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Five reasons why aspiring businesses need to build a robust ‘Brand Identity’ in 2021

Standing out in a sea of competitors isn’t easy. With so many options out there, it takes something special to truly attract and retain customers.

Your brand identity is a powerful tool that helps your business stand out from the crowd. Brand Identity can be a huge asset to your efforts if used correctly. And with the continued need for businesses striving to create and maintain an increasingly competitive advantage, brand identity is set to take on even greater importance in 2021.

Below, we explore the concept of ‘brand identity’ and the long-lasting benefits that show up when businesses get it right.

What is 'Brand Identity'?

Your ‘brand identity’ is how you want to portray your business to your customers.

When we think about brands, we tend to focus on their visual elements but it’s also the way they sound and how they feel.

For a business to have an effective brand identity, they should pay attention to all three key elements – visual, messaging, and philosophy.

Why is Brand Identity important?

People subconsciously buy from feeling. Having a strong brand identity influences how your customers subconsciously perceive you and it will affect their decision to buy from you.

Developing a strong brand identity allows you to enjoy certain benefits:

  1. Command a premium price

A strong brand Identity acts as a bridge between yourself and your buyers. It is the embodiment of everything you stand for. When your brand is well defined, it creates less resistance to your prices because people resonate strongly with the identity you have created for your brand. This resonance leads to purchasing with less resistance because people are subconsciously buying into your brand as much as they are your product or service. Developing a strong identity ultimately allows you to charge a premium and gives your prospects the feeling that it’s worth it.

2. Build Recognition

If you’re trying to establish credibility with customers, a strong brand identity is essential. Strong brand identity builds recognition which leads to trust, and, ultimately, loyalty. It is no secret that today’s customers are becoming increasingly discerning about the products and services they purchase. They have a common aim: To find something unique, with excellent quality and at an appropriate price. Memorable brand identity provides clarity of who you are, what you do, and allows your audience to understand how you can help them. Well-developed brand identity will ensure that you are easily recognised in the crowded marketplace and occupy a valuable place in the mind of your desired audience.

3. Differentiation from competitors

As the digital world continues to expand, so does competition. No matter what product or service you're offering, a compelling brand identity is one of the main ways you differentiate yourself from the competition and resonate with your target market.

When you develop your brand identity, you can start to associate your brand with certain values, a promise that you’re going to deliver on, and develop an experience that identifies you with your market. In doing so, you are creating valuable points of differentiation making you more attractive to your intended audience.

4. Accelerating growth

More and more, consumers are demanding products and services from businesses whose values align with their own. Consumers are really good at distinguishing between brands (and people) that have substance and those that don’t. A professionally developed brand identity can project a trustworthy and established image. It can communicate that the business clearly knows who they are and what they stand for. This favorable image positions you to become more appealing to not only prospects but potential partners, ambassadors, or investors.

5. Establish trust & loyalty

When audiences identify with a brand, they are more likely to feel loyalty that leads to greater trust and, ultimately, revenue.According to studies, loyal customers can be worth 10 times as much as a one-time customer. If you’re well-known for delivering one thing really well, it becomes easier to gain the trust and respect of your customers should they choose to repurchase or when you launch a new product or service.

Despite the evidence that building a Brand Identity is fundamental to a thriving business, an alarmingly small number of businesses invest in building a professionally developed brand identity even though the rewards far outweigh the investment.

Creating a brand identity for your business is a significant undertaking and it’s one that you can’t afford to get wrong. Thinking about building your Brand Identity but unsure where to start? Book a complimentary strategy session HERE:


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