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What Is Branding and How Can It Benefit You?

The power of branding cannot be overstated. When you think about the top global brands, you likely think about impossibly successful brands like Apple, Mercedez and Coke - and, of course, the dedicated followers that these immensely strong brands draw to them. Most of us can’t help but feel loyal to a brand or two that we enjoy and appreciate in our day to day lives. What makes these companies so successful is not always down to them offering something completely unique and groundbreaking, it’s often down to the strength of their brand. 

Of course, brands don’t get to enjoy a huge market share by putting out an inferior product, they have to put in the work by backing up their brand with a product that meets the needs of their customers in several ways. The product needs to be something that people want to make use of and it needs to be of a consistent quality. People love knowing what to expect from the products they buy, so even a budget friendly product can become a huge success at least partly because of its consistency in quality, price and branding. 

But what exactly is branding? Put very simply, branding is the identity of your company as an entity. It is everything that creates an image of your company in the minds of your customers and competitors. It is the vehicle your company can use to convey your ethos and story to the wider world. In a word, it is essential. A strong brand will spend time homing in on the following ingredients that add up to a well-defined persona:

  • Consistent social media presence
  • Website visuals and design
  • Taglines, slogans and tone of voice
  • Company culture
  • Customer service
  • Product descriptions, quality, pricing and packaging
  • Typography 
  • Company colours
  • Logos
  • Brand story and ethos

When all of the above factors are working harmoniously together, your brand will stand the best chances of building recognition and credibility in the minds of your customers and will help bring in potential new customers. Above all else, branding is about presenting a consistent face to your target audience - one that they find relatable and trustworthy - and well planned branding can elevate your brand above the competition.

The benefits of branding

Brand strategy for Hong Kong businesses differs from branding strategies that may be used in other regions, but the basic principles remain the same - as do the benefits, of which there are plenty. The most important and obvious benefit to a solid branding strategy is that it will help to drive sales and will cement your brand’s place in the market and this is a cumulative benefit that overarches the following.

Customer loyalty

It is no good to simply sell things to an individual or organisation once and then fail to build loyalty from the customer. Unless you are selling a product that is bought only once, the chances are you will struggle to maintain growth if you are losing customers along the way. A solid brand makes your customers more likely to show loyalty behaviours and will come back time and time again to buy from you. When your branding resonates well with customers and you can credibly demonstrate that you have shared values, you are well on your way to cultivating a loyal customer base. 

Outperform your competitors

There is no denying that the market in Hong Kong is more saturated than ever before, making it more challenging to earn and retain a decent share of the market. You can use your branding to effectively outperform your competitors by giving your target customers exactly what they want from your brand. By defining your target audience you can hone your brand to resonate with them, making them more likely to choose you over a competitor. 

Keep things consistent

Consistency is key in providing your customers with a reliable product or service. When a customer knows what to expect from your brand and has their expectations met each time they interact with you, you will be positioned as a credible company that can be relied on to deliver consistent pricing, quality, style and brand messaging. A good branding strategy also makes it easier to keep your aesthetics consistent across all your stores, social media pages, and your website.

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