It is a common misconception that branding is limited to the visual identity (re)design. There's even narrower thinking that the brand is equal to the logo itself. A brand is not a logo because the logo is only a visual identifier of your brand. The good branding project should have a positive impact on the overall business of the company. So, here are some key benefits of branding:‍‍

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1) Detects and emphasizes your advantages over the competition

As no man "is an island, completely on his own", neither companies are alone, but operate in the environment of other companies and competition. In order for customers to choose you, it is necessary to research the market, analyse your main competitors and determine what are your main advantages and disadvantages in relation to them. Good brand strategy, built upon these findings, emphasizes all your advantages.‍‍

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2) It allows you to advertise more effectively for less money

Market analysis will also make it possible to define the target audience. Creating a profile of your typical customer at this stage will be extremely important for all further marketing activities. That will enable focused advertising which will save you a lot of money. Namely, targeted marketing means that your ads won't be shown to the uninterested audience anymore. Marketing campaigns will only include ads that are shown to a pre-defined target audience.

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3) Helps you better define your prices

The brand strategy in its central part determines which would be the ideal position of the company in relation to the market, competition and customers. For example, your brand can be positioned as a best-buy solution, ie offer quality service at a competitive price. Once we determine your ideal market position, you can easily assess whether your current prices are too high or too low relative to that position and whether you need to correct them.‍‍

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4) Provides an answer to the question of how to communicate with customers

The question is not only how, but through which channels to communicate with your customers. Determining the profile of your target audience will help you choose the adequate brand voice and brand tone. Furthermore, it will help you choose the right communication channels and platforms your typical customer use.‍‍

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5) Helps customers choose you

The good branding will clearly position your brand in the market and set it apart from the competition. Well communicated purpose of your brand will help customers to find exactly what they are looking for, if your offer fits their needs. On the other hand, vague and contradictory communication of brand's purpose can divert potential customers from you, even if you are a good match.‍

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By highlighting some of the key benefits branding can have on your business, we want to point out that branding is not just a decoration in the form of a logo or colorful packaging of your product. Due to its importance, branding should be an integral part of your company's development strategy from the very beginning.