A brand is more than the name or visual element used to represent your company. It is the emotional and psychological associations that a person makes with your business, product or service. The first step is really very important to get your business logo design perfect, the first time. Because the first impression is the last impression. Changing it later costs 100 times more or you’ll be stuck with a logo you don’t ‘really’ like. We understand the impact your branding has on your business. Nowadays social media is excellent for promoting branding.
Importance of Creating a Brand Logo and Identity
When you see the Apple logo, the first thing that will likely come to your mind is innovation and design. The intertwining Cs of Coco Chanel? A luxury clothing brand and a powerhouse in fashion. What about the colorful Google text on your browser? An intuitive and user-friendly search tool.
Simply seeing the logos or hearing the names of these brands will immediately make you think of what they are and how they can be useful for you. This response is the result of creating an effective brand logo and identity as part of the companies’ branding process.
Recognition is just one of the many advantages of developing these business elements. Creating a logo and brand identity also gives businesses crucial gains that help them build their reputation. Read on to know the other advantages of creating a brand logo and identity and understand their importance for your business.
Key Benefits of a Brand Logo and Identity
A brand logo helps customers easily identify your enterprise, while an identity is how your business presents itself to the public. These elements go hand in hand to help market your brand and instil your business in the minds of your customers.
Develops connection with customers
As mentioned, your brand logo and identity can make your business recognizable to customers even when placed alongside competitors. However, today’s branding goes beyond developing a perceptible logo and identity.
Modern customers look for a business they can relate to and connect with. Having a great brand identity can help with this since it is the element that can influence people to believe that your company is more than just a money-making enterprise.
Doing so means you have to convey the reason for your brand’s existence and why it does what it does. Customers who agree with your values and purpose will be attracted to your brand and feel a greater connection with it, thus encouraging them to transact with you.
Expresses the purpose of the brand
Once you’ve defined your brand’s purpose and what it represents, you’ll have to translate them into a tangible element: your logo. A well-designed logo can effectively convey the business’ intended message without needing additional context.
What’s more, creating a recognizable trademark allows customers to make the connection between your brand and its values. It can also establish your company as a reliable authority in the industry, making customers contemplate choosing your business over everyone else when they see your logo.
Promotes customer loyalty and ensures stability
Getting recognized and connecting with customers through a strong brand logo and identity makes it easy for businesses to build a loyal customer base. The identity of your enterprise is what helps pull in consumers and build their trust in your business.
On the other hand, your brand logo acts as a shortcut in helping customers remember the value of your business. That means that when they see your trademark, they would know that the product or service it’s attached to comes from a reliable brand.
The catch here is you have to be consistent with your branding across different channels to secure this kind of loyalty. This consistency, along with a clear image and message, will help your brand establish its staying power in the industry.
Separates the brand from its competition
Different companies offer the same products and services, which is good for consumers since they’ll have multiple options. Having competition can also be beneficial for you as it fosters innovation, diversity of supply, and better product or service quality.
However, this poses a major challenge for your company; separating your enterprise from other businesses. The solution? Creating a unique brand logo and identity.
These elements can make your brand more noticeable and help customers differentiate you from your competitors. Being consistent with your brand personality also boosts recognition and engagement among your target market.
Gives you access to price premium
Price premium refers to a higher selling point than the standard price for a product or service. Companies implement this strategy when their goods or services are perceived to be of better quality compared to that of their competitor.
Businesses that successfully built a strong identity for products are bound to develop this incredible customer perception, which then allows them to employ premium pricing. This is true because trusted brands have set expectations for what a good or service should be when customers use or experience them.
If consumers perceive your business offerings to be of higher quality than your competitors, they are willing to pay more than the standard market value if that means they get to avail of a premium product or service.
A Worthy Investment
Creating a distinct logo and identity for your brand will take a considerable amount of time, effort, and resources — but the benefits will be worth it. It will put you on the path of building awareness and loyalty for your brand.
Staying true to these business elements, even with developments, also influences your enterprise’s reputation and growth.
What’s more, these gains are not limited to products and services. Other business ventures such as managing or producing an event can also benefit from developing a strong brand.
Katie Pearce crafts this content for the IT Lands Logo Identity & Branding category.
