The importance of branding to a business cannot be overemphasized. Branding summarizes in a holistic manner what the business is about. A well established brand for an organization gives it a major edge in its competitive market industry. What your business produce or offer has everything to do with branding. Your brand is derived from who you are, who you want to be and who people perceive you to be. It is a direct image of your company and what it stands for, itseparate your product and services from your competitors.
A good brand seeks to address what the general public thinks about the company or business. its target market, quality of products or services, value appreciation by customers and providing solutions etc. brand may be an intangible asset(Goodwill), but it is always reflected by what is known as “Logo”. A logo to a company is the identity of what the business entails. At a glance of your logo, it should send a signal to the customer what your business is, in relation to value, quality and trust.
Examples are: when you see the logo of Coca-cola……enjoy the great taste, Apple…..Think different, CNN…..Go there, Toyota……Let’s go places, to say the least.
Essence of Branding to your business
A well-established business, be it a service or product oriented will do well with a well-designed and planned branding. Branding creates awareness and distinction for your services rendered or products created or manufactured with the following features:
Quality: the quality of product or services you produce and render is always embedded in your business branding; it sends a clear message to consumers, detail information of what your products are and what they should expect. Your unique selling proposition should always stands out in respect to you and your brand.
Competition: competition is healthy for every industry as it drives innovation born out of the determination to succeed. A good branding system should stand out your business among its competitors. It also makes it a leader in the industry which in turn will always generate an unusual turnover thereby resulting in profit.
Equity: this is important to every business to keep it afloat. A strategic branding will sure boost the capital ownership of any business. This enables the company to evaluate its products and services in relation to consumer’s desire for it. Brand equity increases the financial liquidity ratio of the company, this means the added value brought to your company’s products or services that allows you to charge more for your brand than what identical, unbranded products command.
A good brand delivers on its promise what it says to achieve and it’s always accompanied by consistency of product and service quality, companies that are professionally and corporately branded are leaders in their industry today determining the direction of the market. Is your business or corporate entity mindful of its brand system? Is it strategically positioned towards commanding leadership in its industry?
Adams Amana is a business consultant and a freelance writer who have helped many businesses with strategic branding towards growth. He can be reached at www.cash4wealthng.com.