There is a bit of confusion about branding. Though the concept of brand and branding has been debated recently as a major study in marketing, they are almost as old as humanity itself. Due to the lack of common understanding of branding and its complexity, it results in different interpretation.
Did you know?
The word “brand” is originated from the word “brandr” which means “burn” that is used to mark live stock?
What is good branding?
Branding means more than just creating a logo and slogan. Kotler & Keller, (2015) defined branding as “Broadly, a product [brand] is anything that can be offered to a market to satisfy a want or need, including physical goods, services, experiences, events, persons, places, properties, organizations, information, and ideas”.
This means, that branding is every aspect of customer experience including your logo, website, the way you answer calls, etc. In addition, branding is the way in which your customer discerns you or your products.
Effective branding helps you to distinguish yourself and your products from your competitors and helps you to be recognized. It is a turbulent and competitive market; therefore, it is important to stand out of the crowd.
Let`s stop for a moment and think about yourself. If you look back at your last shopping, I am sure you will find that you got all your shopping done in a supermarket that you trust, didn`t you?
What I mean by this, by establishing a trusted brand, people will return to you. People like familiarity, and if they experienced high-quality service or product, they will most likely to return.
Also, by creating a strong and recognisable brand will generate referrals as people love to share their good experience with others. A consistent brand will help you to establish a long-lasting relationship with your customers, build credibility and loyalty. They will know exactly what to expect from you. A well-established brand will also add value to your organisation.
A good brand will not emerge overnight. It requires a systematic approach for planning and development. A good branding not only increases the value of the business, but it also provides inspiration and direction to the employees.
To be successful with branding, you must understand the needs and wants of your audience and their anticipations about your products. Your identity is the foundation of any marketing activities.
To put it differently, branding can serve you to attract talent to work for you and helps you with staff retention. Additionally, branding needs to clearly represent your vision and goals to enable employees to understand and their drive and motivation will reflect in their work.
Consequently, branding is not only a visual display or logo, it is an overall customer experience. It is all the attributes that makes you or your business to be you. It is important to approach brand development in a systematic manner. Many businesses including start-ups tend to forget the importance of branding, then face the negative impacts of poor brand development.