Elements of a Brand Identity
- Name of the brand
- Logo design and other visuals
- Tone of the brand
- Language used in advertising
- Product packaging
Importance of Building a Brand Identity
You Can Charge More - Building a brand identity that is recognised and popular will instill in the minds of the consumers that your brand offers quality worth paying for. A well known brand will almost always make consumers spend more cash just to possess the item of a well known brand. The more popular a product is, the higher the rates can be set.
Image of a Better Quality Product or Service - A more well known name is usually perceived as a product that is of better quality than its competitors. In reality this may not be necessarily true. Many companies may offer products of better quality at lower rates but if a brand is well known, customers will gear towards buying the known product as they may perceive it to be of greater quality.
Consumer Loyalty - It is necessary for a brand to have a strong image and identity to get recurring sales and leads. If consumers are satisfied with the product or service of a brand they will keep coming back to it. A brand identity that is strong helps to build a strong loyal consumer base which will stay around for years to come.
Trustworthy and Established - A well developed brand identity helps the business to stand out and appear as a well established business that has ample experience in the industry. This attracts bigger brands and companies to want to work with it. This will help take the brand to even higher levels of success.
Stand out of the crowd - Having a strong Brand Identity sets you apart from the rest of your competitors. The marketplace is crowded and consumers are looking for brands that are different from the rest. Having a differentiating element makes the brand look more professional and premium. This helps in setting premium prices and attracting a lead faster.
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