The Art and Science of Branding
Branding is simply the act of creating all the elements that come together to make up a brand. A brand consists of assets such as a logo, design, mission statement, and a consistent message throughout all your marketing communications. The result should be a clear and positive perception of your company.
Effective branding will help your company differentiate itself from competitors while building a loyal customer base.
What Is Branding?
Branding is developing an identity that combines brand elements to uniquely represent an entity, product, or service.
The Importance of Branding
A well-crafted, compelling brand that uses a calculated approach will have a significant impact on your company’s bottom line. Good branding is strategic, with clear objectives, and defines your promise to customers. A brand is both internal and external. It is critical for stakeholders and the general public to have a sound understanding of your company’s position.
Types of branding:
- Corporate
Everything a company does, for example, the products they sell or how they treat their employees, directly impacts its brand reputation, which affects pricing and strategy.
- Product
Overall consistent look and feel to ensure your brand recognition.
- Service
This is more about creating trust between your brand and the customer.
- Personal
Growing an individual’s footprint, creating a personal brand that aligns with that person’s mantra and interests.
- Cultural
A brand that is also considered a lifestyle. It is all about the consumer experience.
Foundational Elements That Comprise a Brand
Branding is more than just a fancy logo or tagline. Below is a list of the brand building blocks that will ensure your products and services live in the hearts and minds of your customers.
- Logo Design
- Tagline
- Brand Colors
- Brand Voice
- Brand Reputation
- Brand Culture
- Marketing Collateral
- Content Development
- Social Media Content
- Customer Service
- Customer Experience
- Internal Policies & Culture
- Public Relations
Reasons for Branding
Beyond the economic significance, there are many reasons why branding is vital to your business. A strong brand facilitates trust and improves recognition. The better the experience with a brand, the more loyal a consumer will be and likely to share that experience with others.
The values your brand communicates also impacts your company internally. It can motivate employees to go above and beyond what is expected of them. It can boost morale and create a fun and healthy work environment. Your brand will grow and evolve as your company grows. It is a great way to showcase your organization’s strategy and focus, so everyone is on the same page and working towards the same goals.
How to Measure Branding
Also known as brand awareness, there are many ways to measure if your brand has made an impression on your clients/customers. Surveys are the most direct way to determine if your customer is familiar with your brand and at what level of loyalty. A company can conduct surveys via email, website, or phone.
It seems obvious, but another way to measure your brand awareness is to look at website traffic, sales, and revenue. These are particularly valuable KPIs when updating an old brand or repositioning a brand. When done successfully, there should be a point of demarcation indicating the timing of the brand shift. Newly launched brands can measure acceptance and adoption, but there is no historical data to gauge effectiveness. Typically, a new brand can use similar industry models for reference.
Put Peabody’s Branding Expertise to Work for You
We specialize in custom branding. We will personalize a branding strategy that represents your message and promise to your customers.