For a competitive advantage, consider the following reasons to take control of your branding.
1. Consumer loyalty: Many consumers choose Apple products because they are innovative, modern and user-friendly. Others prefer Samsung products because they are well priced, customizable, and highly compatible. Creating a brand identity is like starting a friendship. It lets consumers know that you understand who they are and that you have something in common with them.
2. Market Segmentation: A brand can convey many characteristics. Luxury. Discount Value. Leisure. Prestige. Having an identity segments your Market and attracts consumers who are willing to pay your prices. Setting prices too low makes it very difficult to cover the company's expenses and generate profits. So it's never worth chasing consumers who will never value your product.
3. Brand Consistency: A well-thought-out brand acts as a guide for business decisions and objectives. When you and your customers are happy with your transactions, you become better at providing good service. You start to focus on everything you do that satisfies your audience. Your product development, promotions, customer service, and social media marketing become more efficient.
4. Brand value: A trusted brand identity becomes a valuable asset and self-marketing tool for a business. Companies can't control every second of a customer's product experience. They depend on branding to have an ongoing conversation with customers. Over time, customers who feel connected to your brand become ambassadors in your community. They are an influence on others to try your products.
