Branding is something that all business owners must tackle. Unfortunately, many people mistake the term “branding” for traditional marketing, believing they have similar meaning. While there are some similarities between the two, branding and marketing have subtle nuances that shouldn’t be ignored. So, what’s the difference between them and how should you brand your business?
Branding Explained
A company’s brand is essentially the way its customers or clients perceive it. A recent article published by Forbes explained the term by saying it is “what your prospect thinks when he or she hears your name. When people hear the brand Apple, for instance, they associate it with premium, user-friendly computers, tablets, smartphones and other accessories. That’s because Apple has branded their business around this perception, almost manipulating the public’s perception towards their company.
What is Your Brand?
Think long and hard when choosing a brand for your business, because this will play a major role its success rate. Ideally, your brand should be unique, memorable, and relevant to the products or services offered by your business. Choosing a generic brand is a sure-fire recipe for failure, as customers will easily forget it. I recommend creating a list of key attributes associated with your business and why it’s the leading figure in its respective niche. You can then use this information to come up with a strong brand image.
Understanding Brand Elements
A company’s brand can be broken down into several different elements, each of which helps to create the association between it and the target audience. Common brand elements include a company’s name, logo, color scheme, slogan, music/songs, images, mascots, people, and even scents.
Some people assume that a brand consists of nothing more than a logo, but this couldn’t be further from the truth. The car insurance company Geico, for instance, has a talking Gecko as part of its brand, while Progressive insurance has the now famous “Flo” as part of its brand. Companies are even using scents as part of their brand, adding scented fragrances to encourage customers to buy their products.
Tips on Branding Your Business
- After choosing a brand for your business, stick with it and avoid experimenting with other elements and variations thereof.
- Use your company’s brand elements across all promotional material.
- Choose bold, bright colors as part of your band.
- Use social media to brand your business, creating a Facebook page, Google+ page and Twitter account associated with your brand.
- Look at your competitors’ brand elements for inspiration.
