Nailing the Basics: What is Branding?

The benefits of investing in branding and how to stand out in a crowded market.

November 19, 2020
Rory a. carrillo
Principal Consultant

So, what is branding?

Branding by definition is the creation of a specific name, logo, symbol or designs that identify and differentiate a product or service from another. Its purpose is to attract customers, which involves defining your brand promise and communicating it in a way that is consistent, clear and as personalized to your customer as possible.

How do you want your customers to describe their experience?

You get to define this. By creating consistent, memorable brand experiences, your customers can learn what to expect from you which can ultimately increase brand awareness and loyalty. It's not about being perfect - mistakes and setbacks are inevitable for any brand. It's about handling every situation with integrity and authenticity, good or bad, which can lead to the growth of lasting relationships with your customers.

It’s key to distinguish yourself from your competitors and be clear about your value proposition for your customer - what is in it for them? In order to determine this, start with putting yourself in your customers' shoes to answer 'why' someone should do business with you. How will their life improve? If you don't know, how will your future customers know?

Not only does strong branding increase the value of a company, it also provides employees with direction and motivation. The company's ability to acquire new customers also depends on the strength of its branding.

Further benefits of investing in your brand strategy:

  • Increases customer recognition
  • Provides a competitive edge in the market [especially a saturated one]
  • Enhanced credibility and ease of purchase
  • Easy introduction of new products
  • Customer loyalty and shared values
  • Helps you attract your ideal customer
  • Enables you to build a strong reputation

While we can give you every reason under the sun to invest in your brand strategy, we know the burden it puts on a company in respect to time, money and resources. We would advice you to start with the basics and expand your efforts when your resources expand. Think of the "early days" of your brand strategy as an opportunity gain insight from your potential customers. What are their pain points? What problems could you solve for them? How will their lives change with your product or service? You will learn more than you imagined by asking good questions VS waiting until you have everything perfect.

Here are a few helpful articles that may open your mind up to new ways to focus your efforts: