Why Your Company Needs Branding and 5 Misonceptions
Branding is an important aspect of any business, large or small, B2C or B2B. What exactly does “branding” mean? According to businessdictionary.com, branding is defined as the process involved in creating a unique name and image for a product in the consumer’s mind, mainly through advertising campaigns with a consistent theme. Branding aims to establish a significant and differentiated presence in the market that attracts and retains loyal customers.
"Your brand is your promise to your customer. It tells them what they can expect from your products and services, and it differentiates your offering from that of your competitors. Your brand is derived from who you are, who you want to be and who people perceive you to be." - Entrepreneur.com
A brand is what makes you, you. In simpler terms, it’s what people think of when they hear a name. It is the complete image of a company.
So, why does branding matter?
Branding can help increase sales while expanding the uniqueness of your services or products. As a business owner, you want customers – both returning and potential – to understand what is unique about you and your company. It tells your story.
A good brand delivers its message clearly, verifies the credibility of the message, motivates the buyer, emphasizes loyalty and connects to its audience emotionally.
For example, Walmart’s brand is about saving money (Save Money, Live Better); Nike’s brand motivates you to Just Do It; Mazda’s brand is about having fun while driving (Zoom Zoom). Why do we say ‘Google it’ or ask for a ‘Kleenex?’ You could very well be using Bing or Yahoo as a search engine or find yourself grabbing a tissue from Puffs.
Misconceptions About Branding
Branding is just a logo
You need a budget to have a successful brand
The public relations or marketing team takes care of a company’s brand
Branding is only for large companies
Every business has a brand
Your brand must speak clearly to its audience about the nature of the service or product. If you need branding inspiration, check out some of our work to get ideas!
