Creating a Brand identity for your organisation is not restricted to creating a Brand name or logo. A brand identity spans across verticals leading to create brand recall and also increasing your brand’s equity. Find why investing in creating a strong brand identity is important.
Branding is everywhere.
It's so omnipresent, there are few terms used as often and as compulsively.
What is a brand?
Once upon a time, a brand was defined as a name, slogan, a logo, or a combination of these that identify the products of a company.
Today, the definition is more complex, but even more important.
A brand is a set of emotions and ideas consumers associate with your company. It's the way your customer perceives you.
“A brand is no longer what we tell the consumer it is- it is what consumers tell each other it is”. – Scott Cook. Co-Founder, Intuit
Why is it important to invest in a brand?
A strong brand plays an important role in creating trust, recognition, motivation for your employees, and most importantly, profit.
It makes acquiring new customers easier and tremendously increases the value of your business.
For example, in 2008, Goldman Sachs and Morgan Stanley helped Ford sell the brands Range Rover and Jaguar to Tata Motors.
The brands were sold at a whopping 2.56 billion US Dollars, and were worth more than all other ingredients put together.
But this doesn’t happen overnight, it takes time and effort to truly understand your brand’s value to support your long-term business goals.
Brand perception is integral to achieving these goals, how?
By paying attention to how your internal and external stakeholders perceive your brand.
Align your marketing efforts to your brand and claim the most valuable real estate: Your own corner on a consumer’s mind.
That’s where the choice between you and your competitor is made, and that’s when your revenue stream begins to thrive.
To understand the art of branding while aligning your brand, business and identity seamlessly, you can get in touch with us for a Brand Business Management Program .
Source: "Why Brand Building is Important" by Scott Goodson, Forbes Magazine