You’ve most likely heard how important creating or developing a brand is for any company to grow. With the day-to-day responsibilities of running a business, many put brand-building at the bottom of the priority list and treat as a “would-like-to have” and not a “need-to-have.” However, creating a brand is the starting place for any business to tell its story.
What does branding even mean, anyway?
“Branding” is an often misunderstood term, but so important in any company’s growth and success. People mistake branding for having a logo. While a logo is a huge part of your brand, it isn’t the brand itself. A brand is actually emotional, rather than physical.
Branding is the promise you make. It is the set of emotions and perceptions that you intentionally cultivate around your business, and constantly communicate through your assets and content.
Branding helps to identify your products or services, distinguish you from competitors, and create a persona that your customers can connect with. It’s not just your products or services, it’s the emotions your audience feels when thinking about your business – emotions that you help to create.
10 things a Brand Does:
‣ Sets expectations.
‣ Shapes your business model.
‣ Creates meaning around your product(s) or service(s).
‣ Determines what you sell, where you sell it, and when you sell it.
‣ Dictates the price range you can sell your product(s) or service(s).
‣ Influences the kind of customer you can sell your products/services to.
‣ Changes how people feel about your products/services.
‣ Affects the kind of staff you attract.
‣ Demonstrates your company’s values.
‣ Enables loyalty and connection.