What is Branding?
Every good business large or small starts with a good brand. But what does branding really mean?
Branding is the bread and butter of a business. It has literal components such as the name, logo and style but it's also feeling you get from the brand, the emotional connection.
Why is Branding So Important?
The simple way to put it is that branding helps to create and strengthen the personality of your business and most importantly it's gives you a major edge against your competitors.
Branding makes a memorable impression on your audience and allows your customers and clients to know what to expect from your business.
◼︎ Builds brand awareness
Consistent branding makes it 3 to 4 times more likely to achieve brand visibility. It takes between 5 to 7 brand impressions before someone will remember you.
◼︎ Increases customer loyalty
Customers who have consistently positive, quality interactions with a company are more likely to remain loyal.
◼︎ Improves company image or reputation
64% of consumers cite shared values as the primary reason they have a relationship with a brand.
◼︎ Gives the marketplace a relatable identity
48% of consumers expect brands to relate to them and present products or services that fit their needs.
◼︎ Boosts profits
Consistent branding brings an average revenue increase of 33%.
◼︎ Promotes company growth
All of the benefits created by branding are critical to company growth.
How to Create a Great Brand
It may come as a surprise that, as a small business owner, creating a big brand doesn’t have to cost an arm and a leg. First, define your brand.
How do you want your business to be perceived by customers and prospects? What is your company’s mission and how will people benefit from your products or services?
Once you have that decided, start incorporating it into everything that you do.
Create a logo
Create a logo and put it everywhere (website, social profiles, marketing materials, products, etc). The small business Peter Alexander has a super simple yet fun and memorable logo.
Develop “voice” and messaging
Do you want to come off as conversational and informal, educational, luxurious? This is your voice. Apply it in every written communication and ensure your team speaks the language. Frank Body is a fantastic example of a small business that ensures its voice and brand messaging are consistent.
Design your look
Create a color scheme and overall look and feel to incorporate through everything you do. Again, your brand doesn’t have to look like you’ve spent gobs of money to be memorable. Take Glossier for example. The design is not flashy. Instead it is minimal with a customer-centric approach.
Your brand is your business’s identity, so it is imperative that you be consistent. From customer service, to sales, to any type of creative outputs - your company, its values, and what it represents should be clear for all to see.