What is Branding?

What is Branding?

Branding is what defines your product, business, or platform. Branding is the platform that gives shape to your idea to make it stand out in the clutter of the digital era and grabs the attention of your end customer. Branding is the wand of magic that converts first-time customers into lifetime loyal customers. Branding is the thing you want to make an impact in the market as everyone is in the market is trying to overcome you.

Branding is not just the company name, address, logo, or campaigns, but it goes far beyond those things when it comes to taking a brand name to heights of the market.

Most people automatically think of a company’s logo when it comes to branding. But while your logo is an important component of your business brand, branding encompasses far more than the visual elements of your brand. Branding includes not only your company’s visual identity but also your customers’ overall perception of your brand. These perceptions are based on a number of elements, including intangibles such as:

  • Brand promises
  • Brand personality
  • Brand reputation
  • Customer experiences and expectations

Why Is Branding Important?

The importance of branding in your marketing strategy can’t be underestimated — even for small businesses. Your brand influences every aspect of your customer’s perceptions of your company. Branding builds trust, recognition, loyalty, and reputation and can help you to create an ever-lasting impact on your customers.

According to studies, about 70% of consumers say that a brand’s culture and transparency attract them to buy from a certain brand, and about 60% want companies to stand up for the issues they are passionate about. This illustrates the impact of strong branding. Your brand has the potential to say so much about your company:

  • Products or services
  • Customer relations
  • Employee relations
  • Promises
  • Values
  • Societal goals

Consider LG, a brand that leverages its strong brand identity across all its marketing strategies. LG’s brand recognition extends beyond the iconic red logo. Even its short and powerful slogan “Life’s Good” is immediately identifiable to the majority of consumers as it related to products that improve your standard of living, aids your day to activities or relates to leisure time. In every way the tagline relates to the products that brings comfort to your life.

Brand Marketing: What Is the Relationship Between Brand and Marketing?

First, we need to understand the difference between branding and marketing. It’s not uncommon to see people and companies using the two terms interchangeably, but they are actually two very distinct concepts.

Branding is about who your company is, its brand personality, its voice, its purpose. As the driving force behind customer loyalty and recognition, branding speaks to the long term. Marketing, on the other hand, is about achieving more tactical goals through more short-term marketing objectives such as sales and revenue growth, new customer acquisition, and expanded market dominance.

But despite the differences, a successful brand marketing strategy understands the interplay between the two concepts. Branding serves as a guide for your marketing plan, while marketing promotes your business, products, and services by building and leveraging the power of your brand.

To conclude, we can say Regardless of what industry you’re in, competition is always fierce. Whether we open a small bike repair shop, sell a technology-based product, or become a social media consultant—branding allows us to differentiate ourselves from our competitors, by highlighting and distinguishing what you have to offer, and why it is a better choice.