What Is Branding & Why Is It Important?

Everything that we know of a product or business is because of branding. Branding is the link that connects a business to the consumer. For example, if you’re driving and see a billboard with a yellow M, you know it’s McDonald’s or if you’re watching TV and see a blue F, you know it’s Facebook. We know these logos because these businesses have used branding in order for us to recognize their logos and for them to stand out for their competitors. So why is branding important for YOUR business?

Recognition

There are millions of entrepreneurs and small businesses which makes it hard for them to stand out from the rest. However, with a good logo or a catchy slogan that makes your business stand out from your competitors, your business will have an impact on consumers by having them recognize your logo, slogan, jingle, etc which then leads them to make purchases since they already have an idea of what your business is about or it’s value.

However, keep in mind that your logo, slogan, etc need to have a meaning behind it and needs to make sense to your niche market. A good brand that has a clear purpose will not only stand out from the other brands in their industry, but consumers will choose them because of their brand. For example, many people tend to choose Apple for phones, laptops, tablets, etc because of their brand’s reputation, the clean look of their products, and what they stand for.

Trust

If your best friend or a stranger both asked you to borrow $5, who would you give it to? Obviously your best friend right? Why? Because you know them, you recognize them, and you trust them. Well, the same thing applies to brands.

You’d rather choose a brand who you’ve shopped with before and had a great experience with rather than a brand who you’ve never seen, heard of, or trust, which is why you’ll give your money to the brand who you are familiar with. Branding encourages a positive image of a brand which represents its credibility and trust. This is why consumers would rather purchase a product/service from a brand that they know is legitimate and trustworthy. So back to the Apple reference; Apple launches new phones almost every year and people are willing to wait long hours in line just to purchase a new phone because they trust Apple’s products to work well, look beautiful, and because of their reputation.

Advertising

Advertising and branding go hand in hand because you send out messages to your customers to see and/or hear about your brand in order for them to keep your brand in mind. An example of poor branding is Microsoft and their Zune. (Never heard of the Zune? Our point has been proven)

The Zune was pretty much Microsoft’s version of the iPod and due to poor advertising, they never made much money off of it. They advertised its ability for the users to share music with each other wirelessly and as much as people love to share music with each other, they weren’t interested in standing around and waiting for music to be exchanged. Instead, people want the ability to able to listen to music wherever they are. This is why the Zune wasn’t really what people were looking for in an mp3 and due to the incorrect branding and advertising, it lead to the demise of the Zune.

On the other hand, Apple and their iPod is a great example of successful advertising and branding. Taking you back to 2001, Steve jobs advertised the first iPod as a device that “ holds 1,000 songs and it goes right in your pocket”. Is that beautiful advertising or what?! And that’s exactly why Apple was successful at promoting their mp3 than Microsoft. People want simple and fast advertising that gets straight to the point and Apple are geniuses at that.

Are you ready to build your brand? Get in touch with Beyond Media Solutions! Our experts will set a strategic plan in order for effective and successful brand awareness. FREE 30-min evaluations are available!