Welcome people! Let’s talk a tidbit about branding today!! If you really are or want to be an entrepreneur this is a phrase you can’t escape. Working on your brand is really just what will differentiate you from your competitors. As an entrepreneur working on your brand is as important as working on the product itself. You may have a great product, but a poor work on your branding will not promote you in the market. So I guess the right question is, “what is a branding and why do I need it?”
WHAT IS A BRAND?
The American Marketing Association defines it thus:
“A brand is a name, term, design, symbol, or any other feature that identifies one seller’s good or service as distinct from those of other sellers.”
In other words your logo, name and advert are the things that create your brand and demarcate your good or services from others.
A brand can also be defined as the perception or picture a consumer has each time they think of a company’s name, services or products e.g. Coca cola, Pepsi, Guinness and Apple.
WHAT DOES A BRAND DO?
When you create your brand, it Sell your story:
I wrote “sell your story” and not “tell your story” because everyone can tell a story but not everyone can sell their story. Your brand should not only be something people can see, it should be something consumers can connect to. They should feel the chemistry at the moment they see it. It should have the feel of a first time conversation between two people that has worked out so well, that feels as if they have known each other for a very long time. That way you can easily attract your consumers.
When you create your brand, it gives an invitation:
Your brand should be inviting, attractive and easy to retain. Here, there is a degree of psychology that plays. You should be wise in picking you colours e.g bright colours are more attractive than darker colours. Your brand has to intrigue people to want to try it, thus sending an invitation.
When you create your brand, you take on a journey/fulfill a promise:
Your brand has to grow along with your consumers. It has the difficult task of not only making promises but also keeping them. You brand must deliver as the needs of the consumers grow. You must remember that you not only have to obtain loyalty and but keep the loyalty of the consumers as well. Consistency and innovation in these case will keep you brand in the imprint of your consumers’ hearts.
Create a brand that ensures a purchase:
Your brand has the primary objective not only to attract consumers but compel them to make purchases of your product. Branding is also aimed at making profit for the company that creates it. Create your brand in such a way that people eventually consume your product or use your service.
Create a brand that solves a problem:
No one cares about a brand that they don’t need, that’s why your brand needs to be solving a problem. You must work on branding; a problem solving product or service.
WHY SHOULD I CREATE A BRAND?
We have already seen why branding is important , but you have to note the following points:
- To differentiate your products and services from that of your competitors, you need to create a brand.
- To understand your business objectives, when developing your strategic business plan, you need to create a brand.
HOW CAN I BRAND MYSELF?
Create a visual identity of the brand:
Here I just mean stuff like a logo, website and colours like I earlier mentioned.
Funny enough the price of your good can create a brand e.g. Parle-G biscuit is only sold at FCFA 25 and FCFA 50 in Cameroon. That’s branding.
Sponsorship and partnerships:
Some companies are known for sponsoring and partnering in all sorts of reality shows, football activities and much more e.g. DSTV. This is another form of branding.
How often consumers are used to seeing your products displayed in stores can also create a great brand.
Product and packaging design:
This may have much more to do with the difference in size, shape and colour of your product.
Advertising and communication:
Some companies have specific songs and slogans, they use in every advert or means of communication e.g. MTN –“everywhere you go.”
There you go friends, all you need to know about branding. Starting up your business on the right foot make sure, you brand yourself.