What is Branding?
In the olden days, branding is mostly used in livestock businesses to indicate the origin and the ownership of animals. Farms mark it livestock (cattle, cow, and etc.) with fire-heated irons to give identification to the farm that produced it. Fast forward to the present time, branding is now used in different type of businesses and it became one of the most important aspects in any business, large or small. Branding helps your business establish a connection to its consumers – it represents the values of your business, the service you provide, the quality of your product, and the promise you made to your customers.
To put it simply, branding is who you are as a business to your customers, what you offer and how you are different from others.
Building your Brand
In order to build your brand, you need to have a brand strategy.
- Identify your target market – for example, if you are planning to put up your own Rolling Paper business, your target consumers will be smokers and you have to focus on that. It is important to have a clear understanding of your target market or else, you might end up spending resources to the wrong market.
- Distribution Channel – you have to identify how customers can get a hold of your product. Are you going to distribute through online store or a physical store? You need to identify it firsthand. If you are going to sell rolling papers, you might want to consider having both physical and online as there are customers who likes the convenience of buying online but on the other hand, there are also customers who likes to see and experience or feel the product first before buying.
Next is, you have to define your brand. As per Dan Wieden, an American advertising executive “People do not buy goods and services. They buy relations, stories, and magic.” Your brand must have a purpose, values, and a promise. These three things will set your brand apart from your competitors.
A brand purpose is the brand’s reason for being beyond making money. For example, if you are in an organic rolling paper business, your purpose is to give a safer option to your consumers when they are into smoking.
A brand value defines what is important to the company and what the company believes in. Brand values connects you to your customers. I remember this toothpaste company in the Philippines that hired PWDs as their workforce and the people started patronizing their product because of the company’s value and culture.
A brand promise is what customer can always expect to receive from the company’s brand and service. This will set your customer’s expectation from your brand and your company.
Logo and Tagline
Logo is the face of your company – it is one of the elements that helps your company communicate to your customers. It is important because:
- It helps the customers to identify your company from your competitors.
- It helps attract new customers
- It quickly expresses your company’s benefit and target market.
- It also helps as a callback to your product or services.
Branding plays a very big role in the success of the company. It will not only help you have a good start, but it will also help you make a good and lasting impression to your consumers. Remember, it is definitely beyond making money – it’s about knowing and connecting with your customers through your product and services.