Products are never just products, right?
Coca-Cola is more than a soda. Starbucks is more than a coffee. Ray-Ban is more than a pair of sunglasses. Glossier is more than a tube of concealer.
Interacting with these products provide experiences, and we buy them with that experience in mind. Better yet, the companies that create and market them know exactly the experience they want you to have when you make (or consider) a purchase. That’s why they create a brand.
From the language in their Instagram caption to the color palette on their latest billboard to the material used in their packaging, companies who create strong brands know that their brand needs to live everywhere. They know their names extend far beyond the label.
The result? These brands are known, loved, and chosen out of a long lineup of options.
Who doesn’t want that? I know I do. That’s why we built this guide — to equip you to create and manage a strong brand that’ll help your business be admired, remembered, and preferred.
What Is Branding?
The term brand refers to a business and marketing concept that helps people identify a particular company, product, or individual. Brands are intangible, which means you can't touch or see them. As such, they help shape people's perceptions of companies, their products, or individuals. Brands commonly use identifying markers to help create brand identities within the marketplace. They provide enormous value to the company or individual, giving them a competitive edge over others in the same industry. As such, many entities seek legal protection for their brands by obtaining trademarks. And this whole process is known as branding.
Importance Of Branding-
Your brand is arguably one of your organization’s most important assets. It gives your organization an identity, makes your business memorable, encourages consumers to buy from you, supports your marketing and advertising, and brings your employees pride. Some of the most important features of branding are-
1- Create Consumer Preference For The Product Or Service Behind The Brand
A wide variety of products leads to confusion. One way purchasers manage these issues is by leaning towards brands they know and trust. Genuine and widely known brands are viewed as less risky to buy from. Hence, customers believe that the products from brands that are intensively marketed would always perform better. And it is true as the results reflect that. The more you give importance to Branding, it helps in the longer run.
2- Generates Increased Revenues And Market Share
When a firm does extensive marketing or branding, its revenues and market share increase. This means that the firm can become stronger than it was before. It can use its power to enter new geographical markets, do co-branding and gain new distribution opportunities. Branded firms are well looked up to. Branding gives you wings to experiment with different sectors of the market.
3- Keeps New Competition Away
A market segment that is targeted by popular brands is a huge hurdle for most new competitors. If you are the first one to create and target a segment, you will gain tremendous benefits. Gaining a first movers advantage is a big deal. This helps in making a place in the consumer’s minds and staying that way.
Branding Terms To Know
1- Brand Ambassador
The face or spokesperson of a brand. The brand ambassador, which historically took the form of a CEO, celebrity endorser or, other paid affiliate, represents the essence of a brand and is a controlled effort to humanize brand messaging, mission, and outreach. More recently, employees, loyal customers, and anyone passionate about the brand have assumed the title. The ambassador eats, breathes, and lives the brand, providing customers with a tangible and influential brand experience while serving as the campaigner, defender, and avatar of the brand.
2- Brand Awareness
The ability of a brand’s customers to identify the brand in a crowded market, and their level of familiarity with the brand’s unique buying proposition. Greater brand awareness is often a primary goal of marketing a product or service and is critical when launching a new brand. Brand awareness coupled with brand preference creates an opportunity for premium pricing.
3- Brand Identity
The outward expression of a brand as it is seen and heard in the market—specifically the distinguishing verbal and visual elements and messages that appeal to the customer. These include the brand name, logo, tagline, tone, and typography. Brand identity reinforces the brand’s position relative to the competition and articulates the intended brand message.
4- Brand Positioning
The distinctive space that a brand occupies in its competitive environment ensures that individuals can recognize and elect the brand over others. Brand positioning involves the careful manipulation of all marketing elements to claim the brand’s desired market position and establish its unique impression in the customer’s mind.
How To Create A Brand
Building your brand tangentially boils down to 7 steps:
1- Research your target audience and your competitors.
2- Pick your focus and personality.
3- Choose your business name.
4- Write your slogan.
5- Choose the look of your brand (colors and font).
6- Design your logo.
7- Apply your branding across your business and evolve it as you grow.
While you might revisit some steps as you pivot your brand, you must consider each aspect as you shape your brand identity.
Hope this article was helpful. If you are searching for the best agency for Branding, do contact Social Croww. Want to learn more? Connect-with-us. We will be happy to answer your queries.
We offer all kinds of branding services that will give your brand the image it deserves. Send your questions and requirements to us and we will be happy to help!