An Introduction to Brand Building
The concept of brand building is quite simple, yet there is no proper definition that captures the essence of the term in its entirety. While most people think brand building is all about showcasing your brand and communicating, in reality, it is a lot more than that. The best possible way to understand brand building is to know that it is a process that creates value for consumers. It covers all the customer-related factors like how they know, experience and feel about your business in its entirety.
There are three popular types of brands, and each of them is identified differently. A service brand is built on knowledge, experience and culture that one has with the service-providing company, people or agency. Greek Squad and Molly Maid are examples of service brands. Second comes a retail brand that is built on a mixture of service experience and products such as KFC, Chick-fil-A, and Kroger. A brand that is based on the experience that one has with a particular product is known as a product brand like Sony, Nike, and Ford.
Benefits of Brand Building
Recognition and Loyalty
The main reason behind branding is to make customers remember your business. If you use a strong brand name and an attractive logo or image, your potential customers are more likely to keep your company image in their mind. For businesses that sell products that are often bought on impulse, recognition by consumers could make a difference of sale or no sale. Even if the buyer is not aware that you are selling a particular product, there are more chances that they will buy it if they trust your brand. If they trust you with one product, they are likely to trust you with unfamiliar products as well. When a buyer is satisfied with their purchase and/or your service, brand building helps promote customer loyalty.
Image of an Established Business
A strong brand presents an image of an established and large business to their potential customers. It has been observed that companies that spend a lot of money on promotion and advertising are considered as big brands or large businesses. If your brand building is efficient and powerful, it will make your business appear larger than it actually is. The image matters when customers want to be assured that your company will still be there after a few years.
Perception of Quality
The common belief is that a widely-known brand will sell a higher quality of products or services as compared to a less-known business. Brand building signifies value and quality. With strong and effective branding, the image of quality of your business will increase. Most people believe that if a business is hesitant to put their brand name on a product, it is of poor quality. However, it is important to know that branding cannot replace good quality and bad publicity can cause damage to your brand.
Image of Experience and Reliability
Since brand building is an indication of an established business, it shows that your company has been around for long enough and is reliable enough to be trusted. A branded business will be seen as a company that is experienced in what it offers, which makes it more trustworthy than an unbranded business.
When you have a recognized brand name, it enables you to link together various ranges and products. You can put the name and logo of your brand on any service or product you sell as customers are more likely to buy it because of your brand name.
It is important to carry your brand amongst all your marketing channels – talk to me today to discus how we can achieve this for your company