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Understanding Branding and why it's important for your business

Understanding Branding and Why it's Important for Your Business

The word BRAND, is a common term used both in business and in the marketing industry at large. In the real sense, though, a brand is the perspective of a product, organization, or even people. Anything can be a brand, with the right positioning, but a brand is distinguished by its unique attributes, which sets it apart from others.

A brand can also include the distinct experience a consumer has when interacting with your business; it is an effective way to communicate the vision and mission of your business to your audience.

Often used interchangeably, ‘branding’ and ‘brand’ couldn’t be more distinct. Consider Branding as the cooking process, and the brand as the finished meal. Branding is the process of endowing a product, organisation, or even person with the power of a brand. It is the process of researching, creating, and promoting a certain image from the target audience’s perspective. Branding is a key process in building an image; it helps you drive awareness and point-of-sale consideration and further drives the audience’s engagement and connection to your product. It is a strategic process that requires the expertise of professionals such as branding consultants, strategy agencies, and integrated marketing communications agencies, among others.

IS BRANDING THE SAME AS MARKETING?

It’s very easy to mistake branding for marketing, as they are commonly referred to as one, but while marketing and branding are both essential for the brand’s success as they work hand in hand, they are very distinct. Branding is what gives your brand its identity. Marketing includes the processes, tactics, and strategies executed to promote the brand and communicate its identity to the target audience.

MARKETINGBRANDING
1Develops strategies and campaigns that promote the brand and drive sales.Develops the image and identity to be associated with the brand.
2Tells the brand story in relation to the set marketing goals.Tells the brand story as well as the brand’s vision.
3Leverages storytelling to drive actions from the target audience.Leverages active storytelling to build the audience’s trust
4Focuses on the audience’s interaction with the brand in line with the set marketing objectives.Focuses on the audience’s experience and perception of the brand.

WHAT DO I NEED TO BRAND?

Branding is important, especially for businesses, as the brand is the most crucial asset of your business. 
  1. It helps to give your business an identity, as it gives your target audience something to relate to and feel connected to.
  2. It helps to drive top-of-mind awareness for your business.
  3. It increases the target audience’s affinity to patronize your business.
  4. It creates a foundation for all marketing and advertising activities to leverage.
  5. It increases your brand value and drives new uptake for your business.

WHY DO I NEED BRANDING?

The most peddled misconception is that only products require branding. However, everything requires branding. Think of any of the following:

  1. Products
  2. Organisations
  3. Persons
  4. Services
  5. Processes

 

These and more require branding, as there is a need for a distinct image to be associated with them to stand out and become the preferred option among their competitors.