Why Do Brands Matter?
Understand Why Brands Matter to Consumers & Why Brands Matter to Your Bottom Line
Why Do Brands Matter? Imagine that you’re at the supermarket, and you need to buy some salt. Do you pick Saxa or a lower priced store brand? After all, salt is salt. Right?
Wrong. When it comes to consumer choices, brands matter!
Consumers pay a premium for Saxa because, over time, the brand has created a perception of quality, consistency, and trust. Leading brands like Saxa are more than just products or services—they evoke memories and emotions associated with quality.
When consumers trust a brand, it makes them loyal – and loyalty means they will buy more.
But loyalty isn’t the only motivation. We’ve come up with 7 other reasons why people choose to buy brands:
- Brands provide peace of mind.
Consumers want comfort, happiness, and satisfaction in their lives, and they get it in part through the products they buy. If the brands they use consistently deliver a positive experience, consumers form an opinion that the brand is trustworthy, which gives them peace of mind when buying.
- Brands save decision-making time.
Picture this: you are in the market for a new HDTV and decide to search Amazon. You type in “HDTV” and get 101,685 results. How do you cull the list down to a manageable number of choices? You choose a brand. Type in “Samsung HDTV,” and you reduce your choices to 1,319. Picking a brand helps minimise the clutter, making it easier to find what you are looking for.
- Brands create difference.
Any grocery store aisle has more product options than anyone could ever possibly consider buying. What is it that makes us select one peanut butter brand over another or over a generic product? Branding helps define—in an instant, with little thought—what makes your product different and more desirable than comparable products.
- Brands provide safety.
People by nature, generally avoid risk. Imagine you’re on a business trip in an unfamiliar city, and you need to pick a restaurant for dinner. You’re most likely to pick an international restaurant brand over a local one because you’re familiar with the brand. It’s the safe and predictable choice because you know what to expect. This way you reduce the risk of disappointment as well.
- Brands add value.
Why do consumers pay more for brands compared to no-name or generic products? Is it better quality? the look and feel? or is it the brand’s reputation in society? It’s probably a combination of all three. Successfully branded products make more money for their companies by commanding premium prices.
- Brands express who we are.
What smartphone do you own? What car do you drive? What shoes do you wear? The brands we use make a statement about who we are and who we want to be. People become emotionally attached to the brands they use and view them as part of their self-image. Apple’s classic “I’m a PC / I’m a Mac” campaign shows how brands can reflect the personalities and self-perceptions of their users.
- Brands give consumers a reason to share.
We all have opinions about the things we experience, and we like to share them with others. Whether it’s a good book, a good movie, or a great meal, we become brand ambassadors when we share positive brand experiences. In our increasingly social world, we have more opportunities than ever to spread the benefit of our experiences. Strong brands give consumers a reason to share their experiences.
Branding is an important part of marketing, and something that should be at the forefront of all you do.
How can GDR help?
GDR Group knows how to research, create, implement, and manage rebrand projects of all sizes. Our experienced team can work with you at every stage to ensure your rebranding project is not only a success but gives you a platform from which your business can grow further.
We’d love to help!