The failure to differentiate between a company’s brand and its branding is a common yet costly error that can seriously affect its growth and profitability. Many advertising agencies need a more precise grasp of the scenario, which only complicates matters. Because it’s what the customer wants, there’s sometimes a rush to the branding phase before a solid brand identity has been developed.
Having a distinct, easily-understood brand in place is essential before any attempt at branding can be made, and this is something that business owners and marketers must always keep in mind.
If you cannot properly describe your brand, it will be difficult for others to build successful branding that reflects it.
Businesses can only sometimes articulate their brand in a manner easily understood by their staff, their customers, and any creative agency with which they may be collaborating. This is when issues arise, as the tale, and thus its effectiveness becomes diluted due to a lack of knowledge of the company’s mission.
There are a variety of factors to consider while defining your brand. And it is essential to go through this thought process before beginning branding work.
What’s the Difference Between Branding and Brand Identity?
A company’s brand can be considered its personality; it allows customers to recognize the company and tell it apart from other competitors in the industry. What your company stands for and how the general public views your company is what is referred to as its brand. A reputable and successful brand can facilitate the development of trust with prospective customers and inspire loyalty in existing customers.
On the other hand, branding is how a firm conveys its name, values, and Unique Selling Proposition to consumers (USP). Everything a company does, from the naming of its goods to how it handles customer care calls to the color palette it chooses for its website, is part of its branding.
Why is Branding Important?
Here are three fundamental reasons for branding:
Branding increases awareness
Branding helps boost brand recognition through visual identity design, messaging, customer experience, advertising, and more. A brand is more identifiable when its branding is consistent across all mediums.
Branding fosters client loyalty.
People aren’t loyal to a product or service; they’re loyal to the brand that sells it. Customers will be loyal to a company that clearly conveys its promise and consistently delivers on it over time.
Branding distinguishes your business
If, for example, all running shoes were unbranded, there would be no rivalry. But when branding is implemented, you are making a promise through the product’s visual identity design, copy-writing, quality, values, etc., which helps differentiate you from the competitors.
Understanding the distinction between brands and branding enables you to create a stronger brand, as you will be more invested in brand creation. Your comprehension also assists your staff in comprehending the complete significance of the brand, allowing them to learn how to utilize it most effectively for marketing, sales, and supporting your goals and initiatives.