You must have heard the words branding and sometimes get confused about it. So I want to help you with understanding branding for business growth.

Branding is way beyond the design principles, logo, color, graphics, and packaging of products or services. It is the entirety of your business. Hence the word, BRAND.

That process of researching, developing, and applying unique feature(s) to your organization is branding. Consumers can begin to associate your brand with your products or services. 

Branding is essential because it is intangible, so you can’t touch or see it. But it is a practice of building, refining, and improving a project, product, or initiative. Strong brands have mastered how to get in touch with the heart of their customers and speak their language. 

What does branding for business mean? 

According to Investopedia, brand refers to a business and marketing concept that helps people identify a particular company, product, or individual.

You see, companies can go ahead and copy what others are doing. Like, product creation and software development, what makes for the customer base always come down to connectivity. 

A straightforward analogy is that of businesses that sell water. Let me call it packaged water. I particularly like how the branding journal explained it.

The product sold is water, but to convince people to purchase a particular water brand, companies developed different water brands, such as Evian, Perrier, Fiji, or Volvic. And each one of these brands provides a different meaning to the product water:

– Evian makes you feel young

– Perrier is refreshing, bubbling, and sexy

– Fiji Water is pure, healthy, and natural

…and so on.

What is the difference between marketing and branding

Think of marketing as the steps you take to connect with your customers and get them to buy your products or services. It comes down to the set of tools, processes, and strategies you use to promote your product, service, and the company actively. 

On the other hand, branding is the marketing practice of actively shaping your brand. It is everything you do as a business, marketing inclusive.

Why branding for business is so important

Do you want to know why branding is so important? When the purpose of branding is not known, a business is most likely not to be prepared to maximize it for their company’s growth. So why is brand strategy important? 

Brand Identity

Branding management is vital in marketing because it helps your customers identify with you. Besides the services and products, the identity created by a brand gives its customers something to relate to. The relatability of your brand can be the reason people choose you over your competition.

Vision to run with

Branding makes it more evident how you should tailor your marketing and advertising. It is the wind that propels your staff to respond to customers in the line of business.

Top of mind

Various touchpoints make for branding. Your customers are likely to have one or more things that make your brand come top in their minds each time they need to make marketing decisions. Things like brand colors or tagline could just be it for some. In contrast, others might connect more with how the security at the gate attended to them.

Employee Pride

Great branding starts from within. If your branding must be all-encompassing, it must include your workforce. These are your front liners. Study shows that happy and satisfied employee readily talks about their company leading to word-of-mouth marketing.  

How Branding for Business is done 

The beautiful thing about branding is that you can do it at your company’s level. You don’t need a Nike-sized bank account before successfully branding your business. 

what does branding mean in business, why branding is so important for business, brand identity
branding for businesses

The secret is: “how branding is done.” Put strategies in place and ensure it aligns with your vision and mission.

Identify your space

By this, I mean find you (your company’s unique space in the market). Be it a new or existing business, take a break now and pen down answers to these questions:

  • What do we want to be known for in the industry?
  • Are my companies vision and mission statement clear?
  •  What kind of difference do we want to create?

The more precise your answers are, the better and easier it gets to incorporate them into your business.

Who are you called to?

Now that you understand who you are, it should be easier to identify who you would be serving. Never assume you are called to all. That’s grand error 101.

Take some time to identify what your core customer looks like. The more details you can put together, the better. Details like:

  • Their age bracket
  • Gender
  • Financial capacity
  •  Demography

This information is, however, less in-depth than a customer persona. 

Selling Point

Chances are, your business is not enjoying the first entrant to market position. If it is, congratulations; however, many businesses might already have stiff competitors. What would differentiate you is that unique selling point.

Some businesses call it their POD – point of difference. It must not be something grand. For some, it could just be longevity, the best customer service in that line of business, or that secret sauce in that meal. Yours could be the business’s pricing strategy.

Aesthetics

You also need to pay attention to the look of your brand. Your brand visual identity includes color (s) logo, company card, and website. A brand style guide should come in handy if you are bootstrapping and can’t afford a branding agency.

Depending on the type of business, you might need additional branding assets – like product packaging or corporate letterhead. Just be sure you maintain brand consistency across your business touchpoints. 

How branding affects Consumer Behaviour

Branding enhances perception. That perception drives the response you will get from customers or potential customers. If you want to be seen in a certain way, your brand naturally will attract it. 

Conclusion

When feedbacks you get do not align with what you stand for, check through the value chain. Use feedback mechanisms to build and modify your brand as your business grows.

Nnenna Ewa is one part forex trader, one-part singer, and a total dose of a digital marketer. Self-taught in a wide range of industries, she is self-driven, and when you don’t find her doing anything tech-related, she will be spending time impacting others. She takes to her blog, techpreneurshub.com, to share a lot of what she knows about the tech and business ecosystem. Her passion for sharing knowledge on her blog and staying up-to-date in the digital marketing space is only rivaled by the love of singing and trading the currency market.

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