There are numerous schools of thoughts surrounding branding and can be quite confusing to understand why it is important. Historically, branding was defined as a name, slogan, symbol, and design, or the combination of such elements to identify a company’s products or services. Also, branding was used to differentiate goods and services from competitors. Today, branding is more than a symbol that represents a company’s existence. Branding outlives products simply because products have a lifecycle. Therefore, a brand or branding is an evolving target which is based on the behaviors of consumers; as a result, brands create value. It is a depiction of how the company represents themselves to their clients and potential customers.
Branding is about getting one’s target market to see them as the expert and sole provider of a solution to their problems and needs. Another aspect of branding is the customer experience which is everything from a logo, website, social media and the way customers interact with the business. A good brand doesn’t just happen; it is well thought out and strategically planned. Often many small businesses and start-ups neglect to spend the necessary time developing their brand and understanding the impact it has on their business. A good brand should accomplish the flowing objectives:
- Clearly and succinctly delivers the messages
- Confirms the company’s credibility
- Connects with people on an emotional level
- Creates user loyalty
A successful and strong brand will create value well beyond a company’s physical assets. It is achieved by understanding the needs and wants of customers and prospects. At its core, branding is the representation of the organization along with delivering the promise to the consumer.