Why is brand important for businesses?

Whether you have only a business idea or want to change your current branding design, here's what you need to know about creating a strong brand identity for your company.

1. What is a brand?

“Brand” is basically an image of a business and products in the minds and hearts of customers and the public. Brand includes all things such as name, slogan, packaging, logo, color, etc. Brand is the belief and love that customers and the public have for a business. It is not a tangible thing, a brand is an intangible, invaluable asset of a business.

2. Why is a brand so important for businesses' success?

Brands help build customer trust

Today's consumers often tend to trust brands, take pride in the good branded products they are using. In addition, using branded products will save them time considering quality.

Branding helps a business to differentiate itself from the competition

This is a question that many business owners always ponder. “Why should customers choose their own products instead of hundreds of thousands of products from other brands?”. That is differentiation. Branding will help differentiate your products from other products and help customers easily identify your products.

If customers have a positive experience with the product, the chances of customers choosing the brand's product will be higher than that of the competition. Therefore, businesses should focus on building a brand to impress and gain the prestige and trust of customers.

Good brand increases business value

When customers love and have trust with the brand, customers will tend to maintain their support, believe in that brand for a long time and become loyal customers. Thanks to this customer file, businesses will have a stable number of customers, ensuring business development.

Brands help attract investment

A strong brand will create a competitive advantage in the market easily in terms of price, investment attraction, talent attraction. Once it has a foothold in the market, the business will be interested, invested and attracted many quality talents to the company.