It seems like today, anyone could start a business selling anything, thanks to theInternet. But keep in mind, a product is not a brand. Yes, you can launch an amazing product and have it initially be successful but that product will eventually be replaced with another “original” product with faster and cheaper knock-off versions. It is crucial for businesses to have a strong brand image.Brands create die-hard customers. Loyal customers buy more which in return, makes you money.
Brand and Trust Development
In this pandemic era, trust and transparency have been more important than ever.Has trust become the new currency? I would say so. Customers are now operating on a trust-based decision-making process.
“52%of customers who felt that businesses treated them fairly during the pandemic plan to give those companies more of their business” (https://experian-2872.docs.contently.com/v/2020-global-insights-report-july). Trust organically creates loyalty.
It is human nature to avoid high-risk situations. When customers consistently experience positive emotions from a brand, customers will start forming opinions that the brand is trustworthy which in return gives them a sense of calm when buying.
Brand Identity
What makes us, as consumers, pick one product over another? BRAND. What makes your product different from the rest of them? BRAND. Branding helps you differentiate from your competitors. Branding cuts down on the buying decision process, in an instant.
Branding Adds Value
Branding adds value to your products. Take a look at Patagonia. Why would you spend $300on a jacket at Patagonia when you could spend $40 on a jacket elsewhere?Because Patagonia leads with its brand and its brand story.
Brand Identity and Customer Experience
When you buy from a brand, you are also expressing who you are. When you wearPatagonia, you are making a statement about sustainability, saving the planet, etc. We become invested and emotionally attached to these brands. It becomes are flection of our personalities.
As humans, we are social creatures with feelings and emotions, and experiences.When businesses have strong brands, you give reasons to customers to share their experiences.
Branding Impact
It’s pretty clear the impact a brand has on consumers and their buying decision process. Here, at Arise Design + Brand Group, we strive to focus more on our values and the larger impact. We work towards only servicing impact-focused clients and companies. So, in the end, build a brand, not just a business.
Source:
https://www.entrepreneur.com/article/295306
https://www.experian.com/blogs/global-insights/consumer-trust-digital-customer-experience-important-covid-pandemic/
https://www.accenture.com/us-en/insights/retail/coronavirus-consumer-habits