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Why is Branding Even More Relevant For Businesses Today?
Shakespeare had said, “What is in a name?” but when it comes to branding this question becomes rhetorical.
Brand image, which according to a textbook definition, is defined as a marketing technique that creates a name, design, or logo that helps promote the business or a product offered by creating a distinctive image of you in the minds of your targeted audience.
Let’s give a voice to your brand!
Brand value is essentially the consumer attracting power possessed by an organization. They are a set of principles that guide the company and directly or indirectly influence their actions. This is a step towards a brighter future for the business. A strongly branded firm can give it an edge over the competition. A commendable brand value makes it a win-win situation for all stakeholders in the business.
For example, Nike’s brand values are pretty straight forward with its tagline, “Just Do It”. This captures the company’s ideals of heroism and giving inspiration to not just athletes but every individual looking for it.
Get your cash registers ringing!
A known fact is that for long term sustainability, your brand does need a customer base that needs to be blown away.
But, gaining customers right off the bat isn’t easy, is it?
This is where Branding comes in.
A good brand does not have any issues in gaining business via word of mouth. Good branding and positioning generally implies that the business is viewed in an optimistic light by the audience.
A good example of branding to attain customers is ‘Apple Inc.’ Looking at their expensive price points compared to those of its competitors, Apple shouldn’t be as successful as it currently is but their rigorous branding efforts have created a loyal customer base for them.
What is in it for your team?
To win in the marketplace, you must first win at the workplace.
You want your team to be a World Cup-winning squad of ‘83 but is it easy to get the leadership of Kapil Dev and the flair of Gavaskar playing on your side?
A good brand identity can attract talents that are going to be beneficial in the long run.
Now that is a classic win-win situation for everyone right?
Now everything in life has a price. Well, not really! That is a diplomatic belief but in marketing, we have a different approach.
Branding may sound like a lot of effort, but for the number of benefits that tag along it is an effort worth taking!
So how do we go about making a branding campaign that is best for YOU?
So are you convinced that you need the branding to grow your business?
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