8 key reasons why branding is important for your construction business
Think about this for a moment:
Everything we know about the products and services we use is because of branding.
In contrast, many construction enterprises overlook branding because they see themselves as businesses and not as brands. They tend to think of brands as these behemoths with bottomless budgets and recognizable nationally.
With that attitude, the best these companies can do is a simple logo and maybe some stylish business cards.
But that’s not enough.
Your brand is how your customer regards your venture. It’s the entire customer experience from the logo, your website, your social media to how you answer customer queries.
And great brands don’t just happen. It’s intentional and involves a well-thought out plan.
First, let’s get down to the basics.
What is Branding?
Branding is everything. It’s about creating a unique identity from your competitors while also creating a strong, positive perception of your business in your customer’s mind.
Branding could involve having a name, symbol or design that distinguishes you from competitors. Also, branding is not something you do once your construction business has grown. You need to start when small and consistently maintain it as you expand.
And in case you’re wondering...
What’s The Difference Between Branding and Marketing?
With all the buzzwords being used in business, sometimes branding and marketing tend to be mixed up. But the truth is that these two concepts are as different as day and night.
On the one hand, marketing involves the tools, strategies and processes that you use to actively promote your company. Simply, marketing describes the actions you take to engage your customers and get them to buy your products and services.
On the other hand, branding is part of marketing. In other words, while marketing is what gets your customers’ attention, branding is how you keep them interested.
Why is Branding Important?
Whether big or small, branding is critical for every business. Here’s why:
#1. Your business gets recognition
Branding helps your business get known by customers. For instance, one of the key components of a brand is the logo. It’s the “face” of a business because it’s what the majority instantly recognize. The goal is to make the logo simple enough to be memorable, and equally powerful to create the desired impression of your enterprise.
Additionally, people tend to do business with construction companies they’re familiar with. And with easily recognizable and consistent branding, people are comfortable purchasing your products and services.
#2. Increases business value
A great brand provides value to your business way beyond physical assets. Another way to think about it is brand equity.
To explain, when people think highly of a brand, it has a positive brand equity. In this case, customers perceive that a brand’s goods are worth more than a competitor’s products.
You have more leverage in the construction industry and can charge more for your merchandise.
#3. Generates new customers
Let’s be honest. We love talking about brands we like.
With a strong brand it means that consumers have a positive impression about your business. There’s familiarity and a name customers can trust. Also, people want to do business with brands they believe in.
For example, let’s assume you have just bought some irresistible golf clubs. It would be difficult to tell your friend about the purchase if you can’t recall the brand, right?
Now imagine how branding will help you to get more referrals for your construction business. Because you see, with a well-established brand, giving referrals is effortless.
And finally, a brand can use its power to enter into new geographical markets.
#4. Boosts employee job satisfaction
People want to work with well-known brands. As a result, branding helps you attract top talent. And by working with the best, your company’s productivity improves.
Additionally, just like customers, employees also need a story. They want to know what they do and why they do it.
Enter branding. It creates a sense of belonging in the company. If employees truly believe the values behind the brand, they are inspired to carry the firm’s vision and mission forward. They take pride in what they do and are more satisfied with their job. And when people feel great working for you, they stay longer.
#5. Creates trust with your audience
Branding helps your business to have a professional appearance. In addition to telling your company’s story in an instant, it also provides social proof that you offer quality products and services.
The aim is to have your brand easily explained with a few descriptions. And when well-executed, branding builds trust and people are comfortable doing business with you.
We tend to do business with companies that sound and look professional.
#6. Sets your business apart from the competition
Choosing from a wide variety of products is challenging. When faced with such, consumers lean towards companies they know and trust. They perceive the well-known brands as safer to buy from.
Also, without branding, competitors can imitate your superior products and services and claim your success. But with branding, they won’t be able to take your authenticity away. In other words, it’s hard for rivals to replicate your mission and values.
#7. Builds clarity and focus
Branding helps tell the story of who you are as a business and who you aren’t. This is critical for your company’s success because not everyone is your potential customer. As you probably know, trying to attract everyone is disastrous because you will be spreading yourself too thin.
Equally important, branding helps you develop an identity. This personality becomes your north star whenever opportunities come knocking. In that case, if something doesn’t align with the promise customers can expect from you, then it can be ignored.
#8. Guides advertising and marketing
As seen in the previous point, branding helps build your identity. You know what kind of business you are and are not. You understand the kind of emotions that your customers should feel when working with you.
It focuses your marketing and advertising efforts. You now know what to say to customers and how to say it. Consequently, you’re able to squeeze more value from your marketing budget.
Don’t Underestimate The Benefit of Branding
Today, branding is more important than ever. And no, building a great brand won’t happen overnight. It takes time and that’s why many businesses neglect it without realizing it’s value.
Yes, branding costs money. Don’t classify it as an expense. Look at it differently as an investment that can yield tremendous benefits such as increasing the value of your company, acquiring new customers and providing employees with direction.
All in all, it’s about taking your construction business to the next level. Can you really afford not to?