Why Branding Matters: The Importance of Branding and What It Is
Branding refers to a unique characteristic or collection of characteristics tied with your goods or services perception from final users. Branding is an ongoing process, a continuous dialog between consumers and your company to understand their hearts. Without a doubt, one of your organization’s most essential assets is your brand. Having a brand identity, making your company unique, encouraging customers to purchase from you, and promoting staff pride all come together to create your organization’s image.
Whether it’s a local business or a large multinational corporation, almost every business begins with a well-defined set of core values and a brand vision. But when it comes to executing that vision, a critical element missing is the correct brand identity. If your company’s identity fails to capture your customers’ attention, you’ll never be able to turn your company vision into reality. With the rise of e-commerce, consumers have learned to go directly to retailers to make their purchases. Those purchases, however, are made on the brand’s website or through a retailer’s sales representatives. Consumers are thus in control of the brand experience, in contrast to past shopping experiences, which were less consumer-centric and department-store driven.
What is a brand?
In today’s social and digital world, the brand is the identity of your company. Your logo, tagline, and visuals work together to define what your company stands for and how you deliver your promises to customers. Who creates a brand? Your organization, it is your organization that creates the right image to position yourself. According to A Little Tribe, a company based in South Africa, “Your brand is how you present your company to the world. It is your positioning statement.”
Your Brand Identity
To develop a corporate image, your marketing department must create a brand that appeals to your target market. Your organization will make what you may call your company’s “personality,” and every client who contacts you will speak with that image in mind. This positioning will attract and retain a consumer base and sell the services you offer. The Office Depot, for example, has the personality of “the office supply store.” Their core product is paper and ink for personal and business use. However, they also carry office furniture, gadgets, gizmos, office supplies, and much more. When you look at their brand image, you immediately see “the office supply store” in their logo and brochures.
Simple Steps to Create a Unique Brand
Your brand is how you portray and market your company to the world. It can enhance the value of your products and services by uniquely showcasing them. It may promote a unique quality or piece of your business to help customers recognize you. A well-crafted brand can help a business stand out from the crowd. By taking the time to understand your business, you can turn your image into a living entity, influencing and building a brand for your organization. Designing a brand that reflects your business’s mission is one of the best ways to ensure its success. The right branding can help your company appeal to your customers by addressing their needs, making them happy, and satisfying them financially. A brand can be a guide to guiding a company’s strategy.
What is a brand identity?
A brand identity is the outward visible branding you want to make. Let’s use the brand Persona as an example. The brand Persona of Persona is: I’m funny. I’m friendly. I make good coffee. I’m easy to deal with. And I know how to do everything. These are the logo, font, color palette, mascot, graphic design, tagline, and business cards in Persona. However, we also see each of these elements as unique, reflecting the personality and voice of the Persona. And that’s what makes them essential to brand identity. What can you do to add brand identity to your business?
How to create a strong brand identity
There are three distinct types of branding: visual identity, verbal identity, and emotional identity. The three are unified in increasing the perceived value of a company and creating a memorable experience for the consumer. “About 60% of the world’s GDP is directly or indirectly related to the design and production of consumer goods and services. With the consumer-facing side of marketing expected to reach $4.59 trillion by 2025, you must get right”. A strong brand is your company’s greatest asset. In today’s digital world, you cannot afford to let this asset deteriorate. In other words, a weak brand has the power to not only threaten your business but damage its reputation and overall value.
Hopefully, you have now seen just how branding is an integral part of your operations and how you can take your products or services to the next level. Every business can benefit from branding, and with the right image, your brand will succeed in developing relationships with your target market. Your branding and logo will affect how people perceive your company and products, so you want to have it as sharp as possible.