When someone sees your company logo or hears you company name, do they immediately think of your products and services? Effective branding is a key element to maximizing your marketing and advertising dollars. The best examples of branding are companies like Xerox, Coke, and Jello that have made their name synonymous with their entire product category.
What is the goal of branding and why is it important? In today’s world it seems like there are less than 24 hours in each day. You only have a few moments of a potential customers time and making the most of it is essential to your business success. The key is association. Your goal is to have people immediately connect or identify your product or service when they are looking for a product or service in your category. Some ads or commercials form a lasting impression; however, when we try to remember what product they represent, we are lost. Do not make an impression without the connection.
How do we create a brand? Brands are about identity and recognition. The first question must be who is your audience. If you are marketing to degreed engineers, your tag line might be vastly different than if your target audience is high school students. Most of all, it has to genuinely represent your business and your goals.
Is there a branding formula? In short, no. Branding is unique by definition, and therefore, each time must be created. The dominant factors are a function of the market (customers), the business, the business climate, and the competition.
Is a brand forever? It depends on the market. The goal of branding is to drive business. Some of the brands that we mentioned at the top, such as Coke, have great longevity. However, even these companies make updates and tweaks as the market reacts to changing times, attitudes, and competition.
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