Do you ever think about why you want to buy branded products or services?
Why do you want a well-reputed company’s product?
Well, I will share with you the exact cause of choosing a brand.
How does branding affect selling?
Let’s start with an example
Suppose you have the same Nike shoe of Nike and the same shoe they have in their store with their logo.
Your shoe doesn’t have its logo. Could you sell the shoe for $500 dollars? That Nike does.
You can’t. Because you don’t have brand value. People don’t trust you.
This is the main thing of branding.
When you create a brand you will see that people are buying from you even with more money.
Before we get into that, we need to understand why people buy branded things.
- Trust – If I buy from a brand, the product quality will be high, long-lasting, and not damaged yearly.
- Psychology – When we buy a branded product we feel more loyal and rich. We show our ability and pride.
This is only for brands. If you don’t have a brand, you can never sell at a standard or high price.
Same product, the same quality that you can’t sell at the price that Nike will sell.
How do you create a brand?
The steps to create your own brand are:
1. High Product / Service Quality
This is the mandatory and primary step.
You must be consistent on this. For example, 6 months you are selling shoes, after 6 months you are selling cakes and after 6 months you are selling something else.
If you do this people will not trust you. People will think you are a vagabond.
You do business with whatever you get. You have no specific brand.
The more you can do proper marketing, the easier it is to get the message of your product or service to the people, the more your brand will grow.
But people will not buy your product in the first place. What do people actually buy first? Talk, guideline!
suppose I will buy the product from you, will I not take the guideline from you?
When you can guide me well to meet my needs, I will absolutely buy from you. Right?
This is the main priority of humans. You should follow this strategy if you want to build your brand.
The brightest examples of branding are that,
- Apple doesn’t make the best phone in the world, their product does show a status.
- McDonald’s they don’t make the best burgers in the world, they’re cheap and have fast delivery.
- Toyota is not your dream car. But why are they so popular? Because their car is very easy and reliable.
- Starbucks doesn’t make the best coffee in the world, they will make you happy with their environment.
When a brand solves such problems, its popularity increases a lot.
In the same way, I’m telling you that because I am doing self-branding.
Why it’s called the power of branding, when you create a brand, people will pay 50% for your product cost and the other 50% for your brand value.
Why do people buy such expensive things, buy branded things, why don’t they buy non-branded things at such a high price.
Because they know that if I buy branded things I will have this profit. And the work that needs to be done to create a brand.
These must be maintained by those of you who want to do business. The future of the world is moving towards the brand.
You see, all the billion-dollar companies are brands now. But everyone knows the name of these companies. Their logo represents their brand.
When you can create your brand like this, you will see that at some point everyone is recognizing your brand with your logo.
This is the power of branding. What you are now selling for $100 can be sold for $500 after creating the brand.
In this case, ROI is very high, which is what we all want.
Boyshero is one of the top Small Business Social Media Strategies agency.