Why Branding Matters for Growth
Branding is much more than logos or visuals; it's an immersive experience a customer has with your company. In a recent Growth Roundtable session with branding experts Evan Sargent of Leap_Year, Scout Driscoll of DesignScout, and Carrie Sekendur or Butter Studio, moderated by yours truly (Kinsey Wolf), we explored the true essence and critical importance of branding in today's business landscape.
But let’s answer the big question - “Do I really need branding?” - first. The answer is yes.
“If you’re a business and you’re doing any kind of marketing, and you have any kind of goals to be a business and thrive, then yesterday is the time to do a brand at whatever level, at whatever budget you can make it happen. It’s really, really important. It’s an important foundation.”
What Branding Really Means
Your brand is your business identity. It includes visual elements - like your colors and logo - as well as conceptual elements like values and messaging.
Branding revolves around emotion, connections, and the lasting impression your company leaves on customers. It's the authentic essence of a business, crystallizing its values and creating emotional bonds with the audience. Branding is about storytelling, conveying who you are as a business, and the unique value you bring. It’s a strategic art form that transcends mere aesthetics.
“Branding is how you feel. Harley Davidson has been selling motorcycles for 110 years, but what they’re really selling is freedom, independence, the open road. We really like to wind it back to that emotional driver; it’s the authentic essence of who you are and it’s your commitment to your customers.”
Cari had an additional unique perspective on branding and its role as a tool for communication:
“[Branding is] really a tool for communication. It’s how you communicate the story of who you are and what you stand for in a way that will speak to your target audience. So just as like any other type of aesthetic expression - be it visual sound, verbal, written, the way you choose to dress or you, the music you listen to as an individual - these are the types of things that speak to who you are as a person. The same type of aesthetics can speak to who a company is and help communicate the message that you want to get across to your audience. ”
Measuring Brand Success
Brand success can be quantified through top-level KPIs like brand mentions online and increases in brand name search traffic. But it can also be measured by - and is perhaps better measured by - qualitiative data points. Does your branding make customers understand your business better? Does it boost confidence in business decisions and motivate employees?
Strong branding helps your brand’s presence feel seamless and natural, resonating deeply with your audience.
Why Branding Matters for Growth
Branding is not just an add-on; it's foundational to a business's success. There are a wide range of concrete reasons why branding matters:
1. It can boost revenue.
Branding is crucial for connecting with customers emotionally, influencing their purchasing decisions. All of the branding experts have seen firsthand the impact that great branding can have. Some shared that it helped them raise investment, or improve engagement and retention. Want specific examples?
Cari shared how a rebranding led to a threefold increase in sales for a client.
Scout shared a micro case study from one former client, a restaurant, that witnessed a 40% increase in revenue post-rebranding. Effective branding enables you to authentically stand out in a crowded market and convert customers into brand evangelists.
2. It can foster internal alignment and strategic confidence.
As Scout also shared, “A great brand's value is giving you the confidence that you're making the right choices for your brands and they work with almost entirely your driven brands. And I will tell you that confidence is priceless…[Without it] you feel like you're walking through the forest blindfolded. You're like, how am I making my marketing choices? … Having a great brand allows you to say, ‘We're all about this,’ and that allows you to make great choices with confidence.”
3. It can attract better talent to your company.
Evan added that a great brand can help you connect to potential talent, and help them understand if you’re the type of place they’d like to work.
Finding a Brand Partner
Choosing the right branding partner is crucial. Seek agencies that understand your core values and offer a fresh perspective while preserving your authenticity.
Compatibility with the branding partner is vital. Look for partners who understand your business ethos and can provide a fresh perspective. Evan and Scout advised seeking partners with varied aesthetics to ensure a unique brand representation, even if you’re looking for specific expertise in your own vertical. Cari added that it’s an emotional process, so it helps to be able to connect with your branding partner on a personal level, too.
Branding is about uncovering and leveraging what authentically makes your business unique.
It's foundational to marketing success and business growth. Investing in creating a meaningful, resonant brand identity and experience that aligns with your business goals and connects deeply with your audience can be transformative for your business.
This roundtable discussion underscored the pivotal role of branding in business growth and success. It's a strategic imperative, not just for aesthetic appeal but for building a genuine connection with customers and stakeholders alike. For businesses looking to scale and make a lasting impact, focusing on branding is not just advisable; it's essential.
Want to learn more?
Free 30-Minute Consultations
Evan @ Leap_Year Branding: https://tidycal.com/leapyear/evan-sargent-30-min-zoom
Cari @ Butter Studio: hello@butterstudio.co
Scout @ DesignScout: https://designscout.com/contact/
