Brand identity has proven to be one of the most effective business strategies that can skyrocket a business to the next level. This is something a lot of business owners, most especially small business owners neglect or don’t pay attention to. Back in the days when there was less competition, it was easier for businesses to succeed because there was simply less competition… but now, the competition has grown and become stiffer. Businesses now are not only competing against direct competitors but also indirect competitors as well. Because of the stiff competition, businesses are coming up with different strategies to help them have the upper hand in the marketplace.
Having a brand identity is key for the success of any business in this present times. With the level of competition becoming more stiff, businesses need to have an identity so as to stand out. Without an identity, a business can be lost in the crowd. If a business doesn’t now have an identity or does not have something that separates it from the competition, it is difficult to attract target customers because there is nothing to give the target customers reason to buy. When a business is doing the same thing every other businesses are doing without any form of identity, it would be difficult to convince the customers to buy because the customers could buy from any business and still get the same level of satisfaction since there is no differentiating factor.
Take, for instance, you walk into a mall with multiple electronic stores, to buy a Samsung Smart TV… you all the stores are selling the same product, the same quality and at a similar price range… I guess you wouldn’t be that concerned about which store you purchase from since they are all offering the same product and the price differences is basically negligible. You could close your eyes and walk into any store and buy. None of the businesses have something that differentiates them from the rest, no identity. Now imagine that same scenario… you walk into the same mall with multiple electronic stores, most of the sellers are doing the same thing, offering the same product you want to buy at a similar price range, but a particular store has an identity through its branding…
The unique colours schemes, the logo, the welcoming customer service and also, it has a large signboard with “buy any electronic from us and get a mouthwatering freebie” – which store would appeal to you more… I guess the seller that offers a freebie in addition to the purchased product… That is the power of standing out… that alone can attract a lot of customers because people naturally want to gain more value than the amount of money they are paying. Offering a freebie sets the business apart from the competitors and customers will be drawn to want to gain more value from the product and the freebie. The customers can identify the seller because it stood out from the rest of the competitors. This is very similar to what brand identity does for a business. Brand identity allows a business to build an identity over time because of uniqueness and consistency either through its visual or non-visual elements of the business. You can already see how powerful this strategy is and why it has proven to be a really effective strategy that can skyrocket a business to the next level.