In the previous article, we talked about major companies and their branding strategies. That leads us to the next question, is branding really as simple as just a name and a logo? Let us discuss some of these branding components companies are looking into for their brand development so that you can understand branding better.
Brand voice is the brand’s style of communication to its customers.
Brand identity is the visible elements of your brand, in terms of colour, logo and designs.
A brand promise is really what your brand promises to deliver for every interaction with your company.
Brand values are guiding principles that shape every aspect of your business.
Brand targeting is which segments are you targeting, in terms of demographics, psychographics, geographics and behavioural variables.
Brand positioning talks about how you want your brand to be perceived by your customers.
Benefits of Brand Development
You might be thinking, “why so many components just for branding?” While you may be puzzled at the moment, let us clarify the key benefits of taking the effort to look at and improve these components for your branding.
Firstly, it is really to build on customers’ recognition of your company. In this present age, there are countless brands out there, hence, it’s important to create an identity by branding, to be easily recognised.
Another benefit is to help your customers to differentiate your business from your competitors. Thirdly, if you are launching new products, it’s easier to introduce them to your customers when your brand is well developed. Having your brand well-developed creates shared values and an emotional connection with your customers, which increases brand loyalty.
Lastly, it builds the credibility of your brand which establishes trust with your customers. Hence, a higher chance of purchase.
various brand elements to look at and improve. Not only that but those elements have to relate closely back to your company’s identity.
Let us now discuss the drawbacks of not developing your brand. Firstly, your customers will not have expectations of your business and what it has to offer which differentiates you from your competitors. If there are no expectations, then there is a lower chance for them to purchase from you.
Another drawback will be the logo design being outdated for your business. Sometimes, the logo design may not even align with your product offerings, especially for newer companies. Since the logo designs appear everywhere whenever customers interact with your business, confusion may occur to your customers, leading to them not purchasing from you.
Are you a business owner who is struggling with branding? Contact us through our email at email@example.com for more information on our branding solutions.