Branding is the process of developing a name, image and story for your business that sets it apart from competitors. It’s what makes people remember your company’s products and services – whether they’re social media followers, billboard viewers, or passersby. Branding also includes creating the visual identity that represents your company, such as a logo, color palette, fonts, and iconography. When done well, brands can evoke emotions in consumers and become synonymous with a specific product or service, like Coca-Cola, Revlon, Nike, and others.
Brands help simplify consumer choices. When a person sees the familiar colors and imagery of a branded product, they immediately know what to expect. For example, when you see a Dunkin’ Donuts logo, you probably think of tasty donuts and great coffee. Branding also helps companies build loyalty. Customers are more likely to buy from a brand they trust, and research shows that loyal customers provide free marketing through word-of-mouth and referrals.
A brand can be defined in many ways, but it usually encompasses a company’s vision, values, and personality. It also takes into account the perception that stakeholders (potential clients, employees, investors, etc.) have about the company.
Branding is intangible, but it’s vital to a company’s success. Without it, a business can easily get lost in the noise of competing businesses. With it, a company can create a unique perception in people’s minds and establish a relationship with them that leads to sales.