Branding is a powerful tool that holds incredible potential for a business, and yet it’s often widely misunderstood.
There’s a lot packed into the term “branding.” Many business owners hold misconceptions regarding what branding truly is, so we’re here to set the record straight with the 8 Truths About Branding.
1. Branding Is More Than Just a Logo
It’s not uncommon for us to receive the request: “I need my branding done. Can you design me a logo?”
While a logo is most definitely one part of the branding process, it’s only the tip of the iceberg. A strategic brand plays a part in every element of your business that your clients interact with – everything they see, hear and connect with.
Your brand is your reputation.
Branding is all about presenting your clients with one cohesive image that represents who you are and what you do through all your touchpoints. It’s much more than just a logo.
2. Branding Is More Than How Things Look
A brand’s visual identity plays a key role in effective branding. However, even the prettiest designs can’t undo the damage done by a bad customer experience.
Branding encompasses all that you do, from management to communications. A strong brand goes beyond your visual identity and provides clarity and focus for your audience, but it’s only effective if it’s backed by the practices of a well-run and sustainable business.
“Your brand is a story unfolding across all customer touchpoints." -- Jonah Sachs, Author and Entrepreneur
3. Branding Is Connected and Distinct from Marketing or Advertising
Marketing, advertising, and branding are all interconnected yet distinct. Compared to branding, marketing and advertising involve more specific goals and measurable outcomes.
Advertising tends to focus on making sales, while marketing lies closer to branding in that it deals with nurturing relationships between a brand and its audience.
Marketing efforts are integral to building brand recognition, and their effectiveness is influenced by how strong and well-defined the brand identity is.
4. Branding Is for Companies of All Sizes
Of course, large companies utilize strategic branding to grow and maintain their position in the market. However, branding can be just as – if not more – effective for companies on the smaller side.
Word of mouth and foot traffic only take you so far. A solid brand helps businesses of any size reach new customers and retain their existing ones.
The same branding principles apply to big and small companies; the only difference is that the complexity of managing a brand will increase as the size of the business grows.
5. Branding Provides Measurable Value Beyond ROI
Many assume that without a clear and immediate ROI, branding doesn’t provide real value.
They’re forgetting that ROI is not the only measure of value to a business. A strong brand is an asset that gives a business a visual identity system that protects it and enables it to be trademarked and licensed or sold.
A well-designed brand also increases the vitality of a business and makes it more attractive to not only investors but new talent.
6. Branding Affects Sales
The impact that branding has on sales can be difficult to quantify, but it most certainly exists.
Branding works to increase trust with an audience and results in a higher perceived level of quality. Although intangible, these elements are extremely valuable when it comes to making sales.
7. The Time for Branding Is Now
Many seem to think that branding should wait until either the business is more successful or until things have started to go wrong. The reality is that branding is a piece of the puzzle that can help the business become more successful and prevent it from going downhill.
Branding acts as a strong foundation, which can then adapt to the needs of the business and grow with its demands. There's no need to wait until later – in fact, waiting to implement branding is only doing your business a disservice.
8. Branding Requires a Tailored Approach
Many business owners have the misconception that branding can be treated as a commodity. This belief is validated by businesses claiming to offer branding for unfeasibly low prices, often combined with the promise of an unrealistic number of revisions.
This projects the image that branding is just a product you can buy off-the-shelf or subscribe to and never worry about again.
The reality is that branding is in no way a one-size-fits-all solution. In order to be effective, branding services should come from genuine expertise and be tailored to the particular needs of your business to offer solutions that address specific challenges.
Branding holds extreme potential for businesses of any size. For more information regarding the intricacies of branding and how a brand strategist in Waterdown could help you, book a call with us today.