by Denise Seith

Created on: February 19, 2009

Branding is a big buzzword in today's marketplace, but what exactly does it mean? Simply defined, a brand is the essence and purpose of what your business stands for in the minds of your customers- it is their impression of what they are purchasing- both tangible (physical) and intangible (subtleties and feelings). For example, Nike physically provides athletic products. Nike also "sells" speed, fitness, power, and style.

A brand isn't accidental; you must purposely SHOW & TELL the public what you want them to know and remember about your unique business.

Branding is the action of conveying your brand to a target market and creating an emotional tie to your unique product or service. Branding attracts, satisfies, and retains customers. Nike does this visually through their consistent, distinct logo and slogans and using well-known athletes as spokespeople to convey the non-tangibles of their brand.

Branding is important because it solves a problem for consumers. Branding helps them to select a product or service whose quality, safety, or function cannot be fully determined until after the purchase is made. Branding builds trust and eliminates some risk of the unknown- especially when doing business with big companies located outside a local geographic area (credit card companies, brokers, online shopping).

Without branding, all comparable products and services would simply blend together- every financial institution, insurance agency, chocolate bar, coffee bean, and athletic shoe would be indistinguishable from another- even though in reality huge differences in quality, price, taste, and service can exist.

The logic behind branding is simple: if your target market is familiar with your brand and has a favorable impression of it, they are more likely to purchase your products and services. But consumers won't know what your business is all about unless you tell them!

Is your company branded? If a distinct graphic, slogan, or feeling doesn't emerge when buyers hear or see your company name, that means your business brand has yet to be defined and developed. Customers must clearly understand and agree with the essence, character and purpose of your product or service before they'll buy it. And how are they to know if you don't inform them? Hire a professional graphic designer, copywriter, or ad agency to help establish and advertise your brand.

It's never too late to embark on your own branding campaign- no matter the size or age of your business. Establishing a successful brand takes thought and deliberate execution, but the sooner you start, the sooner you'll see results in your bottom line. Here's how to begin:

* Define who you are, what you have to offer, your method of doing business, your target audience, and why customers should put their faith in your products or services.

* Convey those decisions and distinguish your company from all others with a strong visual reference- a logo, typeface, color, slogan, jingle, theme, or tagline. For best results, work with a professional skilled in graphic design and copywriting.

* Commit to consistently carry your brand through every aspect of your business- stationery, marketing materials, advertising, signage, product packaging, customer service, etc.

Investing in your brand is investing in your company's success. Know clearly who you are and what you have to offer, and then loudly and consistently portray that image to your target market. Your brand is a powerful business asset, so maximize its value!

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