Branding is the new thing. Everyone is doing it because it claims to give them an image, loyal customers, and most importantly, larger sales. To understand why do branding at all; read ‘Why should SMEs invest in branding?’
While branding, designing and marketing are important for businesses with customer bases big or small, it is particularly important for businesses that export their product. This includes all businesses like food exporters, engineering manufacturers etc.
When importing something, the importers, in this case, your clients will look at certain things such as your credentials, if you have the necessary permissions etc. As the exporter, you have perhaps done everything that is required for you to do in order to be engaged in the trade. But leaving branding out of the list is not a wise idea.
Here’s why you need to invest in branding, particularly if you are into exporting:
- Standing Out:
We’re sure you’ve put in a lot of thought into the name and designing of your company to make it sound and look unique, but so have your competitors. And the harsh truth is that not all cultures can pronounce everything you can, or more appropriately, not everything that stands out according to your culture will stand out for other cultures. The last thing you want is to be confused with a competitor.
Branding gives you recognition whether it’s in your own country or outside your country. By branding, you are creating an identity in the minds of your clients using visuals, catchy lines, sounds, stories etc. By affirming an identity in your client’s mind, you make sure that you make an impression in the customer’s mind, thus gaining recognition and establishing your sophistication.
- Preference Rank:
It has been significantly vocalized that the word, ‘brand’ gives you a more respectable reputation and is a great help when it comes to marketing. Individuals choose products that exist in their preference list. This preference list is often long encompassing a variety of your competitors, some of which have already invested in branding. So would you rather be someone’s first preference or emergency preference?
- Cultural Differences:
Some businesses like their visual appearance to reflect the culture the business was constructed in. Because there are cultural differences worldwide, the way something is perceived by different cultures is different. This means that you are subject to any possible country related stereotypes whether you like it or not. However, brands are subject to less critique than an individual company, since brands are often equated with quality products. Thus, stereotypes would not win over your product quality.
- Country Reputation:
When you are exporting a product to another country, you are not just representing your company, but you are representing the whole country. Surely, you’d prefer products by some countries as opposed to others, right? But the gist of the matter is that, thanks to globalization, a ‘brand’ has more weightage than ‘company’ in any given country. So when you present yourself as a brand from your home country, you gain more value as compared to merely a company.