What is branding?

Branding is an essential part of owning and operating a business, and it can truly make or break your business and marketing strategy. Branding, in essence, is a marketing strategy in which a company creates something, whether it be a symbol, design, or product, that is unique to the company and easily identifiable. Branding helps a company grab, and keep, a customer’s attention and their business.

The importance of branding cannot be emphasized enough. It is a way to demonstrate to consumers what a company stands for, and what they can expect if they purchase the company’s product. Branding can make a lasting impression on a customer, and this impression can be positive or negative, so it must be taken seriously.

There are many aspects to branding, including reputation, company logo, customer service, and so on. It is not all physical objects that play part in a company’s brand. To find out more specifics about branding and why it is so important to your business, keep reading.

THE BASICS OF BRANDING

Branding is the way a customer perceives a company. It is the way the company portrays itself and how the customer interprets that portrayal. It is so much more than a logo or a general “look” of a company. There are many aspects to consider when working on your company’s brand, including customer service, social media portrayal, your logo, as well as your products and services.

With all this in mind, it is easy to get overwhelmed with everything that you have to be considering when building your brand. Luckily, countless resources exist to help you build a brand that will help your business in the long run tremendously.

WHY IS BRANDING IMPORTANT

Branding is essential to building a business that grows and provides excellent goods and services to customers. It is vitally important to the success of any company, large or small. Having a consistent and positive brand builds customers’ confidence and trust exponentially, and it is something every good business should be doing.

There are countless reasons why branding is important but a few of the biggest benefits are outlined below:

1. Branding represents a company’s standards, and it gives your company value. A consistent brand tells customers what to expect and it helps them gain trust and confidence in a company. As a business owner, your brand resents you, and your standards must come across to the customer.
2. Branding sets a company apart. With the hundreds of thousands of small and large businesses that exist in the world today, standing out from the crowd is essential to having a successful business. No matter how unique your product or service might be, there is likely someone else doing something similar. Branding is what helps set companies apart.
3. Branding provides direction and motivation for employees. If you are lucky enough that your business is large enough that it requires you to hire employees, branding becomes even more essential as you train and teach these employees about the things you stand for, and the things that are important to you. A solid brand will tell employees how to act, how to serve customers, and how to meet the goals of the company.
4. It helps a company get referrals. As a consumer, you have probably told your friends and family about companies and businesses that you enjoy supporting. A strong branding strategy will help a company be more memorable and pleasing to customers, which will then generate more referrals for future customers.
5. It helps a company stay focused on their goals. Having a solid brand is essential to accomplishing goals. Without goals and standards to meet, it is easy to lose sight of what your business needs and wants. A brand helps narrow down the things that are important to business owners as well as customers. A brand can help with creating marketing strategies and will help guide you along the way.

WHAT ARE THE ELEMENTS OF BRANDING?

As previously stated, there are many elements to consider when cultivating a company’s brand. It is more than just a logo, although that is definitely important. Some of the most vital aspects of branding are outlined below.

1. Mission statements. A solid mission statement gives a company direction and it tells customers what that direction is. It is a simple statement that defines the purpose of your company. It does not have to be complicated, but it should be clear, and it should provide motivation and inspiration to employees and customers alike.
2. Logo. A logo is quite possibly the most important part of branding, but it is not the only part. A good logo is simple and memorable, and it is easily recognizable. Some of the largest companies in the world have the most simple logos. Think about Apple, McDonald’s, and Nike. These companies all have very simple logos, but they are instantly recognized all around the world.
3. Website and social media. In today’s day and age, having a social media presence and an excellent website is essential to a business’ success. It should be easy to use, streamlined, and reflect your overall brand well. A website that is not user friendly will certainly deter people from doing business with you, and that is the last thing you want.
4. Other assets. Different companies and industries will have different needs, so make sure to do your research as you create your branding strategy. Assets you may need to consider are business cards, product packaging, advertisements, and so on. Each of these elements should work to enhance your brand and your company.

Branding a company can be a lot of work, but its benefits largely outweigh the risks and hassles of going through the process. Branding is the best way to make your company memorable, and having a memorable company will bring you more business and overall success. Now that you have a deeper understanding of what branding is, get to work on creating your strategy, and watch your business grow.