Did you know 75% of tech startups, especially Fintech, crash within two decades? Well, Exploding Topics says this.
Though Australia’s tech ecosystem was indeed record-breaking in 2021, but in today’s golden tech age, many tech companies rise and fall, and you know what’s that one perception or process that has a central role in the downward trajectory of tech companies?
Branding is essential in today’s dog-eat-dog world as it defines and separates you from this highly competitive tech industry.
It helps the company get recognition; a stronger brand makes people take note of a company or its products than one without proper branding.
But these tech companies often leave branding, designing, and marketing at the bottom of their budget list in contrast with other priorities.
And whenever branding is ignored or abandoned, the bottom line suffers.
So rather than ignoring, nail your branding game because this step shows your target customers that your brand has a trustworthy authority and strong principles.
And this cohesive message not only encourages your target customers to spend more but also makes them devoted towards your brand. To avoid being part of the statistic, consider collaborating with a professional design agency that understands your needs and the market dynamics.
There are many reasons as to why branding is important:
- It all starts with building trust. If you have strong branding down the line, people are more likely to trust your company and will be inclined to do business with you. And in the context of the tech industry, where countless products are being launched daily, it’s crucial to have a unique branding strategy that can help you build trust and let you stand out among your competitors.
- In today’s high-tech arena, many tech brands are locked in the fiercely competitive business space. Though, indeed that good products matter but so does branding. And sometimes, the brand matters (the most), even more than the technical disparities between the two products.
- Building brand awareness takes 5-7 brand impressions; otherwise, customers don’t remember.
- Strong branding helps many tech industrialists to retain their old clients as well as helps in onboarding new ones.
- If your branding is well managed, it adds a driving force called perceived value to your offering, which makes your target customers pay more. And there’s a statistics which back up this statement, which says consistency in branding adds 10% more in revenue growth.
- Lastly, if you’ve abandoned or are using poor branding techniques, mate, it’s time to apply new techniques to help your tech brand scale.
You see when a tech company focuses too much on product marketing, its marketing budget stretches and the message it wants to convey gets thinner.
So if you’re thinking, why is it happening? Just rephrase your question into Why not?
Let’s talk about the benefits for a clear insight:
- You must have heard this phrase which goes like “A lie can travel halfway around the world while the truth is putting on its shoes”.
- But how does it relate?
- Well, nowadays, it just takes a handful of tweets and instant messaging to put your brand in a bad light.
- But one thing which can save your brand from this light is effective branding, and that too if done by design experts. The design experts give you room to frame your responses so that you can control your narrative from the beginning.
- The design agency helps you formulate improbable branding strategies that curate a distinctive identity around your target customers, ultimately leading to loyalty.
- Spotify is the perfect example in this case.
- The consistent image of your tech company through branding curates a unique identity for your potential clients, customers, and stakeholders.
You can get the right branding for your tech company if you have the assistance of Melbourne’s best design agency by your side.
You see, these agencies have their steps of nailing the branding game. And they start by creating a solid brand strategy that defines the core of your tech brand, which further gets translated into a brand identity.
This identity further curates exceptional communication that customers remember.
Which is what a tech brand requires.
Also, remember that if you want your brand to shine, you must consistently present it 3.5 times more in contrast with other brands with an inconsistent brand identity.