In today’s hyper-competitive market, every business faces the same daunting question: how do we stand out? The answer whispers from every successful company, every iconic logo, every customer’s loyal devotion – it lies in the power of branding. But what exactly is branding, and why is it the secret weapon businesses desperately need? Buckle up, because we’re about to delve into the heart of this transformative concept, unpacking its secrets and revealing how to wield it for your own success.
What is Branding? Unlocking the Secret Weapon of Your Business
Most would say it’s the logo, or the look of a company. If only it was that simple. A brand is more than a company’s visual representation, such as the logo, colors and typography. In short, a brand is a representation of a company’s values through personality and visual elements. The company’s values affect the company’s personality, which is then communicated with elements such as the logo, typography, tagline, colors, shapes, textures, company culture, internal communication, and marketing practices.
In a lot of ways you can relate a company’s brand to your personality. Your values affect your behavior and actions that make up your personality. Your personality is reflected in the way you dress, and the way you visually represent yourself.
Branding vs. Marketing: The Subtle Dance:
Branding and marketing, though often used interchangeably, are distinct yet inextricably linked. Marketing is the voice, the loudspeaker that amplifies your brand’s message. Branding, on the other hand, is the very message itself, the essence of who you are and what you stand for. Think of it as the foundation upon which your marketing campaigns are built. A robust brand provides a clear, consistent message, ensuring your marketing efforts resonate deeply with your target audience.
Just like Mike, a well branded company should be easy to understand. When a company closely follows a well defined brand it helps their customers understand and build relationships with the brand – just like Mike and his friends. Unfortunately, building a company brand is much more complex and delicate than being yourself. A company is a collection of many people with individual personalities. And these people are representing the brand throughout the many touchpoints a company may have with their customers.
To build a strong company brand, everyone involved needs to understand the brand and participate in representing the brand. Because of this, not only is a brand an external communication of a company’s values, but also an internal communication of these same values.
The benefits of building a strong brand for your company
Having a strong brand is so valuable, that it directly adds to a company’s valuation, through the intangible asset known as Brand Equity. For example, in 2019 the brand equity of Coca-Cola was estimated to be 81 billion, representing ~40% of the company’s market value. However, what we are concerned about in this post, is the ingredients that create brand equity; brand loyalty, brand awareness and brand associations.
Here’s a few ways that positive branding directly creates value for any business:
Brand Loyalty
Reduced long term marketing costs: Generally, it’s cheaper to keep a customer, than creating a new one.
Market leverage: For example, if brand loyalists frequently request your product in store, this creates negotiation leverage with retailers. This could lead to reduced costs of shelf space.
Free brand ambassadors: With solid branding and a great product it’s possible to build core brand loyalists. These loyalists will live and breath the brand, and push the brand forward. This is how many clothing brands rose to fame and fortune.
Brand Awareness
Lowered acquisition costs of a new product line: When a customer believes and trusts a brand, they are more likely to associate those same feelings with all products under that brand. This eases customers into making new purchasing decisions. This lowers the financial cost per new acquisition.
Take Amazon for example. Amazon has positioned their brand to be customer centric, offering their famous A-to-Z guarantee. This guarantee has been a pillar of their brand strategy since the beginning. Building trust as an association to the Amazon brand is why customers can comfortably purchase virtually any product through their platform.
Differentiation in a saturated market: branding is a good way to differentiate yourself amongst the crowd in a saturated market. For example, during a branding strategy workshop with one of our previous clients we discovered that all competing products and companies used very similar names, and the same packaging layouts and red color schemes. Through research we found that customers have no expectation for that packaging design; companies were copying each other because they saw the design work for the market leader. We strategically rebranded and designed the packaging, and took advantage of the opportunity to stand out.
Build credibility for small companies: Ever find an online store with a product you wanted to buy, but something felt off? Questioned the authenticity of an online store? Branding helps build credibility and authority and put new customers at ease.
Increase perceived quality: Similar to above, having a well developed brand helps potential customers trust and believe in the quality of your service or products. By using the right branding, you can increase the perceived quality of a product. This in turn, allows you to increase prices.
As you can see, there are a ton of benefits to having a strategically developed and cohesive brand. Any company can benefit from a solid brand strategy, whether it’s a billion dollar corporation, or a small mom and pop. However, building a brand is not a simple task. Along with developing a well thought out brand positioning strategy, a company needs to communicate the brand internally and externally. Additionally, it’s important to consistently invest into the brand, and slowly change the brand to stay with the times.
Differentiation: In a sea of sameness, a distinct brand sets you apart. It positions you as a unique entity with a compelling story to tell, differentiating you from competitors who might offer similar products or services. This allows you to command premium prices, attract specific customer segments, and carve out a niche for sustainable growth.
Employee Engagement: A strong brand isn’t just for external audiences; it’s a powerful internal motivator as well. When employees believe in your brand’s values and mission, they become passionate advocates, driving innovation and dedication within your organization. This translates into a more engaged workforce, higher productivity, and a vibrant company culture.
Some Branding Strategy Guides
1.Determine Your Target Audience
Understanding your audience is critical. Tailor your branding to resonate with your intended demographic.
2.Establish Your Mission Statement
Your mission statement should reflect the core values and purpose of your business.
3.Define Your Values, Features, and Benefits
What sets your product or service apart? Highlight these aspects in your branding.
4.Create Your Visual Assets
This includes logos, color schemes, and design elements that become synonymous with your brand.
5.Find Your Brand Voice
This is the consistent tone and style of your communications, aligning with your brand personality.
6.Market Your Brand
Implement your branding across your marketing strategies to ensure a unified and cohesive message.
How to Brand Your Business by Channel
1.Website
Your website is your digital headquarters, the first impression that sets the tone for everything else. Ensure it reflects your brand through:
Consistent Visual Identity: Use the same logo, colors, fonts, and imagery across all website pages. Maintain a clean and user-friendly layout, mirroring the aesthetics established in your visual branding.
Compelling Messaging: Craft content that aligns with your brand voice and values. Informative product descriptions, engaging blog posts, and customer testimonials should all echo your brand narrative.
Seamless User Experience: Navigate with intuitive menus, ensure mobile-friendliness, and prioritize clarity and ease of use. Every interaction on your website should be frictionless and aligned with your brand’s commitment to customer satisfaction.
2.Packaging
Elevate your product packaging from mere container to brand ambassador. Consider:
Packaging Design: Align the packaging style with your overall brand aesthetic. Use colors, fonts, and imagery that resonate with your audience and tell your brand story.
Sustainable Practices: If your brand champions sustainability, consider eco-friendly packaging materials and emphasize this commitment on the packaging itself.
Unique Touches: Include small details that surprise and delight customers, like personalized messages, QR codes directing to exclusive content, or reusable features.
Disclosure: For a website that truly embodies your brand identity, consider partnering with Align, a web design and programming agency specializing in crafting websites that seamlessly align with your brand’s vision and values.
3.Social Media
Engage your audience and build community through social media platforms. Remember:
Content Strategy: Post engaging content that aligns with your brand voice and target audience. Share industry insights, customer testimonials, and behind-the-scenes glimpses to humanize your brand.
Interactive Experience: Respond to comments and messages promptly, host polls and contests, and encourage user-generated content. Foster a two-way conversation that builds brand loyalty.
Platform-Specific Tailoring: Adapt your content and voice to each platform’s unique audience and format. Be more formal on LinkedIn, playful on Instagram, and informative on Twitter.
4.Advertising
Make every ad a brand-building opportunity. Ensure that:
Messaging Aligns: Your ad copy, visuals, and overall tone mirror your brand voice and values. Don’t deviate from your established narrative for the sake of a single ad.
Targeting Precision: Choose platforms and demographics that align with your ideal customer, maximizing your reach and ensuring your message resonates with the right audience.
Track and Analyze: Monitor the performance of your ads and tailor them based on your findings. Adapt your messaging, targeting, and creatives to optimize impact and align with your brand goals.
5.Sales and Customer Service
Every interaction, from initial sales contact to post-purchase support, is an opportunity to reinforce your brand. Remember:
Brand-Trained Staff: Ensure your sales and customer service teams understand your brand values and voice. Train them to communicate accordingly, delivering a consistent and positive brand experience.
Personalized Approach: Treat every customer as an individual. Tailor your communication to their needs and preferences, demonstrating the personal touch that humanizes your brand.
Going the Extra Mile: Exceed customer expectations with proactive problem-solving, surprise-and-delight gestures, and genuine care. These interactions leave a lasting impression and strengthen brand loyalty.
As you can see, there are a ton of benefits to having a strategically developed and cohesive brand. Any company can benefit from a solid brand strategy, whether it’s a billion dollar corporation, or a small mom and pop. However, building a brand is not a simple task. Along with developing a well thought out brand positioning strategy, a company needs to communicate the brand internally and externally. Additionally, it’s important to consistently invest into the brand, and slowly change the brand to stay with the times.
