When starting a business, most entrepreneurs start with researching the market to understand lots of things like competition, viability, market and so on. Chances are that you will find hundreds or even thousands of businesses which offer the same products or services like yours. So, in the face of such stiff competition, what do you do? In order to set your business apart from the competition, you need to invest in creating your brand identity.
A brand is a symbol or name that represents your products and which differentiates them from other similar products. A brand is usually identified by a brand name like Coca-Cola, Safaricom, and the like, and you can protect it from being used by others, by securing a trademark or service mark from the government. When you talk of branding, you are describing the process and effort you put in place to create a brand name, which can be applied to the entire corporate entity or to individual products and services.
So, why is it so necessary to brand your business in Kenya?
Branding is critical to any business which is keen on outgrowing its competitors, driving new business and increasing brand awareness. Outlined below are some of the main benefits of business branding in Kenya.
Increased Business Value
A strongly established brand is instrumental in increasing a business value which is good in generating future business. A well-established brand makes it a better choice of investment for those who are looking for investment opportunities. It is deemed to be firmly established in the marketplace and investors will be more comfortable putting their money on it.
Generating new customers
A business with a good brand is highly likely to get referral business. When your business has a strong branding, consumers tend to have a positive impression and they will be more than glad to do business with you. The familiarity with the brand and the presumed dependability of the brand makes them do business with you and they are most likely to refer friends and family to your business.
This perhaps the most important reason for branding. Branding helps a business get recognition and customers get to know it exists as an entity. The logo, which is essentially the face of the business is one branding element which is powerful when it comes to creating brand recognition. This is why you should take your time to create a unique and memorable logo which is easy to recognize at first glance. Branding is what differentiates your products from the competitor’s.
Other benefits of branding include building trust in the marketplace, supporting advertising and improved employee pride and satisfaction.
What Are the Downsides of Not Having A Strong Brand?
If you fail to build a strong brand, your business will suffer in the following ways:
- Your business image is affected.
- You will lose customers due to the negative impact which may lead to a drop in sales.
- It may lead to the total ruin of your business with time.
How To Build A Strong Brand
When branding your business, you are creating its character with which it can be identified. In order to create a strong brand, you need the following:
- Get a name for your business and design a Logo which will represent your brand.
- Design and prepare business cards and letterhead which will represent your business. These are also great marketing tools for your business.
- For the effective promotion of your business offline, prepare a banner or brochure.
- Design a website or get an expert to design for you so that customers can easily discover you online.
Are You Ready to Start Your Business Branding?
Business branding in Kenya is fast gaining acceptance and more businesses are recognizing its benefits. It’s no wonder that many business owners are willing to invest the much they can to get the best business branding they possibly can. However, branding does not have to be complicated and costly. A simple logo which is unique and memorable will be a great start. You also need to consider a website as this will be your online shop or brochure which will your customers interact with.