Consistent branding is key. Even though you may be tempted to do so, this is not the time to reduce or downgrade your branding efforts.

Current business climate

All businesses have been faced with turbulent times in recent years. Of course, the COVID-19 pandemic has probably had the biggest impact, though we are now faced with the increasing cost of goods and products influenced by a range of factors, rising inflation and the continual interest rate hikes that follow, creating economic uncertainty for almost all of us.

During such times of uncertainty, it is only natural for us, as human beings, to want to pull our heads in and tighten the purse drawstrings to try to protect ourselves from the perceived threats that are currently swirling around us. But that is actually the worst thing you can do for your brand.

Protect your market share

The market share of your business is the percentage you control of the total market for your goods and services. Although there are many drivers of market share, having a strong brand image is important in maintaining customer loyalty and persuading clients to continue buying your products into the future. A strong brand image also helps to differentiate your products from those of your competitors – and we all know competitors are always a large threat in business.

So, what is brand image?

Brand image, also known as brand identity, combines all tangible elements that allow people to instantly recognise your brand – and is essentially how your company or your products are portrayed to your customers.

However, brand image is much more powerful than just a name or logo. A strong brand encompasses a customer’s complete experience with a product and can influence their buying habits.

For businesses that have a strong brand image, people will often instantly recognise their products through their brand (logo or another form of branding) even before they see the product itself!

Brand image is also the key factor that distinguishes your product from competing products, helping you gain as well as maintain market share. When there is an influx of available brands in a particular market, consumers will often make their buying decisions based on brand image rather than the actual product! That is how powerful it can be.

Consistent branding is key 

This is not the time to reduce or downgrade your branding efforts. Doing this could give your competitors an opportunity to increase their branding efforts, encouraging or enticing people to switch brands. It could also have a long-term effect. Let’s illustrate this with a theoretical example.

Example – ABC Barbeques

ABC Barbeques operates in a market heavy with competitors. They have always had a great reputation, and have always used large, high-impact LunaKrome™ badges on their barbeques, so their brand is easily identifiable and frequently seen both by the owner of the barbeque, and all visitors to their home.

Let’s say they decide to cut costs in this tightened economic environment and choose to no longer brand their products. Not only will they lose the opportunity now for instant brand recognition on their barbecues, but this lost opportunity will continue for the next 10 years or more, for the entire life of the product. Therefore, the brand image continues to be eroded over the next decade due to its reduced visibility in the market. This will allow competitors to pounce!

This example could just as easily apply to any business, industry or product.

So how can you counteract this?

The best way to ensure you maintain your market share is to maintain your brand image. Branding is integral to your brand image. Your logo, colours and fonts, used consistently across your products, will help to reinforce your brand consistently to your target audience. 

LNI provides a vast range of branding solutions to its customers. Whether it be a LunaKrome™ or VIG 3D chrome badge, a Lenscal domed badge, Premium Decorative metal nameplate or some other form of a label, LNI’s Technical Division will identify the correct materials, processes and product solutions to suit our customers’ requirements. 

The market is very crowded. Ensure you continue to get consumers' attention, so you don’t get lost.

Contact us

At LNI, we have been supplying branding solutions to our customers for decades. Our branding solutions are your brand ambassadors! 

We help to protect your brand image by working with you to create badges, labels or nameplates that now only look great on your product – but suit the environment they are used in and will last for the life of your product. 

Talk to us today to discuss branding solutions for your products to help maintain your market presence in these trying times!