Design and Profitability: How to Benefit from a Great Branding?
A great design can improve a company’s performance by over 219% according to the Stock Market Index or the S&P Index in a decade, according to Adobe. Another 48% emphasized that the website design of any business is the first factor towards establishing whether a company is credible or not, reports Tyton Media.
In a world where technology is the first source of information, investing in great branding such as professional design sends a powerful message. For instance, an online casino with a user-friendly interface, quality customer service, and an array of attractive products will retain more clients than one without, especially when they offer TrueBlue casino $100 no deposit bonus. However, the first impression of a design maintains, convinces, and builds customer trust and relationships and earns you more money.
So, how exactly does a company benefit from great branding?
- Great branding creates Product Awareness;
- Great Branding builds customer relationships;
- Great Branding executes successful marketing campaigns;
- Great Branding provides quality and consistency;
- Great Branding makes you money.
Great Branding Creates Product Awareness
Individuals have a brief attention span, according to a study at Princeton University. The study results indicated that after an individual saw a face, within a tenth of a second, many people had already formed opinions on the individual and passed judgment regarding their appealing nature, likeability, or level of trustworthiness. After prolonged exposure to the same face, individual perceptions usually do not change. A study by Google further emphasized the short attention lifespan of around 17 to 50 seconds for individuals to form opinions regarding a specific website. For instance, 13% of individuals in a study highlighted that a remarkable and memorable logo for your business would get more customer attention. In comparison, 71.6% indicated that it would earn your business a strong positive response.
However, marketers have to capitalize on first impressions to build customer trust due to the short attention span. For instance, Megan Sullivan points out that “Packaging design, for example, can alter the perception of your product.” Another designer and author of Design fundamentals further emphasize this by indicating that “people are inherently biased towards beauty.” Therefore, by capitalizing on great design, you attract more customers and attention with each passing second!
Great Branding Builds Customer Relationships
Great designs are those that evoke emotions and develop a lasting relationship with a customer. Through quality colours on your product, better layouts on display, clear and precise functional descriptions, which are brief and to the point, a product becomes more memorable and emotionally connected to the customer. Therefore, a company product design should envision what the company stands for or strives to reach (Targets) and should capitalize on getting “Customers Hearts” and later “Their Wallets.” A quality visual identity secures customer loyalty and connects with suppliers or product developers through “Shared Values.”
Great Branding Provides Quality and Consistency
Have you ever imagined what would happen if Google changed the display of Search Engine Results pages, if Starbucks redefined their product range and removed coffee from the list, and finally if Mcdonald’s changed their company logo daily depending on the specials? I am already confused, and that would be the feeling you derive from the above statements. The present designs for Google, Starbucks, and Mcdonald’s are already memorable, and changing them would create inconsistencies. An inconsistent brand is not only puzzling but also appears “chaotic!”
Brands are a company’s identity within the public. Similarly, free pokies form the identities of most casinos online. The reason behind the identity is that a single brand can highlight all a company embodies. A quality brand involves a deliberated and informed choice of clients’ needs, indicates a company’s personality, and provides the service philosophy intended. However, consistency is “What makes a Great Brand Effective.”
Great Branding Executes Successful Marketing Campaigns
Great designs and brands require a marketing boost. There would be no profit with successful marketing campaigns. In this technological age, over 66.92% of individuals around the world can access a mobile device. Over 4.66 billion people were accessing and using the Internet as of January 2021. Over 3.6 billion of the world’s population use one form of social media platform or another, according to Statista. Therefore, social media has become a marketing channel aimed at reaching most people worldwide for companies.
However, quality social media platforms do not yield results with poor company designs. In research by Buffer conducted on Twitter, one of the successful social media platforms, marketing posts spotting pictures or images and the stock photo earned more tweets from potential clients than posts without an image for illustration! A pictorial representation of the text only. 60% of marketers worldwide also highlight the importance of quality design while using social media.
Great Branding Makes You Money
Insider reports that the uniqueness of a product positioning gives marketers control over the price and distribution channels. The argument behind control over price is that “marketers can key or lock-in desirable and unique traits, and the target audiences will more than likely pay the price. The reason is that buyers cannot attain a better product image anywhere, and thus, price control remains with the marketers. For instance, a baseball can cost around $3.50 in a regular store for sporting items. However, the baseball hit by Mack McGuire in his 70th Homerun went up to $3 million. The sale was in an auction and lasted for only 10 minutes.
Apple has the most unique and most desirable Branding for its products. Digital Trends reports that Apple sells its iPhone models at a double amount compared to their android phones. Insider highlights that “if branding offers sufficient uniqueness and desirability, then you can develop a pricing strategy that optimizes company profits!”
Summary
Great Branding benefits a company by increasing brand awareness, profits or money earned, consistent, quality customer relationships, and successful marketing campaigns. Design can improve the quality and price of a product fast and within a short period, as indicated by the Baseball example. It can help build and maintain client relations, ensure an emotional connection with a company and ensure product recognition within a short period. Using the above-learned information and collected data, we can say that design directly relates to a company’s Branding and profits generated at any given time.
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