What is the importance of branding for you? Tips on how to establish it. What is your brand?
Branding is important because that is how people perceive you and know you as a company. I remember I talked about this. The most important thing in branding is consistency. You’re consistent with what you do with how you show yourself to the outside world. If you remember Nike and they ask you what’s their logo and what’s their tagline. It’s easy to answer.
The check mark and the tagline is just do it. It hasn’t been consistent, consistent, consistent over the years, it’s the same, but I’m going to name Adidas though. Now I know that the logo might be the same. But the tagline. I don’t really remember. You might not remember, but the last tagline I remember that they made that was really good is “Impossible is nothing”.
Problem, they have a different tagline now. The consistency is gone. That’s what I think branding should be all about. You have to be consistent. If you’re not consistent, you will have weak branding. And one of the biggest advantages of branding is if you have good branding, you can demand the price.
Honestly, how much should sneakers cost? It should not cost a lot. And yet Nike sells it for a lot. Their markup is huge and they’re making a lot of money out of it. They’re even listed in the stock exchange in the U S. Same with Adidas, even if they’re not that consistent with their tagline, they still have pretty good branding. They’re also listed in the US stock exchange, which means they have billions in market cap. And one of their sneakers costs a lot. And that really is just because of branding. Yeah, they have good products, they have good sneakers, but a lot of companies also have good sneakers without that kind of branding and they’re selling for a much cheaper price. Branding is important because you can demand price.
Same with SEO Hacker. I think we have pretty good branding. So we demand price and a lot of our competitors follow our pricing model on our website. That’s because of, again, good branding. So it is worth investing in your brand. Be consistent.