What’s in a brand? When you think of some well-known brands, brands such as Amazon, Apple, McDonalds, Nike, and Facebook come to mind. You already know their reputation and you can visualize their iconic logos. Why are these brands so popular? What makes them stand out from their competition?
According to Cambridge Dictionary, the most recognized definition of branding is “the act of giving a company a particular design or symbol in order to advertise its products and services.” This used to be a pretty accurate description but over the years that definition has changed to fit the needs of companies. Branding is mostly misunderstood by people focusing on one part of it: visual identity. For many people branding is just mostly about visual identity. But a brand is more than that.
A brand is an important aspect that helps give your business an identity and establishes the personality of your company. It’s important as a business that you stand out from the crowd and don’t blend in with the rest. You need to create a powerful brand that will draw people’s attention and keep their interest by fitting their needs. The way you craft your branding will help people view and understand your business, so it’s important to remember this.
Branding has always been important for a business, but with social media branding has become even more important. Consumers are hearing and learning about new brands as they use the tools of their daily lives, such as phones, tablets, computers. Social media exposure can have its pros and cons, as it’s better for consumers since they have a ton of options and can research the best brand but can make it more difficult for businesses. Businesses must try even harder to stand out from the crowd.
Focusing on the definition of branding that talks about visual identity makes everything else about branding seem less important. “The first and only golden rule about branding is this: it has to be authentic. You can’t sell lies. You can’t sell what you hope you can someday be. Sure, it works for a little while, but, if Elizabeth Holmes and Theranos has taught us anything, it’s that building a company on overpromising and under delivering, at best, makes for a terrible customer experience and, in extreme cases, leads to fraud investigations.” There are 3 important key aspects to know about successful branding:
Branding Generates New Customers
A strong brand will easily be able to get business. Strong brands usually have a positive image of the company among consumers, and they are more likely to do business with you because of the reliability and familiarity of your brand and products. With a brand that is well-established word of mouth will be the most reliable way to advertise. Word of mouth will help pass on the image of the brand which will either strengthen or weaken its reputation. If the brand is strong, new potential customers might start purchasing from the brand having heard positive things about it, helping it stand out against the competition.
Branding Creates Employee Pride and Satisfaction
Employees that work for a strong brand and advocate the brand will be satisfied with their job and have a lot of pride in the work they do for the company. Working for a brand that is strong and popular among consumers makes working there more enjoyable. Employees are also stakeholders of a brand besides just clients. Those who have a good relationship with the brand will help spread the word to clients and partners they interact with. This can help a brand have great leadership, with the employees more involved, which results in better products and services.
Branding Generates Trust within the Marketplace
A brand is only as good as the trust people have in it. If a brand is trusted, it’s because it has a strong reputation. With the proper branding, trust is created between the company and its stakeholders. This happens when a brand creates a promise associated with it and delivers on that promise. If the brand can deliver on that promise, it creates trust with the stakeholders. When there are a lot of competitors in the market, the most trusted ones will benefit the most with consumer purchases.
So, what’s in a brand? A brand consists of and creates identity, trust, new customers, employee pride and satisfaction, and a recognizable competitor in the marketplace. It turns out to be everything that can make a company successful.
A3 Media has been assisting companies build their brands for 30 years. We have launched new companies and new products in more than 150 markets, nationwide. Nothing replaces experience when establishing a new territory or brand. It’s engineered advertising that works.