You’re probably wondering, “What does branding accomplish?” It may even seem like a made-up part of marketing strategy, but this is far from true. Branding impacts more than advertising campaigns for a business. A strong brand offers significant benefits to your consumers, sales, and your company overall. You’ll find long-term positive effects if you develop prominent aspects of your brand. But what makes up branding in the first place?
You may think the purpose of branding is only for logos and color schemes, but a built-out brand kit is more comprehensive. Learn about branding’s high value for your business growth and success.
Before we break down branding benefits, you need a clear understanding of the key elements involved in any brand strategy. Many brand strategists use specific language to help define a brand.
You likely know some of these elements if you’re familiar with marketing or branding at all. Let’s clarify these essential terms before we explain their benefits.
- Name: what gives your business its standout factor and recognizability (i.e., Google, Kleenex, Band-Aid)
- Logo: visually trademarks your business, setting it apart from competitors
- Colors: used in logos, web design, etc. for consistency and familiarity
- Slogan or tagline: a catchy one-liner consumers instantly recognize (e.g., do it)
- Font or typography: unique fonts help consumers identify a brand’s personality
- Brand personality: the voice, values, and aesthetic of a business
- Brand voice: consistent messaging that shares your brand’s personality
- Brand positioning: where a business wants to stand with their target audience
With a clearer understanding of these key features, it’s time to explore how they serve a purpose for your business. Accomplishing successful branding depends on the right balance of each element listed above.
The essentials for any brand define a brand kit. Some of these are a lower priority if your business does not emphasize certain design elements like color and typeface. Defining your target audience and brand positioning may take place over these.
Without the clarity a target audience brings, you’ll find these benefits far less likely to reach your business. Before you can expect branding to accomplish anything for your business, you must define its personality and voice.
Recognition and awareness
Marketing and selling your business is all about recognition. If consumers are familiar with your brand, they’ll buy from you. Whether it’s eye-catching colors or a witty slogan, if your business stands out, that’s potential lead conversions and returning customers.
The more aware consumers are, the more they buy from a brand. Something as simple as the colors you choose can increase recognition by 80%. These simple details have a trickle effect on your business growth and revenue generation.
Adapting your brand to boost awareness allows you to elevate future marketing campaigns. With clarified messaging (via details communicated in your brand kit), you can extend your brand voice’s reach.
Credibility and equity
If you’re worried about tracking the accomplishments of branding, there are many ways to measure results. Whether you rely on A/B testing in email campaigns, heatmapping, or other tracking tools, you can measure ROI efficiently.
With consumers needing five to seven impressions before they recall a brand, it’s important to appear credible. Consistent messaging builds more than awareness; it builds credibility and not just with consumers.
You’ll find potential partners and clients more interested in investing in your business if you stand out online. Your perceived equity can generate actual equity with future consumers, too.
Trust and loyalty
Building trust takes time with anyone, but especially with businesses. Consumers aren’t quick to trust a brand with unclear messaging. If your company values aren’t steady and transparent with consumers, they’re less likely to stay loyal to your brand.
Brand loyalty allows you to create long-term client relationships, which are invaluable for revenue and digital awareness. If you can create a virtual community based on your brand voice and values, you can put yourself ahead of the competition.
Regardless of your business offerings, trust is easily the biggest accomplishment for any brand. Prioritizing trustworthiness raises your brand’s perceived value, too. In turn, you can leverage this for actual equity in future transactions.
With a clearer understanding of the purpose of branding, it’s time to start strategizing. You may find your business already has some of the key elements needed to develop a brand kit. Or, you may need to revamp outdated brand elements.
Whatever your business needs first, defining a target audience or establishing a brand voice, you need both. Designing a logo and picking a color scheme are just a few steps in defining your brand. Before you can take your branding to the next level, make sure you do the necessary groundwork.
Put your business ahead by planning a clear brand strategy. Hire a consultant if needed or do your research to ensure your business gets the recognition it deserves.
- Why branding matters when starting a restaurant
- What Uber’s resurrection teaches us about adversity as a startup
- 5 successful businesses that launched during the pandemic and are thriving
- Here are some useful tools for a business owner
- your employees will never lose their phone with these 5 products