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Branding is the process of creating and managing a visual, verbal and emotional identity for a company or product. This includes elements such as the name, logo, colors, fonts and tagline, which are used to differentiate a company's products or services from those of competitors and create an emotional connection with consumers.
DOES MY BUSINESS NEED A BRAND?
Branding can help build a strong and positive company image and can be a key factor in increasing business loyalty and success.
Building a brand means:
To transmit a message about a product, in an efficient way, so that consumers immediately associate it with their needs.
Every business benefits from a brand, even if it is not treated as such from the very beginning. Your existing and potential customers already have a certain perception of what your business represents for them.
Brands contribute to increasing turnover by encouraging customer loyalty. If the business environment in which you operate is characterized by an accelerated dynamic of change, a brand offers confidence to its consumers.
WHY WOULD WE NEED TO CREATE A BRAND FOR OUR BUSINESS?
It ensures our differentiation
The possibility to differentiate yourself from the competition is the main reason why you should want to create your own brand. If you operate in a crowded market, you must constantly look for ways to be recognized. The brand can help you stand out from the crowd - there are many types of mechanical pencils, but only one is Rotring.
A much more effective and efficient marketing
Another argument in favor of building a brand is to transform your sales force into a much more effective and efficient tool. Imagine what it would be like if you didn't spend 50% of your time with a new prospect explaining who you are, what you do and how you are going to solve their need.
How would it be if the brand communicated all these things for you? Great, right? Thus, you will be able to spend 100% of your time actually focusing on the sale. Another benefit of branding lies in the multiplier effect – all the effort you decide to invest in increasing brand awareness through its promotion and marketing to the target audience automatically transfers its effects to the products and services offered .
Thus, when you promote your brand, you will promote, more or less directly, all the products or services in your portfolio. Another situation in which the brand justifies its presence is when there is no other point of differentiation compared to the competition and consumers are faced with a wide range of suppliers at
who can call
In this case, consumers will always choose the product/service of the brand that they feel suits them best.
Your compatibility with the consumer is translated and communicated with the help of the brand. A brand must clearly convey who you are, what you do and how you proceed in your activity. He has the task of communicating all these things and, at the same time, proving himself relevant to consumers and building credibility.
Brand assessment of the business.
Before actually moving on to the development of the brand identity, the first step you have to go through is that of evaluating the business and how it works. What is the message you want and are you able to constantly convey to your target? Be as objective and realistic as possible in the answers provided!
For this business assessment, there are five areas recommended to be considered:
- defining the basic or key competencies for the business, product or service - these represent the things you do for the client and not necessarily what you do. For example, the core competence of a wine shop is to sell wines for customers to enjoy - not just to sell wines.
- evaluation of existing clients and identification of potential ones - carefully investigate what they like and what are the things that bother them. For example, if they are followers of competitive prices, it is useless to present yourself as a supplier with a policy of premium prices compared to products that your competitors also offer at much lower prices.
- identifying the perception of clients and employees vis-à-vis your business. Is it a reliable brand? Thoughtful?
Cheap? Expensive? Of luxury? Later, these emotional responses (brand values) will form the basis of the brand message.
- defining the perceived quality of the business - respectively, how favorably your business is seen by the public.
Do consumers trust the business, product or service offered?
Do I know exactly what the business/service/product does for them?
What do they think of when they hear your business name?
A low level of perceived quality will restrict or damage the business. An increased level of perceived quality provides you with a real launch and growth platform.
- business development - imagine how much the business can grow starting from the current perception of customers.
The way you can develop your offer is connected to the current brand.
For example, a boutique specializing in the sale of sandwiches may consider selling home-made cakes or biscuits, without abandoning its skills the base. However, if the same boutique starts selling semi-prepared frozen food, it moves away from its brand.