A brand is an important asset of your business. Its value to your business in general and to your marketing success grows over time. Digital marketing can build your brand better compared to traditional or offline marketing.
What is a brand and branding?
A brand is a distinguishable mark, character, name, word(s), logo, and/or other visible features used by persons or organizations that differentiate their product or service from others.
A brand is used by businesses to set apart their products from competitors. It signifies what makes them different and what to expect from them that competitors don’t have. It represents a company’s promise to its customers.
On a deeper level, a brand is the representation of everything that a company stands for and how it relates to its customers.
Branding is the process of creating and building a brand. Its goal is to establish a distinct positive perception of a company’s product/service in the mind of its target customers.
What are the elements of a brand?
The major elements of a brand include its identity, personality, promise, and experience.
A brand’s identity is composed of its visual elements like its name, logo, color, font, and associated words.
A brand’s personality is the human trait attributed to a brand with which its customers can emotionally relate to and which can evoke positive response toward its product/service. Customers will likely patronize a brand with a personality similar to theirs. A brand symbolizing ruggedness will attract customers who are fond of sports, adventures, or outdoor life.
A brand’s promise are the product/service benefits that a company is bound and compelled to deliver to its customers. It is a commitment from the company that it will deliver the benefits as expected by its customers.
Brand experience refers to the impression created among customers when they encounter the brand in all its touch points – virtual, physical, and personal – from a brand’s online communication, physical experience with the product/service, and actual personal interaction with the brand representatives.
How do you build a good brand?
You build a good brand through branding. We have briefly discussed the meaning and goal of branding above.
You do branding by executing the following fundamental steps:
Understand thoroughly your target market
As in many marketing functions, we start with the target market. What are their needs, problems, pain points, interests, preferences, and behavior?
Know how you want your target market to perceive your business as you address their needs.
Do you offer high-quality solutions to their problems, competitive pricing, prompt support, convenience, accessibility, pleasant customer experience?
Establish your brand personality
Your brand personality should reflect the personality of your ideal customers.
It should also embody the ideal qualities perceived by your target customers for a business that favorably addresses their needs/problems.
Create your brand identity
You may need the inputs of an artist or graphic designer to appropriately manifest your brand personality through your logo, font, and color. You also need to be a good copywriter to create appropriate words that will convey your brand’s message.
Craft your brand promise
What do you commit to deliver consistently to your target market – good quality, competitive pricing, convenience, readily available support? You should not fail to deliver on your brand promise.
The overall impact of branding results in the full perception and total customer experience with your brand. A positive perception and pleasant experience result in brand loyalty.
Loyalty to your brand creates favorable effects not only on your existing product/service but also on other allied or future product/service you introduce in the market.
How does digital marketing build brand better?
Digital marketing can project your brand to your target market faster and on a much broader front.
Your brand personality, identity, and promise can be communicated faster in real time through various online channels. Your website content, blog, social media post, newsletter, and online ads can reach your target market instantly and on a 24/7 basis. It can transcend geographical boundaries to reach a bigger and more diverse market.
Digital marketing should be a major component of your overall brand strategy.
Why is brand important to your business?
A brand is not only crucially important to your marketing success but also considered as a financial asset of your business that grows over time.
Your brand differentiates your product/service as well as your business organization from others in a manner that is perceived to be functionally better and that establishes an emotional connection with your loyal customers.
Considered as non-tangible assets by accountants, your brand is treated as business equity that grows in value as your business grows. For many companies and yours, a strong brand is the most important corporate asset. The monetary value attributed to your brand largely determine the marketing budgets and other investments to further grow it. The strategic marketing plan revolves around your brand.
Brands are legally protected as intellectual properties.
Building a strong brand is synonymous to building a successful business. Digital marketing can help you build your brand faster and on a bigger scale.
We welcome your questions, comments, and/or suggestions. For more details on how digital marketing can empower your business, please check it out here.