Branding

What is Branding?

You hear about it everywhere, but how does branding benefit you?

There’s been a lot of confusion about branding. In fact, it’s often interchanged with the works marketing and the advertising. It appears that people have mixed up the three terms often, unfortunately, having an understanding of these concepts is vital to your business – so it’s time to clear up the confusion.

According to brandchannel.com, “Branding is the foundation of marketing and is inseparable from business strategy. It is therefore more than putting a label on a fancy product. As such, a brand is a combination of attributes, communicated through a name, or a symbol, that influences a thought-process in the mind of an audience and creates value. Branding is the blend of art and science that manages associations between a brand and memories in the mind of the brand’s audience. It involves focusing resources on selected tangible and intangible attributes to differentiate the brand in an attractive, meaningful and compelling way for the targeted audience.”

First you create a brand, then you spend money to create awareness with your target audience the brand. You want your potential clients – your targets – to see you as the answer that provides a solution to their problem. Once you’ve established with your potential clients that you have the answer, they will be willing to pay a premium for your brand.

Brand is not a product or service – it’s a personality, a vibe. It’s what your company stands for or what it’s known for. What’s your promise to the world?

When you’re ready to differentiate your brand or promise or vibe from your competitions – then you incorporate marketing. Marketing is strategy – a tool that will implement to create awareness and persuade.

Advertising, is something that you notice around you – such as print (newspaper and magazine ads); outdoor (billboards); online (Web banners); and broadcast (radio and TV).

Customers will pay a premium for a brand and will choose based on price for a commodity. A brand creates an image in the mind of your customers.

Your brand is important. If you can’t define your brand, your customers won’t be able to either. Once you’ve determined your brand – build it. Since it’s your promise – it’s a message you want to communicate effectively to your customers.