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Table of Contents
- Importance of Branding in Marketing
- 1. Branding Improves Conversions
- 2. Branding Creates Meaning
- 3. Branding Creates Loyalty
- 4. Branding Creates Emotional Connections
- 5. Branding Creates Credibility
There is some confusion between Branding and Marketing as people assume that they are one and the same. And the two terms are often used interchangeably. But, before getting to know about the importance of Branding in Marketing. Let’s understand the differences between the two concepts.
What is Branding?
In simple words, Branding is all about the development and implementation of identifiable features for business. These features can comprise a name, logo, tagline, brand voice, etc. It helps in establishing, reinforcing, and enhancing the experience with a business or product. Branding increases the exposure of the business, product, and services among the audience or consumers.
Goal of Branding
The major goal of branding is to create and establish trust among consumers. And provide the consumers a way to remember, and identify the business among competitors.
What is Marketing?
Marketing is the tool used by businesses to communicate their brand, services, and products to the general public in order to convert them into customers. Marketing consists of all the activities performed by businesses in order to promote and sell their products and services.
Goal of Marketing
One of the major goals of marketing is the growth of the business. And it can be easily attended by attracting new customers and retaining old customers.
It is pretty clear that Branding and Marketing are two very different concepts even though they fall under the same tree but they exist on different branches. For any business or organization Branding and Marketing go hand in hand. So, let’s take a look at the Importance of Branding in Marketing.
Importance of Branding in Marketing
Branding plays a very active role in marketing, having a strong brand is very essential for marketing. In the absence of good branding marketing automatically falls flat and is ineffective. Following are the points that make it clear,
1. Branding Improves Conversions
Converting potential leads into customers is one of the main jobs of marketing. And having a strong brand identity greatly impacts the sales of the products or services. Some of the things that contribute to high conversions are as follows:-
- By increasing the perceived value of the business in the eyes of the potential customers, and consumers.
- Branding helps in communicating brand message, and brand values.
- It provides a competitive advantage over competitors.
2. Branding Creates Meaning
Marketing without meaning falls short in connection with customers. Good branding provides the said meaning to marketing to form a meaningful connection with customers, through its message, idea, values, products, and services. Because marketing is not just about generating leads and customers, it should win customers’ hearts and minds. One of the best examples of marketing with meaning is Dove: Campaign for Real Beauty.
3. Branding Creates Loyalty
Creating a loyal following is one of the main goals of any business or organization because brand loyalty lasts a lifetime and transfers to future generations. Brand loyalty signifies the perception of the brand by the consumers. Loyalty is created by fulfilling customer promises, or through promotional activities, and great past experiences. Having customer loyalty is a must for marketing and advertising.
4. Branding Creates Emotional Connections
Mood and Emotion dictate most of the decisions we make in everyday life. Emotion can influence behavior, decision-making, etc., and play a major role in experiencing things. Having a strong emotional connection with a brand makes us invest in its product, and vice-versa. It is the emotions that validate a decision to buy or try a product of certain a brand.
5. Branding Creates Credibility
A loyal customer following in the market helps in creating the strong credibility of the business. Having good credibility helps in making a good business image, attracting more customers, getting ahead of the competition, and overall value of the business. Great branding strategies establish the business as a credible brand in the market.