Itâ€™s a mistake to assume that branding is only for larger companies or corporates. In fact, every business sets about branding its goods and services from the moment when you decide on the design of your business card and letterhead. Name recognition is important for your business. We all try to create a unique image through words and images, to enable others to recognise us and seek us out again for repeat business. Really dominant businesses get their brands accepted as verbs for activities. We â€˜hooverâ€™ a carpet or â€˜xeroxâ€™ a document.
Effective branding helps you build credibility in the marketplace. Your aim is to convey a professional image that promotes trust in what you do and reduces the risk of doing business with you. Your brand is an important way of distinguishing your business from your competitors. Your business might offer a better, faster, more effective or more professional service. If so, branding that distinguishes you from the rest is particularly important.
Over time a successful brand can add value to your business and become an important business asset. If you sell your whole business, you’re more likely to get an extra goodwill component based on the respect and recognition your brand or name enjoys in the marketplace.
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