The B Word Explained (Branding)
You hear the words brand and branding thrown around a lot in relation to launch of a business. Branding is a term that used so frequently yet the perception varies from person to person. I have many clients ask me well what is branding? Do I need branding if I have a logo? Today, I am going to break down what branding is and why it is important to your growing business.
Before I explain the ins & outs of Branding, I wanted to review a misconception surrounding the concept of branding.
Branding goes beyond a logo: Although a logo is an important factor of your brand it is not the only factor in a strong brand.
The B Word explained:
Branding is defined as the tangible and intangible elements that fit together to communicate the complete image of your business. When establishing our brands we generally associate branding as only the tangible. We focus on the logo, website, business cards, packaging etc. Which leaves the intangible such as copy, tone, voice, message, and experience incomplete.
You want to create a brand that is authentic and trustworthy so potential customers will take that leap of faith with you!
"Your brand is your promise to your customer. It tells them what they can expect from your products and services, and it differentiates your offering from that of your competitors. Your brand is derived from who you are, who you want to be and who people perceive you to be." Entrepreneur.com
The brand is you create and communicate to your ideal audience will be the first impression you give. As people, we want to know if what we are buying is going to be worth it. Strong brands can communicate an expectation which comforts the customer, with both tangible and intangible elements.
For Example, We associate the Green Siren logo, red cup, their cardboard sleeves, chalkboard signs, etc with Starbucks. If we were to close our eyes, we could visual a strong smell of coffee, casual music, conversation, and laptops. Overall, Starbucks created an experience, with tangible & intangible elements, that is the same and to be expected all across the world.
Why is the “B” word so IMPORTANT?
A Great First Impression: Your brand is the first look, feel, taste that a customer will get into who you are as a business. So you want to make sure that your brand is strong and communicates your values.
Establish Memorability: Majority of people establish a mental reminder of a brand. A strong brand designed with great tangible elements will help the customer remember what you look like & give them an anchor element to associate with your brand.
Differentiation: There can be 100 million or 2 business like you out in the world but branding is what helps YOU STAND OUT from the competition. If you have created an authentic brand that is rooted in who you are then you have established leverage in your industry.
Brand Loyalty: When customers fall in love with the brand then they are more likely to be a repeat customer.
- Attraction: If branding is done correctly, the simple essence of your brand can attract your ideal customer.