This is such an important question, but firstly we need to understand what branding is.
What is branding?
We often think of branding as a business logo – which is partly correct and is of course, a very important part of a company’s branding, however, branding encompasses a lot more than just the logo.
The American Marketing Association defines a brand as ‘A name, term, design, symbol, or any other feature that identifies one seller’s good or service as distinct from those of other sellers. The legal term for brand is trademark’.
This definition is a great way to sum it up. Here’s another way to explain it. Branding is a unique way to identify a business, its personality, positioning and how it differentiates itself from its competitors. It’s reflective of who the business is and how it wishes to be perceived amongst its target audience whilst remaining authentic and true to its offering. The brand is reflected by how the business portrays itself through design and communication, the way it operates and how it conducts its business. It’s basically everything, from the logo, promotional material, products and services through to customer service, sponsorship and leadership. Brand encompasses the whole of the business.
Why is branding so important to your business?
Branding is important as it helps customers to identify your business and what you are offering them, both in terms of services/products and expectations (for example, are you offering cheap or high quality products? Are they great value or luxury high cost items? How do they compare with your competitors?).
Branding is integral to everything you do – it helps drive enquiries and sales to your business. It’s helpful in establishing customer loyalty and referral to your business – it sets you apart from all your competitors.
What makes a good brand?
A strong brand is developed over a period of time where authenticity, credibility, brand promise delivery (doing what you say you will do), consistency and audience reach are met and aligned with business objectives, missions and values.
How do you create a great brand?
After having read the points above, this is why you need a good long-term brand strategy. Initially you need to research key areas that inform your brand strategy including:
You’ll then need to take in to account the insights from your research and integrate them into the development of your brand.
If you’ve got this – good luck! Otherwise, if you would like some help to create your brand or update what your current brand, ask us at AMG!