What comes to your mind when you hear the name Coca Cola? Maybe you are one of the many people who identify it with soft drink or fresh cold drink. Well this is one example of branding.
But why do many think so? The answer is that the Coca Cola brand is strong in its industry.
If you want your business’ brand to be recognized as in the example above, you need to build the right positive brand image.
For that, you will be guided through this article to understand the meaning of branding, its benefits for business, and various strategies to build the right brand. Happy reading!
What is Branding?
Before understanding what branding is, you need to know the meaning of brand first. According to the American Marketing Association, a brand is a name, term, design, symbol, or other characteristic of a product or service that distinguishes it from others.
Therefore, branding is all efforts to create a brand. In other words, the process of determining the mission, vision, and logo can be categorized as branding.
Elements of Branding
Brands can be represented by various things. However, you should not forget the four elements below when doing branding:
- Mission and Vision — Mission and vision are the foundation of your brand. Both can be interpreted as follows: Mission is the solution you want to provide to solve the problem at hand, while vision is the long-term goal you want to achieve with your brand.
- Logo — Logo is the face of a brand. To create it, you need a writing style, color, and shape that can make an impression on your target market’s mind .
- Jargon — A logo creates a visual image of a brand, but you need to bring it to life with words. This is where the jargon comes in. By having it, potential customers will have a better understanding of what your brand has to offer.
- Website — In the past, you could display your brand image with flyers, billboards, and television advertisements. However, the digital age requires every business to have an official website. Otherwise, your business will not be famous. For full website benefits, you can read about this website benefits article.
Benefits of Branding for Your Business
Most brands that are known to the wider community have been around for a long time, for example, Coca Cola. However, the soft drink brand certainly would not be in its current position without branding efforts carried out for generations.
1. As a way to provide identity
Everyone must have understood that a brand is an identity. This identity is usually shown or communicated to the audience with a logo or tagline.
This identity will differentiate your product from other company products. With a good branding process, consumers will find advantages in your product compared to competing products so that they will trust and choose your product more than other products.
2. Delivering Product Value
When a branding agency builds a brand, it means that they have conveyed the message of the client’s product to the surrounding community. The values contained in this product will later become a magnet for the community or your company’s target market.
3. Create a Target Market and Become a Means of Communication with Customers
Keep in mind, when you open a brand, you automatically have opened a communication space with the community or your target market. The branding process will convey several messages to the community. Regarding the value, advantages of the product, the uniqueness of the product and so on.
In addition, in the branding process, you will get several reviews from customers that you can use to evaluate and increase the value of your product.
4. Build Credibility and Perception
After someone tries to use or consume products from your brand, then slowly they will feel the benefits of your product. Since then they have built a perception of your product that depends on the quality of the product you offer.
Therefore you cannot waste this process. Your credibility will be built when consumers try to use your product.
5. Simplify the Referral Process
This is the last reason why you or your branding agency need to do the best possible branding process. That is to simplify the referral process that will be carried out by customers because of the satisfaction felt from your product.
Because of the importance of this branding process, many business owners hand over this important branding process to experts, namely branding agencies who have experience in the branding process.
Types of Branding
Before you do branding, you must first know what the type of branding is. Because, each type of branding has a different purpose. The media used can also vary.
So, what are the types of branding? Below, we’ll describe the 5 most popular types of branding. Let’s see one by one!
1. Product Branding
Product branding is the most commonly used type of branding. You must have seen it everywhere. Starting from websites and social media, to TV, newspapers, and billboards.
Its main purpose is to promote newly launched products, or increase sales of old products.
Usually what is displayed is product features, product prices, product variations, and other values that can be a competitive advantage.
The following is an example of product branding that KFC does in introducing new product: