What Is Branding And Why Is It Important For Your Business?

What's a brand?

A brand is the characteristic, or collection of characteristics, that sets an organisation apart from others. A brand is usually made up of a name, tagline, logo or symbol, design, a brand's voice, etc. It also refers to the total experience that customers have while engaging with the company - whether that is as a customer, a client, a social media fan, or just a passerby.

What is branding?

Branding is the process of researching, developing, and applying a distinguishing characteristic or set of characteristics to your organisation, so consumers begin to associate your brand with your products or services.

For example, Coca-Cola's trademark is one of the most recognised logos and colour stories worldwide. The classic red-and-white letters, bright artwork, and signature fonts have endured for more than a century.

Having stood the test of time, Coca-Cola's branding is proof that consistency, success, and efficient branding are powerful, something consumers have grown to appreciate.

That is, branding is an iterative process that requires getting inside your prospects' hearts as well as the heart of your business. This is important for many reasons -- and we cover those below.

The Importance of Branding

Your brand is perhaps one of the most important assets your organisation has. It gives your organisation a personality, makes your company memorable, drives consumers to buy from you, supports your brand marketing and advertising, and gives your employees a sense of pride.

Branding may be a crucial element for consumers in making their purchasing decisions. In fact, one study by Capgemini found users who felt connected with the brand spent double as much as those who did not.

Branding gives your company a powerful identity that extends beyond your products or services. It gives consumers something to relate to. A strong brand makes your company memorable. It is your business face, helping consumers differentiate between your company in all media branding.

Branding supports your efforts in intangible marketing and advertising. It helps your promotions pack an extra punch, adding consumer awareness and influence.

Branding Terms to Know

Brand Awareness

Brand recognition refers to how familiar the general public and your target market or audience are with your brand. High brand awareness results in brands being called "trending", "buzzworthy", or "popular". Brand awareness is important because consumers cannot think about buying from your brand unless they are familiar with it.

Brand Extension

Brand extension is when companies "expand" their brands by developing new products in new industries and markets. Think of a Honda lawn mower, or a Martha Stewart bed. Brand extensions enable companies (or individuals) to use their brand recognition and brand equity to generate multiple streams of revenue and diversify their product lines.

Brand Identity

Brand identity is the identity of your company and the promises that you make to customers. It is what you want your customers to walk away with when interacting with your brand. Your brand's identity is usually made up of your values, the way that you communicate about your products or services, and the feelings that people will have after engaging with it.

Conclusion

In really simple terms, the product is what you are selling, the brand is the visual identity or perceived image of the product you are selling, and the brand is a strategy for creating this image. That is why your branding strategy and branding management plan are so important.

I hope that this post has helped you get a better understanding of what a brand means. If you have any comments or suggestions on how to make this article better, feel free to share your thoughts by getting in touch.

Branding Agency To Support Small Businesses

At Red Kite SEO, we are a specialist Digital Marketing Agency, located in Sheffield, South Yorkshire, United Kingdom. We help small business owners to boost their websites so they can rank on Google. Services we offer are Digital Marketing, SEO, Web Design and Paid Ads (PPC).

We help by setting up the foundations to build online brand recognition and affinity for a local business. Our promise is to help clients rank above others in their industries and in the locations they serve. For honest advice and to speak to us about your site, please contact us!