Starting out in the business world, we know that it requires a series of very important steps to be taken.
Branding, also known as "the company brand" is one of those fundamental steps in the creation of the business and its subsequent growth in the market.
In this article, we are going to talk a little bit about what exactly is Branding, the importance it represents in E-commerce and how to build and implement it in our businesses.
Branding
If we are very technical and must say exactly what branding is, we would define it as a marketing practice where the company creates a name, logo, website, social network, etc., that makes it recognizable above other companies.
In other words, and trying to be more general, Branding is going to be everything we do in our company that allows us to distinguish ourselves from others even though they both market the same product.
Basically, through the branding of our business, we will be able to generate a link between us and the users, where our products or services will stand out from others. Also, the users recognize when they see us that we offer, but above all, the reliability of the results that they are going to obtain when acquiring our services.
importance of branding in E-commerce
As we have seen, branding is vital to any business. The importance of branding lies mainly in the impact it will have on our business, since it will change the way users perceive us.
Next, we will present a series of favorable points that will make us think about the importance of Branding in our businesses, and will help us to find the way to exploit this element to the maximum. Particularly, we will focus on the benefit that it generates within the E-commerce.
1) Brand recognition
We know that in the market, competition between companies is fierce, and often the fact of competing against those who offer the same product that we sell makes competition more difficult.
For a person, acquiring a product is easier if the company offering it is genuine and widely known. For them, it is a low-risk purchase, so they value our choice more highly than the product offered by the competition.
That is why the creation of a branding that allows us to differentiate ourselves from the rest of the competitors becomes something vital in the fight to obtain the best benefits in the market.
2) Increase in the value of the business
If our goal in the market is to expand and offer different types of products, the importance of branding increases considerably. A good Branding in our business, can generate new opportunities in the future within the market, in terms of marketing.
This gives the company an increase in its commercial value, since it generates a new investment opportunity at the level of products/services by people, as a result of its variety of options.
3) Differentiation from other competitors
Helping us to differentiate ourselves from the rest is one of the most important aspects of branding. The market is full of competitors that offer products similar to ours, that is why the more solid, attractive and powerful our brand is, the more we can get away from our competitors, and therefore increase our income.
4) Help in connecting with customers
Good branding allows for an emotional connection with customers, which positions the company above others when acquiring a product. This is due to the bond that is generated with the buyer, feeling satisfied, will not hesitate to seek our business for future acquisitions.
How to build your brand?
1) Understand your audience
Before we start making decisions regarding our branding, we must have some things clear, which allow us to locate ourselves and establish the objectives of what we want to do, for example:
- Identify our potential customers and competitors.
- Talk to people who are close to the market we want to enter to know what products they usually buy.
- If we already have customers, identify their complaints, doubts or problems and thus improve any flaws that we are presenting.
- Observe the websites or social networks to which our customers or potential customers are more receptive.
2) Identify your brand
Making our brand stand out is one of the important things about branding. For that, the creation of a good name, slogan, logo, colors; etc, must be taken very seriously.
In a small company that is just starting out, the name will dictate the elements to be created when developing its branding. The aim is for it to be unique, not to be imitated and/or copied. That the slogan is short, pleasant and descriptive. The logo must be scalable, simple and identifiable.
3) Create unique customer service
That our brand is unique, is something we must take very seriously. We already know that in the market, you can find products or services similar to ours. That's why we have to make ours stand out from the rest.
A good way to channel all our efforts into achieving this is to initially set a few goals in creating our brand. This will allow us to get the most out of our product.
4) Co-Branding
Starting to see results in our businesses takes some time and a lot of resources, that's something we all know. That's why partnering with an established company that markets the products or services we have can be beneficial.
From saving large amounts of money, to achieving a greater scope and speed of impact on the market, getting a business "partner" is undoubtedly an important step to consider in building our branding.
5) Apply your branding across your business.
Once our company is created, it is important that we present the brand at every opportunity we have. By this we mean that the client must associate our branding with everything that represents us.
A good example of this can be seen in the application of the company's logo on the products, web page, social networks or on the walls of the physical store we have. The use of the company's colors in everything mentioned is also a good way to identify us.
In short, branding is much more than a design, logo or name. Basically, it represents the impact that we cause in people after having experienced and used, the purchase of a product or service.
That is why the importance of branding is becoming more and more decisive in companies. Because it represents in a way the soul, values, philosophy and principles of the company, and therefore what makes us different from the rest, and allows us to succeed.
A marketing strategy that includes a solid and efficient development of the Branding of our business, can make the difference between success and failure of the business.
What do you expect, are you already creating and designing your business name and logo?
