Every person needs to have identity to feel alive and be part of the society. The same can be said to a business. Every business needs brand identity to thrive and be part of a market with huge potential for making money.
The importance of brand identity seems obvious to a lot of experienced businessmen and industry leaders. However, do you know that one reason why many small businesses fail to find success is because they focus too much on customer service and product development but less on building a highly recognizable brand identity, the Forbes magazine says?
How compelling is the importance of brand identity for you to give it more attention? Keep reading and learn the reasons that should convince you.
1. Brand identity results to brand loyalty.
Brand is often associated with three main selling points – quality product/service, good customer service and price.
Some brands have loyal customers despite higher-than-average prices, such as Apple and Mercedes Benz. Some brands gain many customers because of their excellent customer service, such as Google and Microsoft. Meanwhile, some brands get repeat customers because of their low-end prices, such as McDonalds and Brother.
People have different criteria when selecting a brand. Standing out by associating yours with any of the often used selling points increases your chance of succeeding and hitting sales targets.
2. Brand awareness and easy customer recognition depend on brand identity
People subconsciously favor brands they are familiar with. Familiarity gives them the impression that the brand has already been around for a long time and has a legion of followers. You practically put your brand on the priority list when even those who do not belong to your target market can easily organize it.
3. Social media marketing improves when there is an established brand identity.
Do you know that 71% of customers buy from brands that they follow on social media? Do you also know that 63% of internet users tend to follow brands with complete profile on their social media accounts? What’s even more surprising is that 41% of people with social media accounts have shared a post from or about a brand they follow at least once.
A strong brand identity reflects brand integrity and credibility. The data above shows how brand identity alone spurs actions on social media, which improves marketing strategies. In fact, people tend to follow and like brands that they easily recognize on social media.
Take Coca-Cola for example. This famous beverage brand has almost 100 million followers on Facebook, the highest among all multinational companies on networking site. Similarly, Nike has the highest number of followers on Instagram among all brands on the social media website. They have 64 million followers, which is far from their 14 million followers last year.
Private blog networks can also benefit from a strong brand identity because all the member websites can be identified with a unified brand. The PBN can focus on strengthening their brand with a single strategy but benefit multiple websites all at the same time.