Importance of Brand Identity for Your Business
With millions of companies competing on the global market, it is now more important than ever to set yourself apart from the competition in order to attract potential customers. One way of achieving this is by means of branding. A brand is an expression of what the company stands for, and the values it upholds. Two companies might be in the same line of business, and offer products and services of a similar sort, but their brand identity might be completely different. You would think that purchasing decisions are primarily made on the basis of the products and services themselves, but in reality, brands play an equally important role.
To find out more on how branding works, which techniques are worth pursuing, as well as what its impact on a company’s bottom line is, take a look at concise, our up-to-date primer in the rest of this article.
Defining a Brand
In contrast to what a company does, its principal business activity, a brand should be understood in terms of its identity, or the way it wishes to be perceived by consumers. In other words, a brand is like a dress that a business puts on when it wishes to catch the eyes of consumers. However, since it is impossible to appeal to everyone, a company has to adopt a brand identity that best matches the tastes of its target audience. Trying to cater to multiple audiences usually results in a brand identity that no one can relate to, which is the outcome businesses have to avoid at all costs.
How does one go about defining a brand? We find that the best approach is by asking yourself a number of brand-related questions, and then trying to combine the answers into one coherent idea. A non exhaustive list would include questions such as: Why did we start a business in the first place? Which values do we uphold as a company? What do we do better than anyone else? What is our unique selling point? It is best to involve as many people as you can in this process – a diversity of opinion is crucial for finding an unbiased solution.
Brand Identity and Logo Design
A brand is only part ideas – equally important is how these ideas are expressed. One way of doing it is by means of narrative. Simply put, you can arrange the ideas, values and opinions that constitute your brand identity into the form of a story. This story should be a common thread that runs through all of your textual content, including advertising copies, product descriptions, and social media posts.
Visuals are another, complimentary way of expressing brand identity. Your company logo is especially important in this regard. A logo is a visual encapsulation of your entire brand. The purpose of a logo is to make your brand instantly recognizable, as well as to differentiate your products and services from those of your competitors.
Since your logo is such an important part of your overall branding strategy, bringing in outside assistance might be something worth looking into. For example, businesses situated in Australia might want to contact a company specializing in logo design in Sydney to ensure their logo is an accurate representation of their brand identity.
Branding and Marketing
The final piece of the branding puzzle is distribution. Your brand and your audience might be a perfect fit, but if there is little opportunity for the two to come into contact, all your branding efforts will go to waste. In other words, you have to make sure that your brand is disseminated across all available channels of communication, provided your budget allows it. Otherwise, you will have to pick and choose those that your target audience is most likely to use. In this case, your brand identity should serve as guideline when determining which marketing channels you should use.
The first thing you should consider is whether to go for traditional or digital means of distributions, or some combination of the two. Traditional branding relies on advertisements on media such as television, radio, or the newspapers. It also includes physical branding efforts such as distributing business cards, advertising on billboards, and placing the company logo on your products and services. Digital branding includes marketing on social media, creating branded blog content, as well as working with online influencers. Branding is also closely related to search engine optimization. The words you have used to define your brand identity are also the keywords you should target for SEO purposes.
As we have seen, your brand identity is an integral part of your overall business strategy. It is a way to present your business to the general public in the best possible light, as well as being a means of setting yourself apart from your competitors. So be sure to invest enough time and resources in developing your branding strategy, lest you risk getting lost in the endless sea of competition.