Branding: Why building it is important

What is branding?

According to Wikipedia a brand is a “name, term, design, symbol, or any other feature that identifies one seller’s good or service as distinct from those of other sellers’.”

In other words:  branding is not about getting your target market to select you over other product/service providers in your industry, but it is about getting your potential clients to see you as the sole provider of a solution to their specific problem.

It’s important to spend time and money on researching, defining, and building your brand.  It will be your visual identity that represents your company’s personality, customer promises and guarantees and as such it is a very powerful tool and business investment.

Reasons to build your brand

1. You can charge more when you have a brand because people see value.
2. In a world of sameness, brands offer a competitive advantage and a clear point-of-difference.
3. Brands are memorable.
4. Brands emotionally engage with their prospects – and when someone is emotionally engaged (with anything), it is much harder to sever the ties and look elsewhere.

Resources

• Unknown. (). Brand. Available: https://en.wikipedia.org/wiki/Brand. Last accessed 7 September 2012.

• Laura Lake. (). What is Branding and How Important is it to Your Marketing Strategy?. Available: https://marketing.about.com/cs/brandmktg/a/whatisbranding.htm. Last accessed 7 September 2012.

• Unknown. (). Unknown. Available: https://dpm.net.au/about/branding/. Last accessed 7 September 2012.

• Karen Lim-Sam. (2012). 5 Reasons to Build your Brand. Available: https://www.netregistry.com.au/blog/general/5-reasons-to-create-a-brand. Last accessed 7 September 2012.