Branding | What is It & Why is It Important for Business

There is a lot of confusion around branding and exactly what it is. Decades ago branding was defined literally just as a name, slogan, sign, symbol or design, or a combination of these elements that distinguish one product or service from another.

The brand of a product or service differentiated it from the competition. Today’s brand is a bit more complex, and even more important in today’s world of marketing. It’s the perception that a consumer has when they hear or think of your company name, service, or product.

Branding

Branding is so crucial to any online success.No matter what industry or if your company provides a specific product, service, software, etc. branding will play a huge role in growing that specific business. Yet, you also do not need to spend tons of money on branding and many of the well-known companies themselves do not spend a lot.

Instead, they focus on a strategic brand management process that enhances their brand and makes sure they are highly visible in their markets. This also ensures your company has a better chance of being chosen during the purchasing decision. If you have bad branding, you have poor sales, poor client retention, and weak growth.

What is Branding?

By definition, Branding is a marketing practice in which a company creates a name, symbol or design that is easily identifiable as belonging to the company. This helps to identify a product and distinguish it from other products and services.

Branding is important because not only is it what makes a memorable impression on consumers but it allows your customers and clients to know what to expect from your company. It is a way of distinguishing yourself from the competitors and clarifying what it is you offer that makes you the better choice.

Branding for Beginners

Your brand is built to be a true representation of who you are as a business, and how you wish to be perceived. The best example is Nike’s swish which conveys a sense of speed and movement. Also the likes of Coca-Cola, jmexclusives and Safaricom PLC. These are distinctive brands in Kenya which you can never forget about that easily.

What is a Brand?

A brand is a product, service, or concept that is publicly distinguished from other products, services, or concepts so that it can be easily communicated and usually marketed. While a brand name is the name of the distinctive product, service, or concept.

Branding, on the other hand, is the process of creating and disseminating the brand name. Whereby, it can be applied to the entire corporate identity as well as to individual product and service names. Simply put, a brand is a way a company, organization, or individual is perceived by those who experience it.

It’s more than simply a name, term, design, or symbol, a brand is the recognizable feeling a product or business evokes. Brands, then, live in the minds of everyone who experiences them. May it be employees, investors, the media, and, perhaps most importantly, customers. In other words, brands are perceptions.

What is a Brand Name Protection? 

In simple terms, trademarks are legal protections that prevent others from reproducing or using identifying features of your brand. Such as your company name or logo – without your permission. This even extends to the use of names or logos that could be easily confused with yours.

All brand elements are trademarked as soon as they’re in use. Furthermore, if you design a logo and put it on your website, it’s technically illegal for someone else to copy it. However, it’s wise to formally register your trademarks. If you don’t, it can be more difficult to take action against anyone who tries to steal your branding.

Brand Meaning

Generally speaking, the consequences of choosing not to register a trademark for your company name or logo can be severe. Someone may imitate your brand to sell customers low-quality versions of your products.

In the event that the trademark examiners allow a trademark that is closely related to yours, you have the right to oppose it before it’s officially registered. Learn more about What is a Brand Trademarking?

Why is Branding important?

There are many areas that are used to develop a brand including advertising, customer service, promotional merchandise, reputation, and logo. All of these elements work together to create one unique and (hopefully) attention-grabbing professional profile.

Branding is absolutely critical to a business because of the overall impact it makes on your company. Not to mention, branding can change how people perceive your brand, it can drive new business and increase brand awareness.

Branding gets Recognition

The most important reason branding is important to a business is that it is how a company gets recognition and becomes known to the consumers.

The logo is the most important element of branding, especially where this factor is concerned, as it is essentially the face of the company. This is why professional logo design should be powerful and easily memorable, making an impression on a person at first glance. Printed promotional products are a way of getting this across.

Branding increases the Business value

Branding is important when trying to generate future business, and a strongly established brand can increase a business’s value by giving the company more leverage in the industry. This makes it a more appealing investment opportunity because of its firmly established place in the marketplace.

Branding generates New Customers

A good brand will have no trouble drumming up the referral business.

Strong branding generally means there is a positive impression of the company amongst consumers, and they are likely to do business with you because of the familiarity and assumed dependability of using a name they can trust.

Once a brand has been well-established, word of mouth will be the company’s best and most effective advertising technique.

Improves employee Pride & Satisfaction

When an employee works for a strongly branded company and truly stands behind the brand, they will be more satisfied with their job and have a higher degree of pride in the work that they do.

Working for a brand that is reputable and help in high regard amongst the public makes working for that company more enjoyable and fulfilling. Having a branded office, which can often help employees feel more satisfied and have a sense of belonging to the company, can be achieved by using promotional merchandise for your desktop.

Creates trust Within the Marketplace

A professional appearance and well-strategized branding will help the company build trust with consumers, potential clients, and customers. People are more likely to do business with a company that has a polished and professional portrayal.

Being properly branded gives the impression of being industry experts and makes the public feel as though they can trust your company, the products and services it offers and the way it handles its business.

Branding supports Advertising

Advertising is another component of branding, and advertising strategies will directly reflect the brand and its desired portrayal.

Advertising techniques such as the use of promotional products from trusted companies such as Outstanding Branding make it easy to create a cohesive and appealing advertising strategy that plays well into your branding goals.

What are the Elements of Branding?

Branding has been around since 350 A.D and is derived from the word “Brandr”, meaning “to burn” in Ancient Norse language. By the 1500s, it had come to mean the mark that ranchers burned on cattle to signify ownership—a precursor of the modern logo.

Yet branding today is so much more than just a look or a logo. It has come to signify the emotional “gut feeling” reaction a company can elicit from its customers. Your brand is the set of perceptions people have about your company. But branding is the set of actions you take to cultivate that brand.

These are the elements of branding that you’ll need to create in order to cultivate how your business is perceived by customers:

Mission statement and brand values

Your mission statement and brand values are the foundation for your branding. Think of your mission as the brains of the operation—a short and succinct statement that defines the present state and purpose of your organization. Meanwhile, your company’s vision is its heart, providing an inspirational and motivational snapshot of what you seek to achieve in the long term.

Brand guidelines

With the mission and vision statement set as the pillars of your organization, your brand strategy comes to encompass everything in between. This will take the form of brand guidelines (also known as your “brand bible”).

These guidelines are comprised of a tangible document that will reflect and support your business goals, differentiate you from competitors, resonate with customers, provide a template for decision-making and precipitate ideas for future marketing campaigns. It will also include all the stylistic elements of your branding, including your color palette, fonts, and an outline of your brand voice.

Logo

Your logo is the face of your company and designing your logo is arguably the single most important branding you’ll do for your business. During the design process, think about who you are as a brand and how you want to be perceived by your customers. Use that to drive your design strategy.

Website

Designing your website is also a key branding step. Your website is your brand’s digital real estate and when your customers visit, it should be visually engaging, easy to use, and most important of all a reflection of who you are as a brand. Similar to your logo, refer to your brand guide to choose your web design elements (like layout and fonts).

Additional assets

There’s no one-size-fits-all approach to branding. Depending on your business and industry, you might need additional assets like business cards, product packaging or event flyers. Assess your business and your unique needs, and then develop additional branding assets accordingly.

Types of Branding

Simply put, Branding is the process of developing a unique name and identity for a product or business. Branding ensures awareness and credibility for a brand, creates customer loyalty, among other advantages.  Building a brand takes time and involves a lot of resources.

For our purposes, when we say “brand management,” we mean providing an online catalog of the customers’ company-branded printed products that will be available for anyone who is authorized by the company to make a purchase.

A product, service, person or place that is branded automatically develops a personality as well as reputation. Businesses and individuals can as such take advantage of the various types of branding that are available.

Let’s take a quick look at a few types of branding that businesses and individuals can leverage on.

Product

This is the most common and easiest type on the list. Product branding is a symbol or design that identifies and differentiates a product from other products.

Product branding is very easily noticeable when you walk through a supermarket that has different products. Hence, most products have a unique color, design, and logo.

Personal

Very common among politicians, athletes, and celebrities. Personal branding makes it possible for famous people to reflect a good image of themselves to the public.

Politicians, for instance, use personal branding to create a good impression and convince voters that they are right for an office.

Corporate

Used by businesses interested in creating and maintaining a good reputation. Corporate branding thus cuts across an organization’s services, products, employees, corporate culture as well as corporate social responsibility.

Every activity that occurs in an organization has a positive or negative effect on its reputation. A wrong decision can, in fact, have an adverse effect on the corporate brand.

Geographical

This type of branding is used for specific services and products that are peculiar to a particular region. This mostly in the tourism industry. Various countries and regions try to brand things that make them different from other areas.

Retail

Mostly used by industry giants to increase the interest of consumers and make product sales outpace the competition.

A lot of money is spent to develop unique brand images that convince consumers to select their brand instead of others. Retail branding, however, requires a lot of planning. The right strategy needs to be adopted to ensure its success.

Co-Branding

Co-branding is a type that associates the brands of two or more companies with a specific product or service.

It can also be described as a marketing partnership between two or more brands such that the success of one brand rubs off on the other. Co-branding is effective in building the business, increasing awareness and breaking into new markets.

Besides the aforementioned, there are numerous types of branding that businesses can take advantage of. The most important thing is to ensure that your approach to branding suits your business objectives.

Why does every Company need Branding?

In today’s economy, when companies compare print prices online and the print technologies that are available almost for everybody, the type of service and convenience you provide your customers seems to have the biggest effect on their decision.

Especially when the time comes for them to choose their printed products supplier. This is where brand management plays an important role and helps you to keep your customers loyal to your services.

Success Strategy

To succeed in branding, you must understand the needs and wants of your customers and prospects. You can achieve this by integrating your brand strategies throughout your company at every point of public contact.

Think of branding as though your company or organization were a living, breathing person. Imagine this person explaining who they are, why they’re valuable, and what they specifically have to offer.

As consumers begin to identify with you, your brand will live in the hearts and minds of customers, clients, and prospects—and connect on an emotional level. According to Forbes, customers tend to associate themselves with a brand that is trustworthy and makes them feel appreciated.

Brand Research 

It’s important to spend time researching, defining, and building your brand. After all, your brand is the source of a promise to your consumer. If you’re billing yourself as the manufacturer of the longest-lasting light bulb, your brand has to live up to that.

In developing a strategic marketing plan, your brand serves as a guide to understanding the purpose of your key business objectives. It enables you to align a marketing plan with those objectives and fulfill the overarching strategy.

And remember, the effectiveness of a brand doesn’t just happen before the purchase—the brand experience has to last to create brand loyalty.

In other words, did the product or service perform as expected? Was the quality as good as promised or better? How was the experience of the service? If you can get positive answers to these three questions, you earn a loyal customer.

Brand Relation 

If you have bad branding, you have poor sales, poor client retention, and weak growth. Branding defines how your customers and the industry view you.

Hence, misguiding layers of press, media, word of mouth, publicity–all which make up your unique brand. If you want to stand out in the market this year. Focus on your brand more than ever. This definition makes it clear that a brand cannot exist without the product.

The basis for developing a brand rests with the key characteristics and attributes of the product. It’s absolutely important to have an alignment between the core competencies of your product with the branding strategy.

This acts as an ambassador for the product and unless true to the product, will not work. A great product with the wrong branding strategy is less likely to be as successful as a good product with an on-point and on-message branding.

Brand Strategy

It’s also very important to ensure that the product is catering to the targeted market’s needs and brand your product based on the targeted demographic.

If your product does not solve the market’s needs or if your branding fails to identify the audience for the product, you have a failed product in your hands. The efficiency of your brand strategy correlates with the number of customers that will pick you over your competitors.

Two companies could offer the exact product or service, but the one with a well-thought-out and strategic branding plan will attract more customers.

It’s important to spend time researching, defining, and building your brand. After all, your brand is the source of a promise to your consumer. If you’re billing yourself as the manufacturer of the longest-lasting light bulb, your brand has to live up to that.

Summing Up,

According to Forbes, customers tend to associate themselves with a brand that is trustworthy and makes them feel appreciated.

For instance, travelers are more likely to fly with an airline with a flight crew. Especially, that makes its passengers feel valued and safe than the one who serves the best peanuts and pretzels. It is not just the message, product or service that interests the customer but most importantly, the delivery.

Therefore, at jmexclusives, you are welcome to engage and tell how you would want a partnership. Particularly in improving your brand capacity and reputation on all digital scales. It is never an easy job but when we come together great things do happen. We are here to make your product and services start selling by just adjusting the branding techniques.

Resources;

I hope you’ve enjoyed reading and have understood some of the main benefits of trademarking your business.

Also, please don’t forget to have a look at the benefits of online digital marketing & even the best lead marketing generation tactics. But, if you’ll have additional contributions, suggestions or even questions, please feel free to Contact Us.

And by the same token, share your thoughts and insights in the comments box below this blog article.

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