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Why Every Business Needs a Brand

Posted on August 6th, 2009, 02:08 pm
Filed Under (Branding) by Nicole Lee

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What is a brand? It is a very vague concept and everyone has a different way of defining it. It seems that branding professionals even dance around the subject, since it is hard to put into words. Hopefully, my explanation will help clear it up. When you think of branding, what is the first thing that comes to mind? If you live or work on a farm, a brand is what you burn into a cowhide to identify the animal, but a brand for a company is much more. A brand is many components together that form an identity or trademark for a company or product. Much like the cow, a brand for a company solidifies the company’s identity and sets their services or products apart from the competition.

Components of Branding

• Image: Your image is your logo or visual representation that consumers can see when referring to your company.
• Values: A value system is important and a company should have confident views on subjects, so that families will feel comfortable and trusting when making purchase decisions.
• Personality: Adding human characteristics to a company’s identity and making it more relatable to a specific target market
• Slogan: Not all companies choose a slogan as part of their brand, but it can help deliver the company’s message. A good slogan can be a recognizable feature.

There are many other components that make up a brand, however they may differ based on the needs of the company. Each company strives to create an identity for different reasons and before attempting to create a brand, it is important to determine those needs and follow through accordingly. If this still seems confusing, I will throw an example out there.

Nike is a very well known brand. As a large corporation with enough money for over the top advertising, Nike’s marketing strategies will be very different from those of a small business, but when you break it down, they still follow the same general guidelines. The Nike logo is simple: bold lettering with the swoosh below, but it is not the logo itself that makes the brand, the brand is formed by the recognition of the logo after years of identity building. When either you think of the name, Nike, or the Nike swoosh, you think of athletes, sneakers, or quality athletic equipment, although the company goes beyond that to further their brand. In order to attach the Nike name to those things, they sign contracts and endorsements during sporting events for all kinds of advertising. They make deals to have close ups of the athletes’ shoes displayed during a game so that people can identify a Nike shoe with that athlete, but they don’t just choose any athlete, they choose the best athletes, because only the best would wear their shoes. They do this to demonstrate that they have a superior product that is only worn by the winners. All of these marketing ideas added together are what makes up Nike as a brand.

Establishing a brand requires goals. Advertising and having a target market to choose you or your products over others is only a small part of branding. Branding is about creating an identity for your company name and rising above competition, so that your company is seen as the only company or product to provide what your target market needs. It’s like taking simple advertising a step further and proving that your company is superior, the same way Nike only wants to see their sneakers on the feet of winning players.

Main Goals of Branding

• Deliver a clear message of what your company sells or why your product is superior

• Confirm credibility for your company among your target market

• Make an emotional connection, confirming that your product or service is what people want or need

• Establish loyalty with your users to keep them returning

• Create a valuable reputation to maintain a future in business

• Create motivation in a buyer so that they seek your service or product

The key to good branding is to create a thought or image, not only on paper, but in the minds of consumers. I know when I think of fast food or a hamburger; I think of McDonald’s golden arches and can almost taste a Big Mac. McDonalds is another example of excellent branding. They have been a presence in our lives for so long that most all of us even have childhood memories of McDonald’s birthday parties or hanging out after school in the play place. The company has achieved the memory in the minds of consumers, which makes them return to spend their money there. They have used their arches as their image so that when you see them, you also see their product and it causes those memories to be recalled. McDonalds and Nike are well-established companies and their marketing concepts are different from those of a small business, but their brands are well built up over long periods of time.

A company brand exists within the minds of customers, clients, and prospects. If you were to take your entire marketing strategy and add up all its components together, your brand would be the sum of your efforts. A well-established brand is priceless as companies continue to compete for customers, especially in today’s economy. Building a brand does take time, but the investment is worth it since your identity is what will draw customers and clients. Just like the mark on the cowhide, your brand establishes who you are and sets your identity apart from the others. It is your general foundation for your company and is something you would not want to find yourself without.