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Picture this scene: a girl of about eleven starts screaming wildly and is struggling for a piece of jewelry with a boy who’s bigger than she is.
Upon closer observation, it can be deduced that they are siblings. Sibling rivalry, right?
Well, luckily their aunt who is with them on this particular occasion intervenes and collects the item that is the cause of their squabble. Now, each of them is claiming ownership of the jewelry, a necklace.
Upon interrogation, the smaller girl is able to show that her name is engraved on the necklace and naturally, she wins the claim and her aunt promptly hands the necklace to her before turning around to caution her elder brother.
Without her name having been inscribed on the necklace, it would have been a bit more difficult to decide who the real owner of the necklace was.
Moral of the story? Make sure that the things you own have a unique feature that distinguishes it so that no one can contest its ownership with you in the future.
The scenario painted above at its very basic, is the whole essence of branding. It is an essential way of proving ownership.
Oh the countless law suits, the enmity and sense of betrayal that would have been avoided had proper branding been done.
What It Is
A brand is the unique feature whether engraved or not by which a product, service or concept is known. Branding is the process of distinguishing a product service concept or goods by engraving, making or adding on it a unique feature or symbol. It is further defined and explained here.
Why Brand?
This is a question some business owners ask because they feel it is not important after all a good product or service will sell itself. This is an erroneous view, one which many business owners greatly rue after having stayed some years in business.
Branding is important for the following reasons.
Your Brand is You
Nothing passes your message like your brand. It describes what you are about, your target audience and the aims and objectives of your business.
It is perception
It is said that perception is reality, this is even truer when it comes to business. People tend to gravitate toward things they admire
Thus, if your logo is captivating and catchy you can be rest assured that the initial opinion on your product or service is already favorable.
It Breeds Trust
When a new product or service hits the market and over time gains social acceptability for one reason or the other, people get to trust the brand associated with it. This means that they will be more accepting of whatever is associated with said brand.
It Supports Your Market Effort
This is so true especially when it comes to advertising your products. This is because once your product or service is mentioned, it rings a bell and a favorable picture comes to the mind of your potential customers.
It is Good Motivation
Think of the most renowned corporations or business organizations. Think of the competition for places in such organizations and ask yourself, why is it so?
The reputation of an organization generally rubs off on its staff. This in turn breeds pride and dedication on the part of the staff and is great motivation for the business owner.
It Generates Revenue
Here we are basically talking about trademarks, copyrights and patents, which is big money. Simply put, individuals’ organizations and institutions pay heavily to be associated with successful brands.
You can learn more about why branding is important here: https://www.investopedia.com/articles/investing/111014/patents-trademarks-and-copyrights-basics.asp
Creating Your Own
When you consider the already existing brands and how successful they have been, add to that the resources the investments and the sort of expertise that goes into making and maintaining them, you might be tempted to give up.
This should not be the case as you can successfully create your own brand if you understand how to go about it.
Before you get started on this project, there are things to consider and figure out as they will help you make the right decisions.
- Who are your target audience?
- Know your place in the market.
- Know what your unique selling point is.
- Choose your business name (the afore listed considerations will serve as a kind of guide to you).
- Have a slogan (a catchy witty phrase, line or word that appeals and at the same time expresses what you are all about).
- Finally design a logo or have one designed for you (engage a professional for this!).
While the above may not look like much, they are strategic to your branding process.
This process is not something you can afford to be careless with. You need to be strategic about your moves. If you will rather have experts handle it for you, there are organizations, like commercial printing companies, that you can rely on. They help advertise your business and increase brand awareness through prints like business cards or promotional products, like quality drink coasters or stubby holders, that suits your company’s needs.
Conclusion
It is important that businesses especially startups understand the importance of branding and its impact in the sectors that they operate or are about to operate in. This will enable them claim ownership of ideas or concepts that emanated from them. It will also help them avoid future controversies or navigate crises that may occur in the future.
There you have it! Start your branding process right away.