Branding is the process of creating a distinct identity for your business in the minds of your customers and consumers. It includes a name, logo, visual design, mission statement and tone of voice. It also encompasses everything your company does, from the quality of its products to customer service.
The concept of branding is a bit more complex than the simple definition offered by Cambridge Dictionary, which states that a “brand is a name, term, design or symbol that distinguishes and differentiates a product from other products.” This definition can be further broken down into two parts: brand identity and brand equity.
A brand identity is the promise a company makes to its stakeholders about its products and services, such as a promise of high-quality, consistency, or affordability. This is a crucial part of the branding process because it establishes trust in a highly competitive market. Branding seeks to create a positive perception of your business by communicating a consistent message to all customers and potential customers through various marketing channels, including email, social media, print and advertising.
A well-developed and executed brand is the key to customer loyalty. It allows you to stand out amongst a sea of competitors and captures the attention of your audience. It is what makes a customer remember your business and entices them to come back. A loyal customer will also spread a positive message about your business to their friends and family, which can lead to more sales.