Branding in just a few words…
Yes, really! It can be that simple. First impression, then Emotional response.
Branding is the process of giving meaning to a specific organization, company, product or service by creating and shaping a brand in consumers’ minds.
It is about identity (what you are), standing for something (what you believe in) and being something (what you do). Branding is also about creating an emotional response with customers.
Branding helps companies to differentiate their products from those of competitors. A strong brand can create an emotional bond with consumers, which leads them to feel more loyal towards that particular company or product than other similar ones.
Why is Branding so important
Branding is important because it makes a memorable impression on consumers and clarifies what it is you offer that makes you the better choice. It allows your customers and clients to know what to expect from your company.
A brand is a promise of value, satisfaction, and quality. In other words, a brand is what makes people choose one product over another. That’s what branding is all about—differentiating yourself from the competition so you can stand out from the crowd!
The best part about branding? You don’t have to spend millions of dollars on advertising or print ads in magazines or newspapers! All you need is a good logo and some catchy slogans (that are relevant to your business) for your website and social media accounts—and voila! You’ve got yourself an awesome brand!
Why do brands fail?
There are a few ways a brand can fail. The first is when the product can’t realize the required market share to sustain its presence in the market. The second is when the product can’t achieve the anticipated life cycle as defined by the organization due to any reason. And lastly, if your product isn’t profitable, you’re in trouble.
But why do brands fail? What can we do to prevent it from happening? There are many reasons why brands fail, but they all have one thing in common: they don’t listen to their customers. If you want your brand to succeed, then you need to listen to what your customers want and need from you. You need to know what they like about your company and what could be improved so that you can make sure they’re happy with their purchase every time they buy something from you!
Examples of Brand failures.
It’s always a good idea to learn from the mistakes of others.
Why? Because it can help you keep your own company from making them.
Here are two examples that were once industry leaders and innovators but lost their footing
Kodak – Kodak is a technology company that dominated the photographic film market during most of the 20th century. When digital cameras became popular in the 1990s, Kodak had trouble making the shift and eventually filed for bankruptcy protection in 2012 after losing $10 billion over five years.
Nokia – Nokia was once one of the world’s largest mobile phone manufacturers but fell victim to competition from Apple and Samsung as well as its own poor decision-making when it came to new product releases (like its high-end Lumia line). In 2016, Microsoft bought Nokia’s devices division for $7 billion but later sold it back in 2017 for just $350 million because they weren’t making enough money off sales numbers alone–even though this
How to Develop a Unique & Memorable Brand
Developing a brand identity requires more than creating a logo. Although a logo can be the symbol of a business, it is not the entirety of a brand. In fact, creating a logo is just one small step toward developing a strong brand identity.
A brand identity is made up of all of the elements that work together to create an overall impression of your company and products or services. It includes many components, such as:
-Logo
-Colour scheme
-Tagline or slogan
-Product packaging design
-Branding guidelines for employees (employee manual)
-Social media page design
The brand identity includes the personality and characteristics of your business—how you want people to perceive it. These characteristics are communicated to potential customers through your marketing efforts (print ads, social media posts) and interactions with customers (phone calls or emails).
The goal of developing a brand identity is to create something different from other companies in your industry, but still recognizable as part of that industry. This means you should think about what makes you unique from others who offer similar products or services. Then think about how you want people to perceive you as an organization.
The best way to develop a unique and memorable brand is by being authentic! Focus on what makes your company special and differentiates it from competitors—and then use this information when designing everything from logos to website navigation menus!
A strong brand identity means that your customers will be able to spot you from across the room and instantly recognize your products or services as being yours. It also means that they will have an idea of what to expect from you every time they interact with your company—whether through your website, in person or on social media.
Creating this type of connection with customers takes time and effort but can be done with these five steps:
- Define Your Brand’s Purpose
- Create A Visual Identity For Your Brand
- Identify Your Target Audience And Niche Market
- Reach Out To Potential Customers Through Social Media Platforms And Other Marketing Techniques
- Stay Consistent With Your Message To Build Trust And Loyalty
How to Monitor your brand to maintain its brand identity.
You’ve worked hard to build your brand identity, and now you want to make sure it’s being maintained. Monitoring your brand is an important part of maintaining your identity and keeping it on track.
Here are a few things you can do to monitor your brand:
-Use Google Analytics to track how visitors navigate through your website and what they do when they get there. This will give you insight into what content is most popular with visitors, which can help guide future content creation efforts.
-Survey customers about their experiences with your product or service, as well as any complaints or concerns they have about your brand. Surveys are an efficient way to collect feedback from a large number of people in a short period, which gives you insight into how people perceive your brand at any given moment in time.
-Look at comments left by customers on social media posts related to your company or product line; these comments can help identify problems or concerns that may not have been brought up during the survey process outlined above. You’ll also see if there are any consistent themes among different groups of customers (e.g., one group might be complaining about pricing, but another group isn’t).
In summary of Branding
In just a few words… First impression, then Emotional response.