The True Importance of Branding
The concept of branding is very abstract to some people, and it is definitely one that’s easier to understand in your mind than to define it in words. But the major power players in the business world know that the right branding is worth millions, if not billions. Tata Motors of India, for example, bought Jaguar and Range Rover from Ford recently, and can you begin to guess the price tag? $2.56 billion. Mainly because Jaguar and Range Rover offer the type of brand that is hard to come by and even harder to create.
Understanding Brand and Branding
So what exactly is a brand? Think of it as what jumps into your mind when you think of a product, service, or organization. What pops in your head at the word McDonald’s? Pepsi? NorthFace? It might be a visual logo, packaging, quality of product, or anything else that gives a company an identity that sets it apart from the countless other companies competing for market space.
Given that definition, branding is simply the action of advertising, marketing, communicating, and working to build a brand. If the concept is simple, the actual implementation is not. Marketing materials, stories, employee training, logo design, and more are all integral pieces of branding.
Branding and Small Business
Large, far-reaching companies like Starbucks have large, far-reaching purse strings to create effective, unforgettable branding. Even if you don’t like coffee, you most likely know that Starbucks has branded itself as an upscale coffee shop with humble roots that will customize your coffee to an impressive degree of precision. There’s a reason that millions of people are willing to pay $5 and $6 for their coffees every day!
But if you are a small business, you can still accomplish efficient branding in your own community. And you must! Branding will improve your recognition, create trust with your customers, help your advertising leave more of an impression, and make your company more valuable. Your best bet is to work with a professional Internet marketing company and graphic design and printing service to obtain expert advice.