What is Branding in Business | Importance of Branding in Business

Branding is none other than an exclusive marketing practice of making a name, design, or symbol. This is one kind of mark that is made to make a unique identity, and one can easily identify the personal belonging of that company. Branding has another purpose also. This facilitates the classification of a particular product and to distinguish it from the other ones.

For an impressive impression, branding is important as it has a great impact on the consumer’s psychology.

It also allows the customers and clients of any company to identify what they can expect from that particular company. So, this is a way of achieving distinctiveness over all the competitors, and this is the opportunity to clarify what is that unique product you offer and makes you an improved alternative. Advertising, promotional merchandise, customer service, logo design, and reputation, all these are diverse areas that are used to build up a brand. All of these elements are working together to create one particular and attention-grabbing specialized profile in the business world.

What is Branding in Business & What is Importance of Branding in Business?

The basic concept of Branding is completely critical for the industry because of the general impact it makes on any company. Branding can change people’s perceptions and can drive new businesses increasing brand understanding.

Effective branding is another cornerstone of any practical marketing strategy, and if you want to grow your business, then this kind of effective branding creates an endurable perception in the minds of your customers and differentiates you from other competitors.

  • Branding gets recognition

Branding gives recognition to a business. A company gets acknowledgment and becomes known to the consumers after making a personal brand. Here the logo design services has the most important role to play particularly in that place where this issue is concerned. This is the face of the company, and that is why a specialized logo design should be powerful so that it can be easily unforgettable, making a permanent impression on an individual at first glance.

  • Branding enhances the value of Business

What is branding in business is a very good question so The presence of Branding is important when one is trying to do future business. A strongly recognized brand can amplify the value of any business by giving the company more influence in the market. Thus branding is a way of making more appealing investment openings because of its firmly established designation in the marketplace.

  • New Customers are generated by Branding

For a reputed brand, there will be no difficulty drumming up any referral business. The other name of Strong Branding refers that the impression of that particular company is very positive amongst the consumers. Any other big brand will be interested in making a business relationship with you because of the familiarity of your brand that assures the reliability of using a name that they can trust. When a brand is well-established, word of mouth is the company’s greatest advertising technique. Debt Consolidation Reviews make you informed about the consumer’s standpoint and this, in the long run, may help you to decide your business strategy.

  • Develops Employee Satisfaction

Those employees who work for a branded group truly standing behind it will be more hopeful for their job and they have a higher degree of satisfaction in the work that they perform. Working under a branded group boosts the performance of the employees and makes working for that company more pleasing. If you have a branded office, it can help to make the employees more satisfied and a sense of belonging acts as promotional merchandise.

  • Build faith in the market

Modern customers depend on the professional look and well-strategized branding. So, with the help of branding the company build confidence with consumers, they also potential clients and would-be customers. People also like to do business with a group that has a graceful and professional representation. A properly branded gesture gives the feeling of being an industry professional, and it makes a public feeling so that they can trust your company, they can trust your products and the services as well it offers.

  • Advertising to support Branding

Another big component of branding is advertising. Different advertising strategies directly reflect the brand in front of the public and thus make its desired interpretation. For promotion, any company’s product Advertising techniques are a very useful tool. Promotional goods from any reputed group make it easier to create an organized and attractive strategy of advertising that plays well into any branding goals.

  • Branding increases the value of your offering

You can remember that we have discussed how branding helps in making an impact on a customer’s daily life. That is why people are ready to pay more for a reputed name over that of their opponents. This is only the branding that elevates any offering from a common commodity to an exceptional product. It also allows the owner of the product to charge a premium.

  • An improved brand refers to better marketing

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It is a very common rule that products that have narrow life cycles, but reputed brands—if handled well—last without end. And if you can nail down what exactly you are as a reliable brand, it becomes easier for you to market it. It is your brand bible that, after going on market research and investigation, would give you a strategic advantage to determine the best approach to the market for your products. For this, you should focus on traditional advertising. By consulting continually with your brand guide, you should try to focus on the business tactics that matter.

So the actual purpose of branding is to help your customers to understand what you present for them and how you’re special. But it’s not only a unique selling proposition; rather it is the amalgamation of all those ways by which you can communicate what you stand for.

The other ways of Branding( Importance of Branding in Business):

But not only with your logo you can speak about your brand message there are many more which you can use for the same purpose. They are-

  • The environment of your store
  • Your staff‘s attitude towards customers
  • The dress of your staff members
  • The products itself
  • The price of your product
  • Outer packaging
  • Public dealings
  • Sponsorship
  • Nonprofit partnerships
  • Advertising

All these are also some important conditions that also help to shape up your business or your brand so that is how branding works.

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Startups – Rapid Growth and Innovation is in Our Very Nature!

What You Need to Know About Unsecured Business Loans

As a small business owner, you may need financing at some point. You might need help purchasing an asset, expanding your business and more. No matter the reason, an unsecured business loan can help.

Whether you’re struggling due to the COVID-19 pandemic or are looking for help with business needs to expand, there are unsecured business loan options out there.

Let’s take a closer look at this funding option and how it could help your business.


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What is an unsecured business loan?

An unsecured business loan is commercial financing without putting up any collateral. Without using collateral, the loan application is evaluated based on the the business’ proven track record along with your creditworthiness.

The business can use the funds from an unsecured business loan to support the operations of the business.

Is collateral needed for an unsecured business loan?

With secured business loans, the business needs to provide some type of business asset as collateral for the loan. If the business were to default on a secured loan, the lender could sell the collateral assets to recoup their losses. A few examples of collateral could be the business’ property, business bank accounts or heavy equipment.

When you apply for an unsecured business loan, the business will not be expected to put down collateral. With that, you will not need to provide an asset for the lender to consider as collateral.

Without the burden of providing collateral, unsecured business loans provide an opportunity for businesses to meet their funding needs. A business can obtain the funding it needs without putting its assets on the line.

What are the benefits of an unsecured business loan?

The major benefit of an unsecured business loan is that the business will not need to provide collateral for the loan. Many businesses simply do not have large business assets that could serve as collateral for a loan.

Without the added hurdle of providing collateral, the unsecured business loan process is typically quick. Additionally, it can be easier to qualify for these more flexible loans.

What are the drawbacks of an unsecured business loan?

When applying for an unsecured business loan, some funders do require a personal guarantee. With a personal guarantee, the business owner is personally promising to repay the loan, with personal funds, in the event the business defaults on the loan. If this were to happen, it could significantly damage your credit score.

Certain lenders may require a personal guarantee. If you aren’t willing to make that commitment, then don’t feel obligated to sign on the dotted line. Although your business may need the funds, you may not want to put your personal assets in danger.

Another drawback of an unsecured business loan includes generally higher rates or fees. This is because the lender is taking on more risk by providing a loan without any collateral as guarantee. With a higher risk for the lender, the loan terms will likely include a higher rate or fee.


Related: What You Need to Know About Collateral Loans

Types of unsecured business loans

Here are a few unsecured business loan options to explore:

Small business loan

If you need a lump sum of cash to fund your business needs, a small business loan could be helpful. With a variety of loan terms, you can apply for a timeline that suits your business needs. Plus, you can seek out repayment plans that work with your cash flow.

Depending on your business, you could have access to a high dollar loan amount. But be wary of the rates and fees that could affect the total cost of the loan.

Line of credit

If you need cash to fund predictable needs, a line of credit could be a good solution. The best part about a line of credit is that you only have to take out what you need. When you pull funds from the line of credit, then you can start your repayment plan. This could be useful for long-term spending needs that you foresee happening on a regular basis.

Although there are other unsecured financing options out there for your small business, these two options are a great place to get started.


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How to qualify for an unsecured business loan

If you are interested in applying for an unsecured business loan, then take a minute to understand the qualifications.

Here are a few things that a lender will consider:

  • Business income. If you are applying for a business loan, it is important that you can provide a record of past business income. In most cases, you’ll need a sizable business income to qualify for a loan.
  • Credit history. A lender will consider your business’ credit history. The exact credit requirement for a loan will vary based on the lender.
  • A plan for the funds. Most lenders will want to know how you’re going to use the funds to improve your business.
  • Age of the business. How long you’ve been in business will be taken into account throughout the loan process. If your business is relatively young, then you may have a more difficult time securing financing.

As you move forward with the application process, consider these factors. You will want to maximize the potential for a successful application by improving these areas of your business.

Are there unsecured business loans for bad credit?

As you noticed, lenders will consider your credit history as a part of your application. Although it can be more challenging to obtain a business loan with bad credit, it is possible. If you have an established business with many years of stable annual revenue, then a bad credit score might not be a major impediment.

If you don’t have a long business history, consider seeking out a co-signer who is willing to take responsibility for the loan. With a co-signer, you may be able to obtain financing without a great credit score.

There are unsecured loan options for businesses with bad credit. Some of the most common loan types offered to small businesses with bad credit include short-term loans, short-term lines of credit and working capital loans. But you’ll need to seek out small business lenders that are willing to work with your credit range that provide a loan that is well suited for your small business.

The bottom line

It is possible to obtain unsecured small business loans. Like with any financing opportunity, it’s always important to understand the fine print to make the best decision for your business.

The post What You Need to Know About Unsecured Business Loans appeared first on StartupNation.

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WJR Business Beat with Jeff Sloan: Top 5 Fastest Growing Sectors of Startup Venture Capital Investment in 2020 (Episode 166)

Did you now that Q4 of 2020 saw the greatest number of startup companies being launched than ever before in our country’s history? If you’re ready to start a business but just don’t know what business to get started, you’re not alone.

To help you figure out what business to start, we’re sharing some incredibly valuable insights from Tomasz Tunguz, director of the Redpoint venture capital firm. Tomasz breaks down the top categories that saw the biggest increase in venture capital investment in 2020.

Tune in to this morning’s WJR Business Beat to hear Jeff share the top five fastest growing sectors of startup investment:

Tune in to News/Talk 760 AM WJR weekday mornings at 7:11 a.m. for the WJR Business Beat. Listeners outside of the Detroit area can listen live HERE.

Are you an entrepreneur with a great story to share? If so, contact us at editor@startupnation.com and we’ll feature you on an upcoming segment of the WJR Business Beat!

Good morning, Paul.

2020 will certainly be known as a very unique year; let’s hope we don’t see one like that again. But, some good things happened worth highlighting, and one of those good things? How about more startups being started today than ever before? In fact, Q4 2020 saw the greatest number of startup companies being launched than ever before in our country’s history.

Look, if you’ve been dreaming about starting a business of your own, simply put, now is the time. There’s never been a better time than right now. Everything you need to start a company, from the technology that you need, to sourcing inventory, to marketing the company once you’ve got it up and running, is at your fingertips.

And if you agree that the time is now, but just don’t know what business to get started, don’t worry, you’re not alone. Many face the same issue.

To help you figure out what business to start, we’ve got some high-value intelligence out of Silicon Valley. It comes from Tomasz Tunguz, who is the director of the Redpoint venture capital firm.

Tomasz breaks down the top categories that saw the biggest increase in venture capital investment in 2020. Here’s the top five:

Number one, quantum computing. Number two, dating platforms. Number three, battery technology. Number four, video conferencing. Ever heard of Zoom? Number five, music streaming.

So, look, admittedly, many of the hot sectors in technology are just simply too esoteric or specialized to be a practical choice as a sector to start a business in for most of us. But, understanding important trends, following the sectors that are hot, can act as a guidepost to lead you to an area to focus your energy and your creativity in, in order to come up with a business idea that is right for you.

And if you pursue a business that’s in a hot sector with lots of funding activity, your chance to make it big goes way up.

I’m Jeff Sloan, founder and CEO of StartupNation.com, and that’s today’s Business Beat on the Great Voice of the Great Lakes, WJR.

The post WJR Business Beat with Jeff Sloan: Top 5 Fastest Growing Sectors of Startup Venture Capital Investment in 2020 (Episode 166) appeared first on StartupNation.

StartupNation

Global Business Centre Market Growth- Allwork.Space, Regus, CSO, Servcorp, Instant, etc – KSU | The Sentinel Newspaper – KSU | The Sentinel Newspaper

Global Business Centre Market Growth- Allwork.Space, Regus, CSO, Servcorp, Instant, etc – KSU | The Sentinel Newspaper  KSU | The Sentinel Newspaper
“nigeria startups when:7d” – Google News

Paris-based Ringover secures €10M to simplify your business phone system; here’s how

Ringover

The Cloud is on the rise! Cloud-based solutions are the quintessential answer to various organisational problems at present. 

Particularly in the communication industry, Cloud-based solutions are paving new ways for the new and innovative business model, allowing companies to scale across the globe.

The recent COVID-19 pandemic has significantly pushed the use of cloud communications further than most people expected. With lockdowns and remote working, many companies adopted cloud telephony services due to their flexibility and cost-efficiency. 

Secured €10M to power communication 

Based out of Paris, Ringover is one such company that tries to fill this gap with its all-in-one communication solution for SMEs. Recently, the French SaaS company has raised €10M in Series A funding from Expedition Growth Capital to power its communication platform. 

The new funding will allow the company to roll out new innovative features to the platform, grow the team by 100 people, and expand its reach in countries such as Spain, the US, and the UK.

Simple & intuitive solution

Back in 2005, two telecom enthusiasts – Jean-Samuel Najnudel and Renaud Charvet wanted to develop simple & intuitive communication solutions that help companies to focus on their core business. And thus Ringover was born. 

After three years of development, the company transformed the business phone system from a limited tool into an easy-to-use software product, accessible from anywhere, at any time, without the need for specialist support, according to the company. 

Right now, the company combines unlimited calling, call centre tools, shared messaging and video conferencing into one easy-to-use application for SMEs. Recently, Ringover added various tools like real-time statistics, supervision, and coaching features to improve sales onboarding and remote training. 

800 per cent increase in revenues

According to the company, “Ringover has seen phenomenal growth and demand for its product since 2018, with revenues increasing over 800 per cent and more than 10,000 companies now opting for Ringover’s easy-to-use software which integrates with top CRM and Helpdesk tools to boost productivity.”

The French company works with European tech recruitment platform talent.io, digital marketing platform Sendinblue, and freelancer marketplace Malt. 

Renaud Charvet, Ringover CEO, and co-founder says: “Ringover’s mission is to become a major player in enterprise communications through providing its all-in-one communications solution to SMEs around the world. The past year has demonstrated the need for scalable solutions, accessible anytime and anywhere, which are integrated with business tools to boost productivity. We look forward to working with Expedition Growth Capital to bring Ringover’s tech to more SMEs around the world to assist them in running their businesses in the most efficient way possible.”

Startups – Silicon Canals

Starting an E-Commerce Business in 2021? Keep These 6 Key Trends in Mind

If you’re thinking about starting an e-commerce business, you’re in good company. E-commerce is booming, with sales from last year’s Black Friday and Cyber Monday hitting $ 10.8 billion in a single weekend. And growth is only accelerating: by 2022, the global e-commerce market is expected to reach $ 6.5 trillion.

Not only is the demand for online shopping skyrocketing, but it’s also never been easier to start an online business. Almost every part of running an online business, from sales to logistics to design, can be easily managed through user-friendly tech platforms and software.


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Even so, turning your venture into a successful, revenue-generating company is a little more difficult. To improve your odds, keep these six key trends in mind to start your e-commerce business in 2021.

Pick a niche with growth potential

With an estimated 12 to 24 million e-commerce sites globally (and more being created every day), it is vital to stand out from the crowd. In any business, online or not, the bottom line is that if you try to sell to everybody, you end up selling to nobody. This is particularly true in the extremely competitive world of e-commerce.

Look for niches where demand is growing and carefully target your audience in order to differentiate yourself from competitors. And once you’ve got your store up and running, a great way to narrow your niche or further define your product offerings is by surveying your current customers. Consumer feedback can help you find in-depth information and discover any commonalities among your customers that can help you narrow your niche even further.

Today’s consumers want customization

Tailor-made products have always been customer favorites. In recent years, e-commerce stores have been setting themselves apart by offering customized products within their niches.

Advancements in technology have made it much easier to create personalized products to meet consumer demand. Some online stores have built their entire business on product customization, while others are slowly incorporating the process into their store to enrich the consumer’s shopping experience.

According to a recent Deloitte study, one in five consumers are willing to pay 20% more for a customized or exclusive product, and 46% of consumers say they are happy to wait longer to get their personalized product or service.

Implementing customized products in your online business is a great way to build customer loyalty, generate word-of-mouth marketing, and ultimately drive more sales.


Related: 5 Things E-Commerce Startups Should Focus on for Success in 2021

Consumers expect transparency

It has never been more important for businesses to manage consumer expectations.

According to Salesforce, a whopping 76% of consumers assume companies understand their needs and expectations. For e-commerce brands, a great way to do this is by clearly and explicitly communicating order information. In an Amazon Prime world where products are shipped in two days (and sometimes, the very same day), many consumers expect to receive their products relatively quickly.

As happened at the beginning of the COVID-19 pandemic in the spring and during the recent holiday season, external factors can cause delays in producing and shipping products.

E-commerce brands need to communicate with customers before, during, and after they place an order to address their concerns, including:

  • Addressing shipping delays or any other known issues on your homepage and product pages.
  • Reinforcing those messages during checkout, including estimated shipping and arrival times so that your consumer isn’t frustrated by uncontrollable delays or disruptions in the supply chain.
  • Updating transaction emails. Typically, the two main transactional emails consumers receive are the order confirmation email and the shipping confirmation email. An additional email you may want to consider including is an order delivery confirmation. This notifies the consumer, who is waiting patiently for their order, that their package has arrived.

Instagram is the new Google

If you’re starting a product-based e-commerce business, then you understand the power of Instagram and why it should be an essential part of your marketing strategy.

More and more consumers are actually using Instagram, not Google, to find new brands or more information about products.

According to a survey conducted by Sprout Social, 83% of people surveyed use Instagram to discover new products or services, and 80% use Instagram to decide whether to buy a product or service.

If you’re not using Instagram to sell your product, now is the time to start. Your brand’s Instagram profile has to essentially become your second homepage and may even be more important than the first.

Try these cost-effective and proven ways to transform your brand’s Instagram profile into a steady source of sales:

  • Build out your storefront on Instagram Shopping. With your Instagram storefront, customers can browse and shop all of your offerings across Facebook and Instagram. You can even create curated collections in your storefront to fit with trends and seasons. Your customers may even forget they’re not shopping on your website!
  • Create Reels. Instagram has been testing new interface layouts that incorporate access to Reels from the homepage so users can easily watch videos. They have also been prioritizing Reels in the main feed in order to increase engagement and adoption. While Instagram built Reels to support creators and influencers, even brands that don’t invest in influencer marketing can benefit.

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Pay attention to sustainability

As we step into 2021, we will continue to see conversations around the impact consumerism has on the environment.

According to a recent study by McKinsey, 67 percent of consumers consider the use of sustainable materials to be an important factor when they are making buying decisions.

Consumers are interested in sustainable practices and engage more closely with businesses that are socially responsible and transparent with their production and fulfillment processes.

For e-commerce businesses, this could mean incorporating organic, reusable, sustainable materials and methods into their supply chain. Be sure to let customers know the steps you are taking to reduce environmental harm.

Increasing interest in hybrid inventory models 

Many e-commerce brands are testing new supply chain solutions, such as on-demand manufacturing, in order to lower inventory costs, reduce waste, and streamline their operations.

On-demand manufacturing is a process that emerged about a decade ago but has gradually picked up steam in the past few years. Driven primarily by the explosive growth of e-commerce and shifting consumer needs, on-demand is poised to revolutionize the supply chain industry in the coming years.

The on-demand manufacturing market is expected to reach about $ 112 billion by 2024, growing at an astounding 19.8% annually, according to Marketwatch.

With on-demand manufacturing, products are made only when they are needed and in the quantities required. In contrast, traditional manufacturing requires large quantities of products to be made and then stored in facilities until they are ready for shipping.

On-demand is ideal for e-commerce stores because it eliminates the need for inventory, and also allows online entrepreneurs to quickly test consumer interest in new products or designs without taking much risk. Many existing brands (both e-commerce and offline) are using on-demand in combination with traditional manufacturing to expand their product lines or feature collaborations. For all entrepreneurs, on-demand allows them to outsource their supply chain so they can concentrate less on logistics and focus on what they do best—designing, marketing and selling.

The bottom line

Starting a business is no small task. While technology provides many opportunities for creating an e-commerce business, it has also become harder for new and small brands to compete.

Understanding the latest trends can help entrepreneurs find new markets or product ideas, as well as guide you to new methods that can give you a leg up on the competition.

From focusing on niche audiences to implementing product customization to setting proper customer expectations, these trends can help you create a thriving e-commerce business in 2021.

The post Starting an E-Commerce Business in 2021? Keep These 6 Key Trends in Mind appeared first on StartupNation.

StartupNation

Due diligence of code – crucial when building, buying or selling a business

Hi there

How do you handle the Due diligence of source-code/cloud-setup when buying/selling or building a business?

I found that a lot is skipping this step and later find out that they a left with a bad none scalable setup that will cost them thousands and thousands of dollars.

So how do you handle it?

Asking because I am thinking about building a little business dedicated to do Due diligence – please share your thoughts.

Thank you.

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Startups – Rapid Growth and Innovation is in Our Very Nature!