, than it is to go out and find new ones. That’s what a great brand can do for you.
TO KEEP YOUR BRAND FRESH
Brands change and evolve and need to adapt their image to stay fresh. Companies should change their corporate identities every seven to ten years to make sure their brand is representing them well and is not outdated. Is your brand in need of a refresh?
YOUR BUSINESS IS EXPANDING
If your small business is growing (let’s hope so!), you may need a rebrand to reflect the larger, more sophisticated business you are now operating. You’re now competing with other more established brands in your area, and you need a brand that differentiates your product or services and sets you apart from your competitors.
IT ADDS VALUE TO YOUR BUSINESS
Investing in your brand identity and creating a strong brand adds value to a business. The sale of your business down the road will be bolstered by the investment you make today in your brand identity. This is what brand equity does for you. Maybe you’ll want to franchise your business down the road. Same thing applies here.
The bottom line, a recognizable brand is worth more. It can be developed over time through good customer service, fulfilling your brand promise, meeting expectations, and consistent application of a well-designed identity. Part of meeting those expectations is looking professional, and a great visual brand identity makes you look professional.
Question: Do you see brand identity design as a cost, or an investment?
Let me know in the comments below.
Image Source: raconteur.net