Branding: A trend for today and tomorrow

77% of consumers buy from brands that share the same value as them, the latest statistics show.

Ever wondered why companies like iPhone & Gucci are always a leading light for people even if they are more expensive than their competitors?

How is it possible that these companies are getting taller and taller boundlessly even after having extortionate pricing!

It’s just because people have formed a perception of these particular companies. People tend to feel superior when they are associated with a ‘brand’. Hence, your brand is a reflection of who you are.

Umm, What’s a Brand...?

Brand:

A brand is something that sets you apart in an over-jammed market.

Branding:

A brand is something that sBranding, in very few words, can be described as the course of action carried out to create a brand. It is a full-fledged process that you go through to dominate the perception of your company within the 'prospects'

In a Nutshell Branding is:

Bringing up into being, the

Reason and perception of

A Proficient business, i.e.

Needful at all

Divisions for

Its Existence & Viability,

Nourishing it with

Growth & Prosperity.

Why Is it important for All Business Group?

General benefits:

• Builds trust: As a responsible entrepreneur, it’s your job to be transparent & show whatever your story is, your intentions are.
  
  People trust what they see, so the more you show yourself, the more you create a community that will end up creating loyalty within the customers.

• Bulges out of the box: Branding is an outermost layer that is made up of ‘clarity’, ‘consistency’ & a distinction that strikes you apart from your opponents.

• Builds Recognition & Memorability: The Prime goal of any ‘brand’ is to create its recognition and preference among the customers in an overcrowded market.
  
  When a brand is being recognized and remembered by its audience, they are more likely to refer your name to others as well.

Why branding is essential for Indian business-owners

• Superior pricing: The consumer tends to pay high for branded goods and services compared to non-branded ones, as they trust the company and provide a lower risk of dissatisfaction.

• Less promotional cost: People have a tendency to recommend goods and services to others that they find cost-worthy. Hence, when customers become your promoter themselves, you no longer require to spend more on promotional activities.

• Decreased employee turnover: Greater brand names come with a sense of status among employees. Hence, security & status tends to attract employees & makes their job fun and quirky. As already mentioned, people tend to feel superior when they are associated with a ‘brand’.

• Defined market share: Brand acquires a whole base of loyal customers which results in decreased cost of retaining customers. Here word of mouth publicity helps a brand to get new customers.
  
  Consequently, branding aids a business in retaining its current clients while attracting new ones.

Bursting bubbles of myths around branding

Even after knowing the innumerable benefits of branding, why is it that people find it tough to accept the concept of branding in India? Several of these branding-related myths cause Indian business owners to reject the concept of "branding."

A. Branding is not meant for small businesses.

People tend to believe that branding is only meant for large-scale business doers but the reality is a bit contrasting!

Branding helps small businesses create a distinct identity in a dense market, which helps consumers to recall their goods and services. Therefore, branding is even more important for small businesses as well.

B. Branding means just creating a logo.

Branding includes many elements, such as working on the core value, maintaining consistency, and establishing a positive profile. Creating logos and various visual elements, ambassadors are mere parts of branding.

C. Your logo should be on everything you do.

When it comes to visual branding, it's not just about the logo; it's about a combination of colors, typeface, and themes that help you stand out.

It's better to make a huge bunch of collateral symbols or graphic elements rather than just one logo/symbol on everything.

D. The visual brand is the only key to a successful brand.

No. You are fantastically fine if you have a unique product or service to offer to society and if you don’t have any customized visual brand.

A logo isn't necessarily required to establish a brand. It's the way a business promotes itself and its products to its target market. The branding process does not necessarily require the use of a logo.

You just need a name and you are all set to rock in the business world. Recharge your battery and get yourself started. Once you have clarity about your business and target market, you can invest in an expensive customized visual element.

Summary:

Your Brand is nothing but a perception drawn up in your consumer’s mind, towards you. Somehow, investing an amount that is large as a barge at the initial stage is not at all recommendable, as most probably your business will grow & change with due course of time.

Once you are all set with clarity in mind about what you are offering & to whom you are offering, that’s an absolutely perfect time to invest in a good visual customized branding design & brand Identity.

To summarize it all, a company must do branding as it is the only way to bulge out of the box by creating an illusion of distinction from your opponents within the audience.

When customers trust a brand, they become loyal, and loyal customers will always choose you when they’re given 100 different choices.

Rightly said by Mr. Jeff Bezos

"Your brand is what people say about you when you’re not in the room."

Author: Bhimsen Yadav, Brand Manager