The Importance of Branding and Identity

When you hear the word “branding” it brings to mind a mental image of a rancher searing his mark into his cattle’s hide. Well, product branding is not quite that painful, but it follows along the same principle. You want to “burn” into the consumer’s mind the image of your brand.

Some examples of recognizable brands include the red, white and blue “smiling” Pepsi logo, the infamous Nike “swish”, the elegant L-oval of Lexus and the golden arches of McDonalds. These icons represent established and emblazoned images in our minds.

So what’s the difference between a logo and a brand? Some may call the aforementioned examples-logos while others would refer to them as corporate brands. So what’s the difference? Logos are an image or symbol that represents a person, place or thing and is used as an identifier of a product or service in most cases. It can be equated to an individual’s “signature.”

Brands, on the other hand, would be like an individual’s “character” – it’s who you are, what you are about and what you value. A company’s brand is really no different, it is literally the personality of the company, it manifests the personality of the owner, board of directors, shareholders or even the corporate culture.

Branding takes time, it’s not something easily obtained overnight. Even the advertising Gods are unable to make that happen. And it takes repeated exposure to obtain success. Logos, the visual symbol of the brand, immediately bring an awareness of what the product or service has to offer and what reputation the company may have.

A definition of what branding might be in the context of marketing may sound like: “Branding is a long and persistent attempt to convey an idea, concept or emotion in someone’s mind.” Or put another way “Brand identity should help establish a relationship between the brand and the customer by generating a value, a function, an emotion or a form of self-expression.”

There has been a multitude of studies performed over the last couple of decades to evaluate brand awareness and brand exposure.

Depending on which study you refer to, the average person is exposed to consumer brands and commercial messages anywhere from 300 to 5000 times daily, depending on individual habits. Just think of your drive to work this morning, how many billboards did you pass? What about commercial vehicles with signs? What about the businesses you past and their signage?

Branding is important because the stronger the brand is the easier the communication becomes. It’s like a snowball going down hill… it gets bigger as it rolls and gains more momentum.

It’s the constant repetition of an idea, product or service, which eventually leads to the customer identifying with your brand by way of association. Kleenex after all is a brand, yet we use it as a generic term! Google is another example; you don’t search for things on the web, you “Google” them.

So how does this relate to your company’s brand? Well, as you can see, it’s more than just a pretty cool looking logo; it’s getting your brand out there and communicating effectively and consistently. The main purpose of a strategic marketing plan for your brand is to build name recognition and positive opinions about your product or service so that your target audience will think of your company when they have need of your services. It’s all about how your brand is perceived. If your product or service is perceived negatively, your brand is in jeopardy of losing ground with your customers and future customers. On the other hand, if your brand is perceived positively… business success is likely to follow. Your brand should convey a sense of value and provide an emotional experience to the audience you wish to reach.

Let’s take a look at a few examples of perception. Wal-Mart is perceived as a low-cost leader and value retail store while the Macy’s “star” projects a more upscale image and higher priced, quality merchandise. The Lexus LS sedan is perceived as a luxury vehicle while the Ford Taurus is considered to be lower in cost and quality. Each of these examples appeals to the desires of target demographics.

These examples illustrate how brands can target select groups of people and communicate their messages effectively. Each are perceived differently and each transmits a different emotion.

So how does one go about creating a strong brand that becomes a household name? One word… consistency. A lot of companies use tricks, games and gimmicks. And that’s fine. Engaging and entertaining your customers is great, however, only if it serves the goal of increasing brand awareness and ultimately making a sale.

In closing, think about your company’s brand and answer a few questions… how do you believe your brand is perceived by your customers? Does your target audience recognize it? If not, what changes should you be making to assure that they do?

Whether it’s from the ground up or your brand is already established, branding your product or service is important. It takes persistence, consistency and a lot of patience.

Importance of Branding: Top 10 Reasons to Build a Brand

The importance of branding can be understood from the simple fact that a business is said to be successful only when it earns identification among the customers. People know and prefer a business through business branding that encompasses components like business logo, name and byline. Each of the following reasons should make a business owner believe in the benefits of branding.

1. To Get Recognized
An unknown or unrecognized business has no place in the market. So, the first step is to earn recognition among the potential customers. Building a brand for the business informs people about the existence of a business.

2. To Get Preferred
The importance of branding becomes apparent when the customers start choosing your brand over others in the market. Getting preferred over the rival brands is a parameter of success for a business.

3. To Earn Loyalty
Another advantage of branding is that it converts one time customer to a repeated customer. As the customers gets familiar to your brand, they become loyal to your business.

4. To Get Differentiated
You got to have a number of competitors in the market and you need to stand apart form them. Again the importance of branding can be recognized as it helps you to convey how different you are from others.

5. To Get Remembered
Whenever a customer goes for shopping, he or she tries to remember the popular brands for each product. If you have already made an impact by branding your products, you are going to be remembered by the customer while purchasing.

6. To Get Recommended
You can also understand the importance of branding in getting recommended by your existing customers to the new ones. While recommending your business, the customers will use your brand name or your business tag line.

7. To Lower Future Marketing Expenses
Once your business brand is established, you can lower down the marketing expenses in the future. People will already have the good reasons to keep on buying your product in long run. This is one of the most practical needs of branding.

8. To Build Business Equity
Once you make people habitual of preferring your brand, it helps to build your business equity. This provides you the freedom of charging for your business products at your own will and earning more profit. Thus, the importance of branding is revived yet again.

9. To Earn Recognition for Multiple Products
Brand name for one category of products can benefit other products launched by a business in the future. Customers, who are already impressed by the brand name of your business, will definitely like to try your new business products. So, the importance of branding is that it can be extended to future business expansion.

10. To Create Emotion
Finally, through branding, one can earn emotional attachment of the customers towards the products you sell. Top brands like Nike have been doing it since ages. These brands have understood the importance of branding to build a personal relationship with targeted customers.

The benefits of banding are impressive enough to drive your investment in it. Business development consultants can help you in employing the effective business branding techniques. You need to rely upon a set of experts to get most out of the importance of branding you learnt here.

The Importance Of Branding For Your Business: 6 Top Benefits of Branding

What is the importance of branding your business? In short branding helps a business create an identity among it’s customers. People come to know and like a business often on first impressions. Having a consistent branded image through company logo, name and signage etc helps build an image of trust and professionalism when done correctly.

The Main Benefits of Branding are;

1. It Creates Emotion

Branding helps to engage your customers on an emotional level for the products you sell. Brands such as Nike and Disney have been capitalizing on branding for decades and it has been essential to building a relationship with their customers.

2. It Helps You Launch Further Products or Services

Building a Brand name for one group of products will benefit other products you launch later on.Your customer will recognize your company and be more likely to try the new products as they already know who you are. The importance of branding is that it helps to prolong and compliment your current and future business growth.

3. It Helps your Bottom Line

Effective branding builds repeat customers through trust and recognition which in turn improves your business sales revenue. A great example of this is Tiffany’s: their little blue box branding creates want and need (and headaches for husbands everywhere). They can price accordingly because no matter what customers will still buy it due to the brand.

4. It Reduces Future Marketing Costs

When your brand is recognizable your marketing costs may be reduced with repeat customers. Ongoing marketing campaigns may not need to be as intense or as expensive when launching a new product or service.

5. Create Top of Mind Awareness

Anytime a person goes shopping, they try to recall the popular brands for the products or services they need. Good branding creates an impression that will stay with your customer when they are making a purchase. People tend to stick to the brands they know, love and trust.

6. It Separates You From Your Competition

You probably have several rivals in your market and so you need to stand out from them. Once again the importance of branding can be acknowledged as helping you to express how and why you are different from your competitors.

The importance of branding becomes apparent when customers start picking your brand over others in the market. Your brand should build trust, earn respect and become your customers “go to’ product. Obtaining favor over the competing brands is a characteristic of success for any business.

The importance of branding and how it affects your business is remarkable enough to consider investing time and money in. You will be able to find many business consultants work in this area and will help you to implement business branding methods to ensure your success.