When thinking about a specific product or service, what comes to mind? Is it a memorable company name, a logo, a tagline or a particular colour scheme? Each component makes up a company’s brand, setting them apart in a crowded marketplace.
In this blog, we’ll assist you in learning the basics of branding, answering the question: ‘What is branding and why is it important?’
Using our expertise as a professional brand-building agency, we’ll help you understand how branding affects consumer behaviour, and offer advice on how you can build a successful brand.
What is Branding?
A brand is a company’s identity. Its goal is to ensure the memorability of a business and its offerings, making it the preferred choice over competitors.
To determine your brand identity, it’s important to ask yourself a number of questions, these include:
- What are your values and core principles?
- What makes you unique?
- What is your mission statement?
- What do you want your customers to think of when they hear your business name?
- Why are you passionate about your product or service?
- How do you want customers to describe your business?
Your branding will determine what your customers expect from you. Clearly defining your identity lays the foundation for a strong brand.
Key elements of a brand typically include:
- Logo - One of the most recognisable elements of your brand, an easily recognisable logo is vital to your branding.
- Name - These are the words used to identify your company and what you offer to customers.
- Colour Scheme - The colours you use should immediately trigger recognition with your business.
- Tagline - A brief phrase crafted to outline a brand’s values, effective taglines can create a lasting impression on consumers.
- Messaging - The right brand messaging allows a business to communicate its distinctive values to customers, making it more personable.
- Design - A consistent design communicates a brand’s personality, making it more recognisable to consumers and boosting its credibility.
What is the Difference Between Marketing and Branding?
In short, branding is a company’s identity, and marketing includes the strategies used to communicate that vision.
As branding is at the core of your marketing strategy, it must come first. All strong structures need a solid foundation. Whether you’re a new small business or an established large company looking to rebrand, you must clearly define who you are before you can devise specific marketing strategies.
While your marketing methods will change in response to evolving industry trends, your branding should be consistent throughout the lifespan of your business.
What Are the Benefits of Successful Branding?
If you’re looking to build a strong reputation, establishing a cohesive brand is essential. Some of the major benefits of successful branding include:
-
Improved Customer Loyalty
Brand loyalty pays off!
Studies have shown that 57% of consumers are willing to spend more on brands they trust. The key to building this loyalty lies in consistently exceeding customer expectations and delivering positive experiences. Think Apple - with every upgrade, their loyal customers trust their expertise to deliver exceptional products, even if the technical specs might be similar to those marketed by their competitors. -
Improved Brand Recognition
Brand recognition is key in a crowded marketplace. It’s the reason you can visualise McDonald’s golden arches even if you’re not a fast food fanatic.
While brand recognition might not mean someone buys your product or invests in your service today, it plants a seed. When they need what you offer, your brand will be the familiar face they turn to over a competitor they’ve never heard of. -
Seamless Introduction of New Products
Loyal customers will be naturally curious about what you’ll do next, potentially anticipating new product or service launches with excitement. This pre-built interest makes introducing new offerings less costly and, therefore, a significantly less risky process.
How Does Branding Affect Consumer Behaviour?
Branding is so much more than logos and taglines. It’s about creating an emotional connection between you and your customers.
When done right, your brand goes beyond product features and pricing, it becomes something customers believe in and identify with.
There are a number of ways branding can influence consumer behaviour, including:
-
Customer Perceptions
Clear, relatable messaging allows brands to shape how consumers perceive their products or services. A strong brand message can transform your target audience’s perception from simple awareness to positive association and, ultimately, brand loyalty. -
Status
Strong brand status attracts customers in two ways: association and trust. -
Association
Consumers want to align themselves with brands they admire. A strong brand image reflects a lifestyle that resonates with the target audience. -
Trust
A good brand status often signifies reliability and quality. Customers are more likely to trust that a brand with a good reputation will deliver a positive experience. -
Purchasing Power
Consumers don’t solely rely on product features and benefits when making purchase decisions. Brand trust plays a critical role, as people are more likely to spend their hard-earned money on a familiar brand they trust to deliver on its promises.
Ready to Build Your Brand?
Now that you know what branding is and why it's important, take the next step: Craft a message that resonates with your audience and watch your brand take off!
At Vooba, we’re pleased to deliver outstanding branding and marketing services, designed to help your business stand out from the crowd. Our years of experience working with brands from a diverse range of industries means that we can assist you in creating a memorable visual identity that considers all the important elements, such as names, colour schemes and logos.
To find out more about the brand-building process, please get in touch. Give us a call today on 01798 667167 , or email [email protected] and one of our experienced team members will be more than happy to provide further details.
