The Importance of Creativity & Building Brand Identity

The Importance of Creativity & Building Brand Identity to Support Long Term Business Growth

By Mary Bonczkiewicz

KEY TAKEAWAY

Having a creative brand identity that is ever-adaptable for customers needs will ensure your business can make it through a recession or financial trouble. A strong brand identity will allow consumers to easily recognize your brand.

Your brand’s identity is its persona. It is comprised of your company’s name, voice, tagline, positioning, personality, and paints a clear picture of who your brand is.

Why is this so important for long-term business growth? If your customers don’t recognize your brand, they are less likely to be loyal to you. By having a strong, creative, and consistently-maintained brand identity, marketers predict that you can achieve a 10-20 percent growth increase. This is because of the following five reasons explored below: Differentiation, customer loyalty, reputation, innovation, and growth opportunities.

Reason #1. Differentiation Sets Your Brand Apart

Creativity can help your business stand out from competitors by offering unique solutions and ideas that distinguish your brand. A strong brand identity can further reinforce this differentiation and help customers easily recognize and remember your brand. Consistency across all parts of your business, including your logo, tagline, and any messaging that goes out to customers and employees allows people to easily recognize your brand and differentiate it from competitors. Knowing that differentiation is so vital, how do you get your identity to stand apart from your competitors?

The key is to think outside the box and to make sure your strategy is relevant today. Shockingly, many businesses still follow a brand strategy that was created in 1931. With how widely our world has changed since the thirties, it’s necessary to change your business strategy to keep up with the current needs of customers. A variety of factors effect businesses and how they need to operate including the financial market, the media, elections, current trends and lifestyles, and consumer behavior. In order to differentiate your brand identity in a positive way, you must remain agile, keep up with the times and adapt when necessary. Adaptation is vital to leveraging power. And it’s almost guaranteed to lead to growth, even in a looming recession.

Reason #2. Creativity Leads to More Loyal Customers

Your brand should creatively find ways to personalize messaging to your customers. In fact, 72 percent of consumers are more inclined to engage with your brand if the messages are tailored to them, and 93 percent of businesses report experiencing increased sales by targeting customers with customized messages. If your brand is experiencing a looming recession or financial trouble within its organization, it can be supported by looking internally to upkeep or maintain brand to drive long term growth at little to no cost.

There are three signs that will determine if your brand needs a revamp. One of those signs is when a brand isn’t reflective of the customers it serves. Building a strong brand identity can help create an emotional connection with customers, which can lead to increased loyalty and repeat business. Your goal should always be to celebrate the customers who make your business possible. Look at your brand through a DEI lens or revamp your brand identity through its look, voice, and tone to better serve your customer base.

Reason #3. A Well-Crafted Brand Identity Will Earn Your Business a Positive Reputation

If you look at any highly successful brand, they all have one thing in common: a reputation. McDonald’s is known for their red and yellow colors, the golden arch, their instantly recognizable jingle, and a clown named Ronald. Apple stands out from competitors and earns a trusted reputation through their products’ sleekness, the minimalistic look of their stores and advertisements, and the feeling of familiarity across all of their products.

A well-crafted brand identity can increase trust and attract new customers. Demonstrating a trusted voice and delivering engaging experiences that are recognizable to consumers entrusts a loyal reception of your brand. The global head of the LinkedIn B2B Institute, Jann Schwarz, says, “A strong brand is a force multiplier for any business and is the key to pricing power, which is more important than ever in a high-inflation economy.”

Reason #4. Smart Strategies Will Put Your Brand at the Forefront of Innovation

Brand identity is no longer just about what a brand does. Instead, its focus is on what the brand can do for an individual. Understanding this change in trajectory and being aware of the way marketing will look in the future, if following consumer trends, will make your brand evolution most successful. Innovation bolsters success in expanding marketing strategies and can get a company through financial setbacks by ensuring customers that your brand is still relevant and will evolve to keep with its customer’s needs.

Additionally, It takes an insightful and well-rounded group of people to make your brand innovative and a leader in your industry. Theorem identified these roles necessary to revamp your brand: marketing manager, creative director, designer, copywriter, and project manager — all working cohesively. Smart companies will work to find diverse creative talent to fill these roles. The diversity in your marketing and creative departments can together gather ideas that will be distinguishable from previous brand strategies.

Reason #5. Creative Brand Identity is Integral for Growth

A strong brand identity and creative approach can help your business expand into new markets, attract new customers, and develop partnerships with other businesses. In 2022, LinkedIn research showed that 89 percent of marketers surveyed indicated that brand building is as important to driving long-term revenue growth in B2B businesses as it is in B2C markets. A successful brand identity can produce returns on your investment in the form of lead generation, new customers, customer retention, and referrals. Make sure to reflect back on your company goals when revamping and maintaining your brand identity to see how it benefits your company financially and through customer retention.

A Strategically Built Brand Identity Can Bolster Your Finances and Attract More Customers

With brand identity tying into every key aspect of your business, you must put it at the forefront of how you operate. Differentiating and innovating your brand identity will launch your business to new heights financially and likely get you through looming recessions through customer loyalty and retention. If your brand needs help perfecting its identity, check out Theorem’s guide to successfully revamping and relaunching your brand.

Does your business need help formulating a cohesive brand identity?

Our Brand Revamp eBook anecdotes how to build a cohesive and
creative brand identity that can support long-term business growth.

Learn More

Subscribe to Our Blog

Digital challenge?

We have your solution.

Discover how Theorem can transform your business.

LET’S TALK

LEARN MORE

JOIN OUR TEAM