We all agree that “branding” is important, but why is it important? What is it about a brand that “makes” or “breaks” an organization?
We’re talking about more than just PR here, or how well you’re able to market yourselves in your marketing materials or website. “Branding” goes beyond what you sell. It gets to the root of who you are, and what you represent as a company to your patrons or clients.
Scott Goodson really touches upon the main elements of “branding” when he says, in his Forbes article: “Brands are psychology and science brought together as a promise mark as opposed to a trademark. Products have life cycles. Brands outlive products. Brands convey a uniform quality, credibility and experience. Brands are valuable.”
So, what is branding and why are each of these aspects of branding so important to your company’s growth and success?
Branding is about connotation. How are you perceived in the marketplace: by your customers, fellow business owners, those you consider “rivals” or competition, as well as those potential prospects? One of the marks of great brand strategy is that when you ask any one (or all) of your market segments about your brand, they’;; all immediately know the brand, and (hopefully) get a (good) picture in their head about what the brand represents. How do they perceive the brand? Whether you like (or agree with) their individual perceptions is really beside the point. Branding building involves tapping into those perceptions of your company.
The value proposition of “branding” is real. The value of building your brand is tied to empirical studies. The perception is important, but you also need to know how that perception is affecting your business. Most brands regularly re-evaluate their brand characteristics, identity, portfolio, and positioning. It’s not a one-shot deal. Once you identify how you are perceived in you’ll have real (and actionable) data, upon which to build.
It’s Also Local
Since so much of branding is about the perceived and actual “face” of the organization (how your customers perceive you, and how that perception can get leveraged to increase your business).
Tap into your local market. So, if you’re located in Denver, Colorado, tap into the marketing services in Denver. Tap into the marketing strategy in Denver, and all of that can be accomplished by hiring a local marketing agency in Denver. A focus on branding services in Denver should ensure that you’re focusing your strategy on what your local audience is interested in, and you’re all making yourself known at the “right” local venues.
The local-branding feel goes far beyond just working with and focusing on the needs of your local market. If you’re aware of the psychological and scientific aspects of your branding, you’ll already have a loyal following. They know what you represent, and they will (hopefully) tell everyone they know about the brand. Even huge, national and international organizations started with the “local,'” and it’s often that staying-true-to-the-company-roots that is a mainstay of brand building.
It’s A Promise.
The idea of “authenticity” or a “promise” may seem almost oxymoronical to the business (or corporate) culture. After all, “it’s just business” has long been a phrase we’ve heard in connection with many of the decisions that companies make, particularly when those decisions are difficult (and based on economic necessity). Business is not supposed to be personal, right?
Along with the local connection, your clients want to feel that they can trust you. You want them to feel so loyal to your company that they would recommend your products and services to their grandmother, and feel good about doing it.
Branding is important because it’s about what you represent, how you are perceived in the marketplace, and how you can build your image–to effectively build an even-larger base of loyal customers.
Let us help you build your brand and branding efforts. Contact DBC Digital today.