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When is the right time to start investing in branding your business?

Branding is the process used for building brand awareness, creating and extending customer loyalty. Branding is about conducting research to know, strategize, creating identity, creating touch points and delivering consistently.

It’s about exuding leadership, creating and seizing opportunities to express why people should choose your brand over the competition.

Simply put branding is what sets you business on a leading path, ahead of the competition. It builds trust and cements your brand as a leader.

Branding adds value, focusing on the important areas of a brand.

  • Differentiation
  • Loyalty
  • Perceived quality
  • Leadership/popularity
  • Perceived value
  • Brand personality
  • Associations
  • Brand awareness
  • Market share
  • Market price

 

Types of branding

Different brand types work unique for each market, these are the following that your business could fall into:

Personal branding:

If people know you or recognize your face, you have your personal brand in their minds. It’s the way an individual builds their reputation.

Personality brands:

Personality brands are personal brands but have larger and stronger loyalty base. They’re individual brands that are so strong that they deliver wide-reaching personal celebrity and create significant value when associated with products or services.

Cause branding:

It is about aligning your brand with a corporate social responsibility or charitable cause.

Country branding:

Branding a country, exuding its core values, culture, carefully crafted positioning to attract tourists and invite businesses.

Co-branding:

It provides a way of brands to combine forces, a partnership with another brand leading to business growth and their reach.

 Product branding:

When your product deliver the promise to your customer, armed with differentiation and well positioned, your product becomes a brand in itself.

Service branding:

Services are products, customers buy services as they buy products, based on their trust that they’ll deliver as promised.

Digital branding:

Digital has evolved into a major segment and targeting it in its own uniqueness is essential. Web, social media, driving commerce on the web.

 

When to start investing?

 New company/New product

If you are starting a new company, this is an ideal time to think and invest in a brand identity program. Either it is a startup, a new product, a brand, it is essential to start off on the right foot. A well researched and designed brand identity not only establishes your business as professional, conveys it’s vision confidently and exudes leadership.

 Name change

If you are planning to change your business name, usually this happens when there is change in direction of the business. A new service or a different approach to whole set of new services. It is essential that you make changes in a phased manner and a new identity eases the change process and gives new opportunity to build promise and explain the change.

 Revitalize the brand identity

If you are already running a company and see that it feels outdated and needs to level up. You need to align your future positioning and vision to your current brand, a revitalized version of the brand identity will pull you from the depths of unknown to a clear path towards your goals.

 Revitalize the brand

If you wish to re-position yourself, revive you current brand or have taken a completely different niche business. A revitalized brand will ease your entry into the new market, position, differentiate and make you relevant.

 Creating a cohesive system

If you have noticed that you lag behind in consistency of your company, marketing looks like it’s from a different company, packaging is from another and experience of another. A new brand architecture will make your brand stronger, more focused and will result in more accusations.

Merger

If you have merged with another company and you wish to communicate clearly that it’s a merger not an accusation. That there’s a stronger brand emerged from a merger of equal caliber companies. A refreshed new branding can help you send out clear messages to the audience, retain their faith and clear all the speculations.

Thank you for reading!

 

KANNcollectiveSunscribe

Filed under: Brand, Branding, e-commerce

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Kann collective is a multi disciplinary design studio that drives a brand centric solution for forward thinking and design conscious brands in lifestyle, luxury, creative and art domain.

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