Branding Part 1

The Basics

Branding is a fairly simple way to increase public awareness of your business and to also build a familiarity to your clients and potential clients.

It is very important to build your brand carefully because a well-built brand is worth more to your business than most people realize. Your brand can bring in customers or it can drive them away and in the future, should you choose to sell your business, a well-build brand will be worth more in actual dollars than all tangible assets put together.

The American Marketing Association defines a brand as a “name, term, design, symbol, or any other feature that identifies one seller’s good or service as distinct from those of other sellers”.
The word brand has continued to evolve so that is now encompasses identity, which means it affects the personality of a product, company or service. It is defined by a perception—whether it good or bad—that customers or potential customers have about you and your business.

Brand Awareness

Brand awareness refers to a customer’s ability to recognize and recall the brand under various conditions and make the connection to the brand name, logo, jingles, etc. It also consists of brand recognition and brand recall. It also helps customers to understand which product or service the particular brand belongs to and what products and services are sold under that particular brand name.

Local Brand

A brand that is sold and marketing to one specific and restricted geographical area is considered to be a local brand. It could be considered a regional brand, if the area encompasses more than one metropolitan area and both the local and regional brand could be a brand developed for one specific market.

According to Blogtrepreneur.com, there are "10 Reasons Every Small Business Needs to Brand with a Logo"

1. Convey that you’re well established
You can show that you’re committed to your clients and your business with a logo and professionally printed materials. Taking this step can also convey the appearance that you’re stable and have been around for some time.

2. Catch the attention of more potential customers
The saying, “Never judge a book by its cover” has been around forever, but the fact remains that people continue to judge things based on appearance. Finding a company that has the right look and feel to it, whether conscious or sub-conscious, can often be one of a person’s criteria in making purchasing decisions. Some people may even feel wowed by your professional looking materials and logo to the point that it impresses them into buying.

3. Increase your integrity and credibility
A good-looking logo can give you an appearance of being experienced and professional. It can also help a lot by making your entire business appear more credible. Establishing this type of credibility is one of the first things you need to do to be known as an expert in your field.

4. Make a memorable impression
Studies show that 40% of people remember what they see more easily than what they read or hear. Creating graphics that associate a memorable image with your company, and having consistent graphics on all business materials, will make you much more likely to be at the top of potential customers’ minds, when a need for your products or services arises.

5. Help you stand out in your field
When paired with a strong marketing program, well-designed logos and identity programs can give you the edge that will set you apart from your competition.

6. Give the appearance of being professional
Business cards printed at home, with jagged edges and smeared ink, don’t exactly give a person a “big-time” appearance. If you appear cheap and inexperienced, that is exactly how you will be compensated by your clients.

7. Brand your business
You need a logo so you can build an image and a brand that’s bigger than your individual identity. Remember: the purpose of a logo is to create a brand for your company that’s recognizable and consistent across all marketing channels.

8. Offer your customers a sense of stability
While you might not have been in business for yourself for decades, if you’ve made an investment in an identity, your customers will see you as far more stable. It can really go a long way toward creating a feeling of stability and trust.

9. Communicate your message
A good logo design can contain many understated meanings, and can help to communicate a message about how you conduct business. This can include any features or benefits that set you apart from your competitors.

10. Meet expectations
In many areas of business, a logo is simply expected. Especially in industries like design or other creative services, having a fantastic logo is considered an industry standard.
In addition to the above reasons, having a great logo that you’re happy with and proud of will increase your confidence – not only in your business, but in yourself too. It will show through in all of your business practices and interactions, and will benefit you more than you might even realize. So if you don’t already have a logo, start thinking about developing one, along with a brandable identity, right away. And if you happen to have an existing logo, reexamine it. Are you still happy with it, or could it use a make-over?

Check back for part 2, where I'll be talking about more about how to brand your business and what Event Elements & Business Solutions can do for your busines.