Brand Building-Businesses Priority One
How many times have you attended a conference and when you were seated at a table you realized you knew the person who just sat down next to you? Do you make a game of seeing who will recognize who first or be bold and make your introductions first? That game can be played either way dependent on if you are in the mood to network or just want to lay low and listen to the speaker.
If you are the Brand or work for a Brand, then it is hoped, with the money that had been invested in your registration to attend and the accommodations, that you would have prepared yourself and you are in the mood to network, taking every opportunity to meet and greet and the only flashing you would do is of your smile and a business card.
There are many instances when after being seated and business cards are exchanged, some recipients will have puzzled looks. Are the looks because they recognized the individual’s name or was it the logo on the card?
For most, it will be a joint answer, like, I remember this logo or I know your name. If you are able to truly connect, you are to be congratulated on a great memory and an A for having the ability to recall that logo. If a great deal of time has passed between contacts and a multitude of other things have been scanned into your brain, and you know there is something there but just can’t grasp it, you are not alone.
Brands and their logos have a way of sneaking into your brain and making themselves at home either in the lower drawer of our minds file cabinet where they are able to be reached and withdrawn with ease or if they were placed on the top shelf just out of reach and you know it’s there but just can’t get it.
When you make your Brand a priority of your business, you have the opportunity to create a recognizable symbol that could impact an individual for years. Whether they deal with your Brand on a consistent basis or if your Brand is stored in the lower drawer of their minds file cabinet, or tucked away on the top shelf, your Brand will always be within reach of every individual that sees it.
That is Branding 101 – how to be successful as they made brand building-businesses priority one.
Definition of Branding
For those that missed the beginning of this course, let’s look at a definition of Branding. Branding is a procedure of producing a unique, distinct and long lasting understanding in the minds of customers. A brand is a company’s consistent and special individuality, linked and associated with character, quality, origin, preference and taste.
Who Does Branding
Branding is not just for the large corporations and big businesses with the resources and budgets of the nationally recognized names. The home-based craft person who designed the tag she ties to her items, is branding herself. Farmer’s Markets that use logo marked bags, are branding themselves.
Methods of Branding
Branding can include a multitude of sensory associations; an unforgettable name, logo designs, unique or distinct color palettes, mottos, special music or jingles, spokesperson or characters, how products are packaged and trademarks.
Methods of branding include association of a business with logo designs, distinctive colors, mottos, musical sounds or tunes, uncommon qualities, mascots, packaging, an unforgettable name, behavioral hallmarks and far more.
How Branding Produces Results
Businesses invest their efforts, time and money to create that image representing everything they are. And here’s how:
- Memorability – To create a top quality memory chip for your business that is easily kept in the consumers mind.
- Commitment – To have individuals have a favorable encounter with an unforgettable Brand, they have a higher tendency to repeat their purchase of that specific product and/or service rather than another brand.
- Experience – Tests have actually revealed that an individual’s experiences impacts preferences and this causes even those who have never used the Brand to suggest and recommend Brands they already know something about.
- Pretty Comes at A Cost – Branding can increase what you are selling from being mediocre to premium with the price tag to match as clients are ready to spend more for the well-branded product and/or service that has established themselves as being worth it.
- Other Inventory Sells – An established and reputable Brand is able to expand the customer’s product satisfactory with the Brand to their other inventory without having to begin anew on a branding strategy.
- Company Equity Increases – Branding is money in the bank if a decision is made to sell a business.
- Reduces Development Expenditures – After your initial investment is paid for developing your Brand, your operating costs in this area are reduced. You start to see a return on your investment as your sales figures grow as a result of a superior product and/or service marketing which reflects back onto your Branding as reliable and trustworthy.
- Easier consumer choices – There is less likelihood of disappointment by a consumer when they have selected a Brand-name over a generic supplier. The Brand’s selection is again based on reliability and is trusted to be good.
When following all of these attributes, you can see why Branding is important to not only your customers but to you to be able to acquire those customers through your hard work, honesty and your products and/or services reliability and trustworthiness.