My Take on Branding: The Basics
The American Marketing Association (AMA) defines a brand as “a name, term, sign, symbol or design, or a combination of them intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of other sellers” while Cambridge Dictionary defines branding as “the act of giving a company a particular design or symbol to advertise its products and services.” Not so long ago, this was a pretty accurate description of branding — at least, what the general consensus was at the time.
Branding was (and still is) misunderstood by being reduced to only its visual aesthetic component. For many, whether specialists or not, branding is still just about the visual identity — name, logo, slogan, design, etc. Even more so, while the concept of branding and its understanding have evolved enormously over the years, the same old vision of branding is preached, even by high-level marketers.
There are so many different takes on the rather broad topic of “What does branding mean?” Well, branding today is so vague that no one can seem to agree on a set of definitions. A branding strategy is also vastly different from it was just a few years ago.
Yet branding today is so much more than just a look or a logo. It has come to signify the emotional “gut feeling” reaction a company can elicit from its customers.
For example, have you ever listened to one of those catchy advertising jingles and then caught yourself humming it later on? We called this, a ‘stuck song syndrome’, or an earworm which is a psychological phenomenon that can spontaneously trigger emotions, memories, or associations simply by hearing a tune.
— In a sense, it’s a simple yet perfect analogy to understand the importance of branding. Branding is mnemonic which means it is based on the lasting feeling, experience, and emotion that consumers associate with your brand. It provides an intangible quality that customers connect with and relate to in their daily lives.
Okay, let’s break it down one by one:
What branding actually is?
Branding is the perpetual process of identifying, creating, and managing how your brand known or stand out to the public and differentiates itself from others (competitors).
Now, how do you build a brand?
- Define your business identity
Knowing what you want your business to represent and what you want its purpose to be is the first step in building a brand. By envisioning what you want your business to be, you can start planning to make it a reality. - Choose your target audience
Targeting a specific audience is important when cultivating your brand identity. Consider your audience’s age, gender, socio-economic status, culture, and even geographic location. These factors will help influence the way you present your business to the public. - Establish employee or community pride
The people (employees/community) who stand behind their brand and take pride in their work are not only good for business, they also play a key role in shaping public perception of your brand. This has positive implications across the board. It can influence the ways customers identify your brand, but it can also encourage prospective employees. A well-branded business should make workers feel a sense of belonging, overall satisfaction, and pride. This will encourage them to authentically promote the brand across all types of channels and platforms. Don’t underestimate the power of words of mouth. - Enhance your business value
Whether you’re a small business owner or an established corporation, branding plays an important role in validating your financial value and building your brand equity. The growth of your business can depend on successful branding when attracting new customers, generating business, or breaking into new markets. Even more, in regard to expanding your venture, an expertly-branded business is a more attractive investment for potential investors.
Why branding is important?
- Builds brand recognition and helps you to stand out from the competition.
- Sparks a connection with your audience and turns that audience into loyal customers.
- Creates a consistent brand experience for your audience.
By carefully constructing your brand through stories, relationships, marketing messages, and visual assets, you have the opportunity of shaping your customers’ expectations and creating a unique bond that goes beyond the buying-selling relationship.
Good branding is strategic, while marketing is tactical. When you establish the higher objectives and clearly define your brand promise, you can start crafting a marketing plan that’s geared towards achieving those goals.
