Branding: what is it and why do you need it?

The term brand is so openly and easily used these days that often people are unsure of what it is. What makeup do you wear often? You won't answer by saying foundation, eyeliner and lipstick, no you will say, Fenty, Estée Lauder and MAC. This is why branding is so important that you will simply recognise the name of the company and everyone will know. More often than none we buy based on the brand more than anything else.

What is a brand? 

A brand is a name, term, design, logo, or other feature that distinguishes a company or product from its rivals in the eyes of the customer.  Branding is the process of creating and building awareness around the brand and extend customer loyalty and equity. All of this reflects on the quality of the product or service.

The brand is an extension of the product or service, as much as the product or service is an extension of the brand. For example, I am using a MacBook (an Apple product branding) instead I should be saying that I am using a laptop which is what a MacBook is.

There are several different types of branding: 

• Co-branding: working with another company to reach more customers 

• Personal Branding: the way an individual builds a reputation 

• Digital Brand: web, social media, driving commerce on the web

• Cause Branding: aligning your brand with a charitable cause

• Country Branding:  efforts to make the country look more attractive.  

Branding is about distinguishing yourself from the competition from the onset from your logo, style, colour design, tone of voice and so much more. This is the reason why companies such as Coca-Cola and Cadbury have patented the colours that they use so that no one else can use them and that they are recognised every time they are placed in front of their customers but also to tell them why they should choose you and not the alternative.  

Why do you need branding?

As competition created infinite choices in the marketplace, a brand needs to be seen as irreplaceable and create a lifelong relationship. In an economy and current business climate where often people are driven by price, branding is actually even more important. You need to create a brand so unique to you that no matter what your customer will always choose you over the competition.  People fall in love with brands, trust them and believe in their superiority, and regardless of what industry you are in, your business needs branding, as it offers customers 3 things:

Navigation: people are inundated with messages every day, the correct brand helps your customers choose you in the marketplace filled with different brands.

Reassurance: Brands communicate to the customers in an intrinsic was that they have made the right choice. If your brands is well-known customers are more likely to trust you and feel that you are the right choice for them.

Engagement: this is a distinctive emotional or rational bond between the customer and the brand, they can identify with what the brand stands for and believe that the brand really connects with their needs. 

Knowing how and where to position your brand from the beginning is very important. It will help you know what to say, who to say it to and also how much you can charge them for a product. Things will change and vary, for example, you may change your logo over the years and your customers will grow with you as your brand develops. Of course, you will lose and gain a few customers along the way but keeping your core base is what is most important and to do that you need a strong branding standpoint.

The overall impression that your brand should give is the message that you set from the onset. How a brand is perceived always affects its success.

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