What is a Brand and how important is it for your business?

What is a Brand and how important is it for your business?

Branding

Often we hear people and businesses using the term “brand”. However, despite being a common term in the marketing and business world, it is not always clearly understood. If I were to ask ten individuals what a brand is, I would surely get ten different answers, some more accurate than others.

In this article, I aim to clarify what a brand really is and how important it could be for your business growth when combined with Strategy-led digital marketing.

So, what is a brand?

A brand is the unique feeling a product, company, or individual evokes. In other words, it is a particular way in which a company, product, or individual is perceived by those who experience it. A brand is much more than a company name, logo, or tagline. It is that what comes to your mind when you think about a specific product or service.

Also, it is not purely logos, adverts, and packaging that make up a brand. These are all just marketing and advertising strategies. A brand only lives in the mind of the audience who has had an encounter with it whether that be an employee, investor, or the media. Most importantly, brands are aimed to connect with customers.

Moreover, in the business world, brands are not just perceptions, they are valuable business tools used to drive ROI that are measurable. Brands may be perceived as intangible, but they are one of the most valuable assets an individual or group could own.

A brand is the reason why someone may have an army of loyal devoted fans. A strong brand is a company’s ultimate competitive advantage. It increases the probability of customers choosing your business over your competitors. It also helps to acquire new customers, maximise the amount they spend and secure repeat business.

A brand is made up of a number of different elements. These include the name, logo, visual assets, colour scheme and typography. You can explore more about these here.

 

Branding Vs. Digital Marketing – Know the difference

Branding can be confused with digital marketing.

Digital Marketing advertises or draws attention to your company, while branding converts your potential customers into first-time buyers and then into lifetime loyal customers who excitedly await your new products or services to be unveiled.

Also, branding is long-term and exists as long as the company or individual, while digital marketing is a short-term strategy used to promote a business.

Importance of strong branding in digital marketing.

Without digital marketing, branding on its own will not have much impact, and without branding, digital marketing cannot work on its own. In essence, both of these are important for a business to thrive.

Branding is important in digital marketing for the following reasons;

  • Digital marketing provides the leads and target audience who can become one-time buyers or long-lasting customers depending on the company or individual branding techniques
  • Branding speaks directly to the target audience, conforming to their beliefs
  • It gives customers confidence in the product which they have chosen to buy
  • It helps companies expand and retain their customer base gotten via the various forms of digital marketing
  • Branding communicates the impact a product or service will have on its users
  • A strong brand establishes trust between customers and the company

But, why is building a brand so important?

Brand building cannot be overlooked in the growth of a successful business. As I mentioned earlier, a brand presence is one of the greatest and most valuable assets of a company or an individual. On top of that, it speaks for you even in your absence.

However, let’s explore some more reasons why building a strong brand in the modern business world is so necessary.

  • A brand ensures uniqueness and originality in dealing with your customers.
  • It helps you connect with your buyer’s pain points.
  • A strong brand earns you a distinct and unique recognition in the market. For example, customers who are Environmentally conscious will tend to buy from a company that uses natural ingredients and Eco-friendly packaging to produce its products irrespective of the price.

So, how to leverage the power of digital marketing in branding?

Creating a branding strategy in digital marketing is easier said than done as much time and research have to go into the process. If done properly, it gives a massive ROI and pays in long term.

Here are a few ground rules on how to go about it ;

  • Know your target audience
  • Know your brand values and what it stands for
  • Take note of things that could cause hindrance to your brand
  • Run digital marketing campaigns around your brand messages
  • Keep an eye on your competitors and their digital presence
  • Optimise your campaigns by constantly measuring, analysing and improving

If you need help with your branding and digital marketing we can help grow your business. Renowned for providing ‘data-driven results’, and ‘out of the box’ solutions to get brands noticed, Snap, is offering a FREE consultation to anyone who is stuck trying to figure out how to connect with their audience and win more business.

Get in touch today!

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