Successful branding takes more than just coming up with a cool sounding name and a fancy logo design. You also have to work on developing and improving your brand image, which includes your company’s visual identity, as well as your corporate messaging.
Your brand is the face of your company and is responsible for making you stand out from your competitors. It’s the first thing that people will see, so it should be able to leave a great impression on your target audience anytime they come across it.
It also plays a huge part in representing who you are as a company. Your brand’s image should be able to convey your company values, your story, and how you’re changing the world around you.
Let’s take a look at 12 statistics to better understand how crucial great branding is to your business.
- Color improves brand recognition by up to 8%. (TouroLaw)
- People spend approximately 2.6 seconds looking at a website before forming an opinion (Missouri University Science & Technology).
- Consistent brand presentation across all platforms increases revenue by up to 33%. (LucidPress)
- 71% of consumers are more likely to buy a product or service from a name they recognize. (OnBuy)
- 81% of consumers said that they need to be able to trust a brand before they make a purchase. (Edelman)
- Experience is the top driver for brand loyalty. Followed by cost, quality and consistency (in no particular order). (Facebook)
- 64% of consumers who have built relationships with brands do so because they identify with the company’s values. (Harvard Business Review)
- Customers who have a fully developed emotional connection with a brand spend 2x as much as those who are just highly satisfied. (Harvard Business Review)
- 57% of consumers spend more with brands they are loyal to. (Accenture)
- 86% of consumers say that authenticity is a key factor when deciding what brands they like and support. (Stackla)
- 57% of consumers think that less than half of brands create truly authentic content. (Stackla)
- 66% of consumers believe transparency is one of the most attractive qualities a brand can have. (Accenture).
A company’s brand is an extremely valuable asset. Companies either thrive or simply wither away all because of their branding strategy. This is why companies with very successful brands display it proudly on all of their products, ads, and marketing collateral. So it’s extremely important to get your branding right from the very beginning if you want to give your business a strong foundation for growth.
You also have to consistently work at improving your brand image if you want to stay ahead of your competitors. Make too many mistakes and you’ll have to revamp everything from scratch and basically rebuild your company’s identity from the ground up – and throw away all the positive associations it’s already developed with your target audience.
If you need help with branding for your financial website, contact us today and we’ll be happy to lead you in the right direction.