What is branding? And why is it so crucial in today’s world of marketing?
Today, branding goes way beyond just a logo or a graphic image. It’s a consumer’s perception when they hear or think of your company’s name, service, or product. A brand also increases the value of a company, provides employees with direction and motivation, and makes acquiring new prospects easier.
A great example of successful branding would be Rolex’s iconic pointed crown logo which bears a sense of stature, triumph, and perfectionism.
What should a brand do?
A brand should be a problem-solver. Take the Nike swoosh, for example. The Nike swoosh tells the consumer that this shoe will solve the problem of running too slow. As a result, the swoosh makes every consumer feel like an athlete.
Objectives that a good brand will achieve:
- Recognition
- Awareness
- Engagement
- Brand Loyalty
- Emotional connections
- Motivation to buy
- Credibility
To succeed in branding, you must understand your customers’ and prospects’ needs and wants. To accomplish this, think of branding as a human and how this human (your brand) should reach or meet as many public contacts as possible. If consumers can start to identify your brand, it will survive and connect with not only customers but prospects as well. Going back to the Rolex example, Rolex has created a brand that has stood the test of time and has been around for almost a hundred years. They set themselves apart as the king of luxury watches.
The Importance of Branding
Spending time researching, defining, and building your brand is important. Essentially, a brand is a source of a promise to your customer. Make sure you develop a strategic marketing plan to serve as a guide for your brand. The effectiveness of a brand doesn’t stop at one purchase; the brand “experience” should go beyond that, creating brand loyalty.
If you’re not sure about the success of your company’s brand or are looking to create a brand campaign, please give Media Venue a call at 502-855-4783 or send us an email at cassie@mediavenue.com.
Sources
Goodson, Scott. “Why Brand Building Is Important.” Forbes, Forbes Magazine, 30 May 2012.
Lake, Laura. “Why Branding Is Important in Marketing.” The Balance Small Business, 5 Jan. 2020.
“Why Is Branding Important?” Strategy LLC, 18 Sept. 2018.
