19 Mar, 2023

“What is Branding?” “I’ll do you one better. Why is Branding?”

Branding is the image, persona or culture of your self/company that you cultivate and project to the public. The public will associate you with different qualities depending on how you brand yourself. If you have a consistent image that is loved by your target audience you can have long lasting customer loyalty and a permanent place in the market. The business of Branding has become a billion dollar industry that can make or break many companies, especially when they are just starting out.

Before the Internet, Social Media and various other Multimedia that are common today, Branding was limited to billboards, radio and TV commercials, and door-to-door salesmen giving you long spiels on how their Brand was “unique” and “the best”. Today, the customer has more choices not just for viewing commercials, but also for avoiding them. Brand campaigns now have to account for multiple points of contact such as ads in Social Media and Gaming apps, product placement in movies/TV, Paid Promotion by influencers, et cetera to achieve maximum reach.

If the customer doesn’t trust you, why would they buy your product/service? The trust of a customer is hard to acquire and retain, especially in this modern era of transparency. Among a thousand competitors, gaining even the attention of a consumer can be tough, gaining their trust even more. Businesses can only build trust by genuinely caring for their customers and their Brand should reflect that. The image they project should be honest and transparent. If you make a mistake, own up to it and apologize sincerely and with humility. Also highlight your successes—showcase your awards, your ranking among your competitors, your collaborations with other companies and the great reviews you received from satisfied customers.

Brand Purpose is the way you answer the question, “Why are you in this business?” with more than “to make money”. Do you want to change the world? Or the market? Or maybe just your immediate local society? Do you want to help people? Heal them? Educate them? The Brand Purpose shapes your company’s operational strategies as well as your relationship with customers. The right purpose can set you apart from the competition while a “convenient purpose” will make you mire in obscurity. So if you can, get yourself a Brand Purpose.

Once you have designed your Brand and shared it with the world, you cannot just sit back and rest on your laurels. As the world keeps changing, so should your Brand. While your overall purpose should stay consistent, your message and values should stay up to date. The best way to do this is to know what questions your customers are asking and what their latest topic of discussion is. A different generation or culture of customers will have different values and priorities and you should acknowledge that to update your branding. That’s a good way to stay on top.