Across industries today, consumers are no longer buying products just because of price or ease of delivery. They are choosing their favourite products based on the reputation of the companies that make them. Brands are no longer just logos or catchy slogans; they represent promises, values, and experiences. Whether it’s a small business in Yaba, Lagos or a huge tech giant in Silicon Valley, companies now know a strong brand is a key ingredient to success.
Today’s shoppers want more from their transactions. They want to connect with the companies they buy from. It’s not enough to be available; a business must be reliable, trustworthy, and purposeful. At a time when consumers have many choices, companies need to find a way to make sure their products and services connect emotionally with people.
This is true not just in Africa but all over the world. Businesses are now focusing more on their branding to win loyalty and market share. Whether you are a real estate company offering flexible payments or a fintech startup making cross-border payments cheaper and faster, strong branding makes you visible and desirable in a busy market.
Creating a strong and valuable brand is not an easy task. It must be a brand that can stay strong through changing trends and technology. Successful companies have shown that strong branding helps them outperform their competitors, attract the best employees, and even raise prices without losing their customers. After COVID-19, many companies that were well-branded recovered faster because their customers remained loyal.
Branding is especially important in Africa’s growing businesses. According to the Cambridge Dictionary, branding is the process of improving a brand or a customer’s view of it. Brands are a powerful asset; their reputation often lives much longer than the people who started them. Brands like Coca-Cola, Shell, and Nestlé didn’t become large overnight; it was a result of years of hard work and staying true to their promises.
Amazon Ads highlights the role of loyalty in strengthening a business. Customer loyalty comes from transactions — prices, promotions — but true loyalty comes from emotions. It depends on how people feel about a brand. Surveys show 62 per cent stay loyal because of price, while 57 per cent stay because of service, and 54 per cent stay because of products. So loyalty isn’t just about cheaper prices; it’s about relationships and satisfaction.
So, how can companies in a place like Yaba or even a big city like New York grow their brands?
The first step is to define their purpose and values. Why do they exist, aside from making profits? Successful companies connect their products to a bigger mission — whether it’s improving education, protecting the environment, or strengthening communities.
