Your brand is your company’s distinguishing factor, your logo, your mark, your identifier, your brand is you! Your brand is what separates you from the competition and what keeps your customers loyal to you. The bottom line is your brand increases your company’s profitability and increases customer engagement. So why would you want to change it
Often times, a company wants to modify its logo based on personal preferences when in fact, they are actually damaging their brand. Branding needs to be consistent and easy to recognize as it makes potential buyers feel more at ease. People buy and use what they are familiar with and will second guess the things they aren’t 100% sure on. Purchase intention is directly tied to the buyer’s feeling of trust – this will affect your profitability.
The companies who have grown into recognizable brands have no trouble bringing in new buyers and keeping customers loyal.
Apple is one of the most recognizable brands on the market with products that are very popular; however, they are more expensive than other competitor’s products. Buyers will gladly pay the extra money for Apple’s brand name, but will they pay for a slightly different logo? Even the smallest changes can make a brand unrecognizable or even look like a knock-off. So, will your potential buyer pay the big bucks for uncertainty? Certainly not.
Another big brand is Uber, an app where we have a stranger pick us up and drive us anywhere we want. At first, it sounds like a dangerous thing to do, however, Uber has taken all precautions to keep its users safe by conducting background checks, providing a GPS location at all times, a driver rating system, and more.
They provide information about the driver, the car, and have the driver display an Uber logo decal on the car for those users who aren’t car savvy. But, what if your driver pulled up and the car is the same color, make, and model but that decal that says “Uber,” looks off. Would you feel safe getting in that car if the logo wasn’t the one you know?
Watch the video to hear about our other examples.
Next time you think about switching up your company’s logo, remember that brand consistency is essential for retaining customers and that it can affect the profitability of your business. The first step is to develop your brand. You then need to utilize it to become recognizable and build trust with your clients and potential buyers.