A lot of entrepreneurs underestimate the importance of branding, how it helps elevate your business - in both financial and reputation aspects. Try thinking about your favorite company. You’ll most likely remember the image they’ve established, their story is more important.
A customer won’t remember the revenue you managed to achieve last year - it’s the product, the emotions attached to it. A “branded” business has the potential to have a personal connection with its consumers.
The overall brand identity of your business will be remembered for ages - logos, content, design, messages, etc.
And it’s not just assumptions. KPMG once conducted a series of studies to show that customers go back and forth between the brands they trust. If your startup has a well-respected name, people talk about it, it’s a cultural sensation - obviously, more customers will sign up.
It’s basic psychology, to be honest. No one would bother considering a business when there are so many established options, especially these days - the internet has taken over.
To stand out, focus on the business’s identity, what it represents. Luckily, you’re at the right place - keep reading and eventually learn major details about branding.
Why Branding Matters So Much - Let’s Take a Look
Ok, we have talked about the importance of branding. Now, let’s dive a bit deeper to build a unique perspective, utilize branding to the max. That’s the key.
And remember, people will have an opinion of your company anyway. It’s pretty plain and bitter - either good or bad. It’s up to you how you use the right branding strategy and put in the right word. Warren Buffett believes so:
“It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.”
Don’t worry though, you’ll get the hang of it. Here are a few positive points.
It’s important to highlight that as a small business, you need to have a lot of connections in the industry too. Be it for partnerships, investment deals, or just having a reputation. With proper branding, your startup leverages itself in the market. Companies start talking.
Who knows, a top-tier company might want to collaborate after getting impressed by the brand. Point is, branding is an asset, it generates revenue and leads to business growth in the long run. Top brands like Walmart communicate the voice of it’s brand through their overall marketing strategy. It has created a sense of feeling that if you are shopping from Walmart, you are always saving on every product you purchase.
Employee Satisfaction and People Actively Wanting to Work
Is there a company you heard about in college? Everyone wanted to apply there? That basically is a product of “great” branding. And once someone got employed, a moment of pride. That’s the level you need to achieve.
The idea of the perfect company to work at is the same for most. Judgments are made based on the benefits, the goal, the environment, and most importantly - how well connected do the employees feel.
If your team personally resonates with the brand image, they’ll further push the agenda around their circle. And, their dealings with clients will be even more genuine and personal.
Lifelong and New Customers
There’s a long heated discourse in marketing forums over what customers “actually” value. Is it the price tag? Or the personal sentiments attached with the brand? We think a bit of both. In the end, it depends on the customer's choice and their view of your company.
Let’s assume you get a following that deems your brand worthy enough and cherishes everything about it. They’re going to be here for long and will even act as referrals. A win-win situation. Word of mouth is such an underrated advertising technique and best of all, it is cost-effective.
Establishing a brand sounds good when we’re assuming a customer’s role - but the strategy you pick from here is the most essential part.
What brands always fail to realize is that - one wrong step and lasting impressions have been made. It’s difficult to overcome it. We recommend having a fully-fledged plan, an outline of what to do. Let us explain.
Why Seek a Brand Agency?
You might already be overwhelmed by the information we've presented but here's the point – there are brand agencies out there who are willing to look over your entire business. You are not alone.
Even if you're at the beginner stage, heck, start from scratch by presenting your case at any agency.
And it's also "ok" if you don't know what your brand's voice is supposed to be like. If you don't have a mission statement in mind. Brand agencies are supposed to look after every subtle detail.
Luckily… Now introducing…
Think Orion! Yes, as a digital marketing agency, we help brands accelerate to the next levels.
We understand how different marketing and branding can be. For both, our team has different plans and we know how they align together. Rest assured, our branding services are up to the mark.
Get an up close look at the services we offer - book a free session with us.
Anyway, before consulting an agency, find out what you're looking for.
Every business will need a unique approach, it's important to acknowledge the types of branding services out there.
Common Branding Services
Before anything else, branding is storytelling. It's simple. Building identities, relating with the customer, using relevant wordings… it all comes second.
You need to search for an agency that emphasizes storytelling more than the business aspect – however – knowing how to generate revenue out of a story is just as relevant. So, here are a few tips, reflect on yourself… and maybe consult an agent.
Name of the Brand
This is the tricky part. Don’t be too hesitant on yourself, the name doesn’t have to necessarily explain the nature of your business… Nike didn’t. But be creative. The name should ignite a feeling, let it be memorable.
Stats show that over 72% of brand names are either made-up or consist of acronyms, yet most people don’t look at the name initially. As your brand scales up, the name becomes a signature one itself. Uh, simple tips for a name: it should be easy to read, pronounce, and spell.
Logo and Overall Design
Visuals impress. No second thought about it. Your brand's logo and aesthetics will define everything - quality, values, ownership, etc.
Design is very subjective – find out what appeals to your audience. But don't undervalue its importance, visual cues create the best "instant" stories.
At first glimpse, consumers will judge your brand over its logo, social media, or website. And at every step, the company's design will speak for you - be it a meeting or a conference.
So, choose your brand’s aesthetic very well. Every minor detail has a major effect - typography, language, layouts, and even the color schemes (main point, yikes) you adapt.
In business terms, a good enough design can help establish the brand’s identity and raise awareness. Whereas the name can be used to just strike a point.
For example: KFC is famously known for its success story, how the founder never gave up and eventually created the “fried chicken” company. The logo always reminds customers of its humble beginnings. But, what if… the logo had been a fried chicken? If the logo was limited to just the name "KFC"?
KFC’s brand management team was clever enough to always put Colonel Sanders at the forefront. They knew that he’s the main character, the driving factor. After all these years, KFC still hasn't changed its core identity, they know the audience cherishes it.
When we mentioned storytelling, we really meant it. When we go through history, it’s always the brands who have made their mark via subtle details - they have stood out from the masses.
Highlighting The Brand's Message and Position
This is your chance to stand out. After the name and the design, look over other aspects – taglines, slogans, descriptions, etc.
Figure out what the brand entails? How's your service any different? How can it be creative yet lucrative? Once you figure out how to stand out - it’ll be easy for both you and any brand agency to curate the “perfect” strategy.
Remember, spreading a statement and establishing a "name" in the market requires proper market research and consumer behavior analysis. The right digital agency will go through past trends, look over competitors, find case studies, and then might come to a conclusive plan.
Looking After Social Media
At this point, you might have a somewhat idea of how your brand is going to look like - channel it across all social media platforms.
Um, just make sure that you stay true to the original goal. Businesses often want to go along the “algorithm” - they end up changing their entire brand voice for the sake of better engagement.
Branding an entire company takes a long time, it is a gradual process, you will need to stay dedicated. Be patient.
And interestingly, a fact about brand management is… it’s not maths, you can’t calculate much.
The key is to be authentic and go with the flow. See what works best for you, how your audience perceives it. It’s different for everyone. If you look at it, even Coca-Cola and Pepsi had separate branding journeys.