What do you think of when I asked you about brands?
If you are lady, naturally, you may be thinking about Louis Vuitton for their handbags.
Coca-Cola and McDonalds when we discuss about food, and Apple and Samsung when discuss about electronics.
These are all big brands and do you know that these companies do spend big bucks on building their brands?
1) Reputation, Reputation And Reputation
Your reputation precedes you. If your business has been around for some time, then for most of the time, someone will have heard of you even before they landed on your website.
They may already have an opinion about you and your products and their opinions is largely dependent on your brand.
Take for example, Apple. When you think of Apple, you will think that Apple products are of high quality and stylish looking.
What do people think about you and your products then?
Your brand and reputation has a huge impact on your conversions and how you market your products.
2) Type-In Traffic
If you build a really strong brand name, then, you will actually get more type-in traffic than from paid advertising.
This may be difficult for a new business but if you work to build your brand up and become the reasonating factor with your industry. Then, whenever people are looking for products or services in your industry, naturally, they will type in your website address at the address bar directly.
Let’s take for example, Amazon.com, Surprisingly, the website gets a lot more traffic from people typing in their domain rather than from advertisements.
This will be a huge traffic source in the long run and you don’t want to miss this out.
3) Networking Advantages
Let me ask you a question. Who would you like to meet or give favors to? Someone in your market who you have never heard of, or someone who already has a brand and reputation.
In the internet marketing industry, there is many things that can be related to this.
Who do you let to do a guest blogging on your blog? Or who do you look for when you want to write a guest blog post?
If you are doing a product lauch and looking for JV partners and affiliates, who do you look for?
I think you’ll understand the importance of your brand and how it can helps you in your business.
4) You Are Your Brand
You need to realise that building the business brand also means building your own brand.
Look at Tesla and his founder Elon Musk. Will he have difficulties if he is looking for the investors for his next venture?
Ultimately, behind all the business, there is real people in them.
By having a strong brand in your business, you will become more credible automatically.
The effects of a powerful reputation cannot be emphasized enough. It’s definitely less measurable numerically than ROI or traffic, but its power is there. Don’t overlook it just because you’re in a small market.