Branding

Almost every business has a trading name, from the smallest market trader to the largest multi-national corporation. Only a minority of those businesses however, have what could be classed as a ‘brand’ or a ‘brand name’. Branding is a word commonly referred to by advertisers and marketing people, but what does it actually mean, how can you get it, and most importantly; how will it benefit your business?

WHAT IS BRANDING?

A well-known brand is generally regarded as one that people will recognise, often even if they do not know about the company or its products/services. These are usually the  businesses name or the name of a product, although it can also include the name of a feature or style of a product.

The overall ‘branding’ of a company or product can also stretch to a logo, symbol, or even design features (E.g.: Regularly used colours or layouts, such as red and white for Coca Cola.) that identify the company or its products/services.

For example: The Nike brand name is known throughout the world, people can identify the name and logo even if they have never bought any of their products.

However, not only is the company name a brand, but the logo (The ‘tick’ symbol) is also a strong piece of branding in its own right. The majority of people that are aware of the company can also identify it (or its products) from this symbol alone.The clothing and running shoe company Adidas is well known for using three stripes on its range of products. This design feature branding allows people to identify their products, even if the Adidas brand name and logo is not present.

How Can Branding Benefit My Business?

(i) Recognition and Loyalty

The main benefit of branding is that customers are much more likely to remember your business. A strong brand name and logo/image helps to keep your company image in the mind of your potential customers.

If your business sells products that are often bought on impulse, a customer recognising your brand could mean the difference between no-sale and a sale. Even if the customer was not aware that you sell a particular product, if they trust your brand, they are likely to trust you with unfamiliar products. If a customer is happy with your products or services, a brand helps to build customer loyalty across your business.