What Is Branding? A Simple Definition For Dummies
What is branding? This word is widely used in everyday life, but the truth about it is that many people don’t really know what it means. Some people think that branding is a logo, a name, or even a slogan, but it’s actually more than a combination of all these. By the way, anyone does branding, no matter if she realizes it or not. It’s the image and ‘the feel’ you build in your customers while doing business with them. It’s a very broad thing, including everything that you want to do, or just do unintentionally, in order to effectively market your product or service. The color combinations of a product, the way you treat your customers, the font used on all publications and everything else you do exactly the same way to differentiate your product or service. Branding is creating an image in your customers’ head when they hear about your product. For example, what do you associate the word ‘Volvo’ with? When I hear it, I think about safety, quality, and satisfaction. Yahoo is also a brand, it stands for a big and reliable Internet service provider. When you are working with them, you know that they are reliable, professional and provide quality services – this is their brand.
Once the brand is built, it is an intangible asset and it’s usually the most valuable one for a business. For example, the brand Google is really important for the company. Without it, the business is just a group of people and several thousand servers located in different places around the Earth. This is why this brand is valued at more than $120 billion dollars in the balance sheet of the biggest search engine.
There is nothing more important than familiarity as far as branding goes. You become very familiar with a good brand, such as it happens with the overall presentation of your favorite products. We all have logos and color patterns for products that let us know that this is something we have bought before and we trust. This is a kind of branding excellence that all marketers and business owners, in general, need to achieve, something that will stick to a person to the point that they become very familiar with it.
The personality of your brand and the promise you give the potential client are also things to define if you want to have a successful marketing campaign. It can make your branding strategy more successful. The personality of a brand is basically the kind of attitude of the product. It might be defiant or humorous, perhaps elegant and serious. The promise is simply what you are telling your customers that your product will do for them. Maybe it will only hydrate them, but there is a soft drink that actually made a lot of money thanks to their use of a slogan as simple as “quench your thirst”. You should never underestimate the power of clever advertisement, even if it seems too simple. Sometimes this is the best way to make something successful.
You are also a brand, too! When the people you work with hear your name (your brand), they know that you are a reliable and hard working guy/gal, for example. If they hear about Joe, they know that he is lazy and unfair. This is the brand he built in his colleges. Branding is how people see you, or your products and services.
You can build a brand of yourself, this is called personal branding. For example, if you are really cool IT professional, you can build a brand around this and when you are on an job interview, this can really help you with getting the position. Brad Pit is an example of such a brand – he is an ordinary person like you and me, but he has built a name (brand) that is worth millions.
All these things are essential in order to properly build a solid brand that stands out and helps you sell your product. Branding is a cool way of differentiating your product and asking more money for it, than your competitors.
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