Branding is Smart Business Strategy

by Ann Johnston

With each and every business, large and small, it is always important to keep marketing directives in line with the brand of the company. Whether it is internal or external communication, the branding must be consistent and concise. A branding strategy must also be conceived on a much larger scope and across multiple mediums. A company needs to differentiate itself in a world of increasing complexity with a much larger set of competitors. With the internet becoming a prevalent outlet for research and marketing, your competitors aren’t just the other businesses in Central Illinois.

The "branding" challenge for a businessmust be approached from different aspects. The Brand and Branding are two very different concepts. The brand is what exists in the consumer's mind. It is what the consumer feels or associates with your company or product. Branding is what generates and influences the feelings and associations felt about your brand. When an organization considers a brand strategy many significant questions need to be answered. What equity do we own in our existing brand name? What do we have invested in our name? What is the potential value of branding ourselves more aggressively? What is the estimated cost of any new brand awareness strategies?

As we know from old movies, a brand is a way of identifying ownership and an assortment of responsibilities and privileges that go with it. The rancher who put his brand on a maverick calf was not only claiming it for his own, he was also accepting the burden of its care and feeding. The real brand was not the symbol burned into the animal's hide… but the persona behind it… the identity, which the brand symbol represented. Indeed, the identity of the rancher himself.

Core definition:  A brand is the sum of all information about a product or service that is communicated through name, images and experiences. A brand name represents a promise to clients and stakeholders (it takes time to establish).  Your company must be a "trusted" name, representing an important mission, using marketing effeciencies effectively to serve the community with the best possible outcomes for your client base.  How do we validate this trust?

Before any branding begins, identify your goals and audience. What do you want your branding to accomplish and who do you want to target. You cannot begin a successful branding campaign until you have a plan of action. You never want to create a campaign that your product cannot fulfill.  With a clear plan of action and direction, your business can achieve a successful branding campaign. We must remember to look at the big picture while focusing on the little details.

What are your current strengths (people) within your business?
Which segments of your business are most profitable?
Which segments of your business are you missing?
What do you see for future trends in your business category?

The Answer is: Be yourself. 

Defining and being true to a brand ensures that your business stays on course, remains highly differentiated, and valuable to your target market. Around the world "brands" are what people know. Brands are what people buy. Your businessrecognizes the value of branding and the important role of communications. We acknowledge, in more and more categories, perceptions themselves are becoming key facts in differentiating between people and services.

Building your business around your brand also enables you to obtain the highest level of satisfaction and fulfillment from hard work.  The first and most important step in brand building involves uncovering a unique promise of value. This helps to identify what is truly important, what is unique, and what values will drive your business decisions.  Understanding a brand enables you to stay on target with your business.  Then you can make strategic and tactical decisions that are consistent with your business’s values, passions, and goals.

Most importantly, branding is a marathon, not a sprint. Before beginning the branding campaign, understand that success is neither immediate nor repetitive. You will constantly have to work to keep your brand relevant, consistent, and distinct. You must ensure that all aspects of the business are reinforcing this brand message.  Developing brand guidelines that clearly describe what is on and off-brand for your business will help guide you and your employees for future growth. 

If you find that Branding is something that your company would like to know more about, feel free to contact Central States Media at info@centralstatesmedia.com or on the phone at (309) 693-2345.