One of the two ways to increase your profits is to actually boost your returns or simply cut back on your cost. Many of the startups go for the later one. While cutting back on cost seems like a nice move, many people mistakenly take it to an extreme level—treating investment as an expense and eliminating rather essential costs.
In this entire approach, one major question that many individuals eventually end up asking is—should I hire branding agency? Because imagine the “cost” they can save by not onboard-ing branding professionals.
Are you on the same boat? Are you, too, questioning the relevancy of hiring a separate branding team?
Here’s a quick and simple answer to your confusion. You can have one of the best digital marketing agencies by your side. Still, you’re going to need to hire a branding agency. In 2018, this is more important than ever. Because competition is high in nearly every industry, ROI is decreasing and companies are fighting to grab even the seconds of consumers’ attention.
Branding Helps in Creating a Distinct Space in the crowded market
Your marketing efforts can promote your existence. But can it create your identity? It can tell your audience who you are; can it tell what you stand for?? Can your marketing strategy build a reputation and goodwill for your brand?
Likely not! It’s a department of branding.
Branding is a key component – often deep integrated into marketing strategies – that shape your brand/products in a way that connects with your target consumers. If invested well, it tells your story—who you are, what you stand for, and who you are for.
Samsung stands for quality. Apple stands for innovation. Gucci stands for extravagant clothing. Forever 21 is for style for youths. These companies and many more have spent big in their branding strategies. Their brand names, now, tells all about their products, quality, work culture and vision. This is how they have managed to leave their competitors behind, now enjoying a distinct space (and reputation) in their respective industries.
In short, branding helps you separate your company/products in the crowded market.
If you want your startup to create a separate space in the market, with distinct individuality and goodwill, you’ve got to hire branding agency and integrate the strategy with your marketing efforts.
This is a simple recipe to success in 2018.