Whether a mom and pop store, franchise location or large corporation, strong branding is essential in today’s marketplace.
So, what exactly is branding? Branding is a collection of elements, such as logo, jingle, color scheme and name, that work together to differentiate a business in the marketplace. It’s a comprehensive process to make the organization, its values and its promise easily identifiable. Businesses of all shapes and sizes are utilizing branding to increase recognition, create trust and engage customers.
By design, branding invites recognition. Whether logo, slogan or font, if done correctly customers will associate branded elements with the company’s promise. Something as simple as color can improve brand recognition by up to 80%. Another name for this association is brand equity which, according to Entrepreneur, “means the added value brought to your company’s products or services that allows you to charge more for your brand than what identical, unbranded products command.” Brand equity is the reason name brand products cost so much more than their generic counterparts.
Branding also leads to an increase in customer count. As the brand promise is internalized by more and more consumers, companies are eventually regarded as trusted in the marketplace. Repeat customers and word of mouth become more common. The community that comes with brand recognition is essential, as consumers are 84% more likely to trust a friend’s recommendation over an advertisement.
Established brands can also experiment more with innovation. Although its own company, Motto Franchising, LLC is the second member of the RE/MAX Holdings, Inc. family of brands. According to Motto Franchising, LLC president, Ward Morrison, “We were able to harness 45 years of franchising knowledge and get to market quicker with a unique business model. However, we are a separate company charting our own unprecedented path.”
A startup backed by a publicly-traded company, the “Motto Mortgage” brand name is a nod to former CEO of Motto Franchising, LLC, and RE/MAX co-founder Dave Liniger, who is well-known for his inspiring entrepreneurial mottos. That entrepreneurial spirit inspired the Motto Mortgage vision and culture.
A vision that now speaks for itself. Motto Mortgage was established in October 2016 and sold 50 franchises in its inaugural year in business, and sold the 100th Motto Mortgage franchise, just 23 months after its launch. With over 100 franchises sold and nearly 80 offices open in 30 states, Motto Mortgage is one of the fastest-growing franchise brands in 2019 according to Entrepreneur magazine.
Contact us to learn more about the Motto Mortgage brand and about loan originator opportunities near you.