Successful branding is vital for any business. Christine Buck, VP, Product Marketing and Brand, Hootsuite, talks to Intelligent CXO about the importance of branding and the effects it can have on customer experience.
Branding today is much more than the logos, images and colours associated with your company. It is the whole identity and personality of your business, from the first impression people have of you and the tone of voice used in public content, to what your employees think of you and the reason your customers stay loyal to your brand.
While branding has always been important, especially in driving customer interest, it is now more vital than ever. In the age of digitalisation and social media, competition is fierce as customers are exposed to new brands every day.
Indeed, now that there are five billion internet users around the world, which equates to roughly 63% of the world’s total population and over 4.65 billion social media users in the world today, consumers are seeing more options than ever before – which means standing out from the crowd is difficult, but essential.
Top reasons to care about branding
It builds trust: Consumer trust is one of the most important factors of success in today’s competitive marketplace, no matter the industry. The Edelman Trust Barometer found that, out of 16,000 people surveyed across eight countries, brand trust (81%) is a deal-breaker or deciding factor when they’re making a purchasing decision. Edelman’s research also found that people believe trust in a brand (88%) is more important than love (81%) when deciding what brand to buy or use.
It’s safe to say then, that when consumers trust a brand, they are more likely to buy its products, use its services and stay loyal. But how do you gain this trust? Again, it’s important to look at branding as a holistic exercise. From the logos right up to social media content, consistency is key so that when consumers are interacting with or are exposed to your brand, no matter which platform they’re using or in what format they’re seeing your content, they can recognise your brand from the get-go and associate it with a brand they love.
Customer loyalty improves: Getting branding right builds customer loyalty and branding that has a ‘human’ side to it is particularly effective. Indeed, when customers can relate to a company on more than just a product or service level, loyalty will soar. The same 2021 Edelman study, for example, found that 86% of people expect brands to take one or more actions beyond their product and business, such as addressing societal challenges and supporting local communities and two in five (40%) people said that there are brands they love but no longer buy from because they do not trust the company that owns the brand.
When customers return to your brand repeatedly, you know you’re on the right track to winning their loyalty. Effective branding that engages customers on an emotional level builds a relationship that keeps them coming back for more.
It’s good for employees: In the era of the Great Resignation and labour shortages, retaining your best and brightest employees is critical. Branding helps in several ways here. Employees who feel their company’s mission and values align with their own are four times as likely to love their jobs, as per Workhuman research. And of course, employees who love the company they work for are more likely to stay – and also recommend that company as an employer. Having branding that speaks to employees on a human level will ensure they feel connected to your company and part of the big picture, especially if they too expect brands to be more than the products and services they offer.
Second, by creating a brand that employees can rally around – whether that’s through social media advocacy (more on that below), or simply through branded apparel and merchandising – you are bringing everyone together around a shared purpose, where they are motivated to produce great results.
How marketing teams can make the most out of branding
To stand out in today’s crowded marketplace, here are just a few ways a business can look to build a strong brand that will attract – and retain – attention.
Brand monitoring via social media: Before jumping into any branding exercise, it’s first important to establish how your brand is currently perceived by consumers and the general marketplace – namely, how aware they are of your brand.
One of the most effective ways to establish this ‘brand awareness’ benchmark is by using social media, which means tracking the amount of attention your brand gets online in the form of mentions and engagement. The more people are talking about you online, the greater your brand awareness.
This practice can be further enhanced by the use of social media ‘brand monitoring’, which means keeping track of what the world has to say about you. This in-depth tracking gives you a place to start as you embark on your branding journey. What’s more, with the social media tools that exist today, it’s never been easier to observe, analyse and optimise the online conversation around your brand.
Find the channel that’s right for you: There’s no denying that social media has become a powerful tool for marketers in today’s digital age – but, with so many channels to choose from, where do you start? The key is to engage in social media where your target audiences can be found, whether that’s LinkedIn, Facebook, Instagram or anything in between.
At the same time, don’t be afraid to venture into new social media territory. TikTok, for example, is the place to be. Indeed, with more than 1 billion monthly active users and 3 billion global installations, TikTok has quickly become one of the biggest social media platforms in the world, boasting the highest engagement rates on social media. What’s more, the UK spends more time on TikTok than any other nation and almost a third (32%) of British adults now use the app, as per Hootsuite’s and We Are Social’s Digital 2022 report.
Take the time to figure out what’s right for your brand and reach your audience where they already are.
Use employees as brand advocates: ‘Employee advocacy’ is one of the most effective ways to boost your public image and employee engagement, and one of the most effective channels for it is social media. In essence, this means employees sharing your company’s content on their personal social media accounts – everything from job postings to new product launches.
It’s effective because half of all employees already share employer content on social media and 33% of all employees do so without any prompting. With a formal programme that uses a content strategy to guide employees about what they can post, you can expand your organic reach by 200% and increase profitability by 23%, among many other benefits.
Conclusion
Creating a consistent, relatable brand voice that your consumers can connect with has never been more important in today’s competitive, digital marketplace. With the right branding tools, companies can reach their audience where they are the most, winning their trust and loyalty in the process and making an impact internally for employees too.