Cambridge Dictionary defines branding as "The act of providing a company with a particular design or symbol for the promotion of its products and services". Not so long ago, the branding was pretty precise – at least the overall consensus at that time.
Branding
is (and is still) misunderstood by being reduced to its aesthetic component: visual identity. For many – the name,
the logo, design, packaging, etc., is still about visual identity. Moreover,
while branding has evolved enormously over many years, even high-level
marketers are preaching the same old vision
of branding.
The branding of a business is more important
than you could think. Your brand may appear on the outside to consist only of
items such as logos and colors, but in fact your brand is your entire business
identity. It’s the personality of your
brand!
The concept is made much more sense when we
dive deeper into its meaning. Here is a
rough breakdown:
1. The
continuous process
Because it never stops, branding is an ongoing
process. People, markets and enterprises are changing constantly and the brand
needs to evolve to stay fast.
2.
Identifying, creating, managing
There is a structured process to branding, firstly,
you need to identify who/what you want your stakeholders to be, develop your
brand strategy and manage everything that will affect your positioning.
3.
Cumulative assets and measures
The position of your stakeholders has to be
translated into assets (e.g. visual identities, content, products, advertising) and measures (e.g., service, customer
support, human relationships, experience).
4. Brand
awareness
Also referred to as reputation. This is the
association with your brand that an individual (customer or not) thinks of.
This is the result of the process of branding (or lack thereof).
5.
Stakeholders
Customers are not the only people who create
an insight into your brand. Possible clients, existing clients, employees,
shareholders and business partners are part of the stakeholders involved. Each
creates its own perception and interacts accordingly with the brand.
Let's make
something straight: it builds up
reputation whether the enterprise does or doesn't. The result can be a good or
bad reputation. Understanding and using branding only means taking the reins
and trying to control the reputation. That's why branding from the start of
your business should be considered…read more
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