Why Going Cheap on Your Branding Is One of the Worst Mistakes You Can Make

Why Going Cheap on Your Branding Is One of the Worst Mistakes You Can Make

But for those who do, 64 percent cite sharing a common bond with the brand as their primary reason for following or purchasing from them. Breathe life into your business with a brand story or mission statement. It’s going to take a lot of self-reflection and doubt, running through your purpose as to why your business exists in the first place. It’s not a bad idea to gain an outside perspective from someone to ask you the tough questions on why you started your business and what it represents, as well as where exactly you want it to head. Your brand is more than just a logo. A common misconception by novices in the branding world is making the assumption that a logo and a brand are synonymous. From there, you need bring your brand to life by embodying your values through marketing initiatives, product development and customer experience enhancements. Take the Whole Foods logo, for example. So you have your logo … now what? Which begs the question: Are you ready to not just tell your story, but make it one that can stand the test of time?

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Why Going Cheap on Your Branding Is One of the Worst Mistakes You Can Make

Your brand has a life.

Believe it or not, this thing you’ve created has legs to stand on, living and breathing every day. While this may sound high-minded, statistics prove otherwise. According to a study compiled by Bop Design, 54 percent of people don’t trust brands. But for those who do, 64 percent cite sharing a common bond with the brand as their primary reason for following or purchasing from them.

Why is this the case? Because your brand is your business’s first impression, and if done poorly, possibly the last. To some, branding seems like a luxury investment (and in some cases, this is true). However, going cheap on your brand development could not only lead to a disconnect with potential customers, but could also result in your company shutting its doors as a result of low sales. It’s a nightmare scenario for most entrepreneurs, which is why I’m going to go over a few reasons why investing in your brand is one of the wisest investments you could make.

A story you can sink your teeth into.

Breathe life into your business with a brand story or mission statement. Let’s be honest, coming up with your brand’s story is not an easy task. It’s going to take a lot of self-reflection and doubt, running through your purpose as to why your business exists in the first place. Additionally, this mantra will be what dictates every piece of copy or content your company puts out, creating a skeleton of how your voice will sound.

Let’s look at Whole Foods. The company could have created a wholesome-looking logo to lure people through its doors, but the multi-national retailer takes careful measures to back up its introduction to consumers. The brand has built a foundation of offering healthy and nutritious foods, and this foundation informs every marketing initiative and company development. From offering in-store educational experiences to teach consumers about food and emerging brands to getting involved in community-building programs through donating food to shelters and supporting local vendors, Whole Foods doesn’t just view its brand story as a marketing ploy, but leans on its pillars to guide the brand forward.

As Kissmetrics points out, there’s an actual science to what we deem as…

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