Branding is one of the most critical aspects of a business. It speaks about the values of a company or what it lives up to and provides. Business branding, per se, concerns itself on customers feelings about your business or on the emotional aspect but at the same time on the physical aspect of its services or products. The way companies curate its image makes or breaks how the market avails it. Branding has become of one the critical terms in business and establishing it has its misconceptions as well.
Misconception 1: The Business Logo is the Brand.
The most common misconception about Branding is that it starts and ends in creating a logo and a catchy business name. Getting a great logo is essential for a business logo creation should be part of the initial business planning. However, the business logo shouldn’t be the end-all and be-all of your business. It is just one aspect of creating your brand.
A great logo is one that tells a great story behind or history attached. For example, whenever we see two golden arches or a big yellow letter M from afar, we see a logo, but we also recognize it as a fast-food chain serving burgers, fried chickens, and muffins. But to top it all, we remember its name being McDonald’s.
We wouldn’t likely see any more businesses flourishing today if they were so bad and only carry bad stories with them, they would be bygones by now. Now that’s a lousy branding speaking. Before the creation of McDonald’s as a business chain or the incorporation of a logo in the 60s, nobody would have recognized what those golden archers were all about if it weren’t for the product they sell and the kind of service they made people feel.
Misconception 2: Create a Slogan and stick to it.
“Just do it” “Life’s Good” “Finger-Lickin’ Good” “Hello Moto” “Connecting People” “Think Different” “Once you pop, you can’t stop” “I’m lovin’ it” “The Happiest Place on Earth” “Open Happiness” and “Look Up America,” and the list goes on. These are just a few of the many slogans from companies in the world. How many of these do you recognize? How many of which are you familiar and how much do you know of how the business is doing now?
Did you happen to realize that the last two mentioned taglines above are from the same company? That’s right, Coca-Cola creates a new slogan every three years or so for the past 130 years. Some taglines were even more remarkable for others than the rest of the newer ones. Regardless, they recognize what Coca-Cola’s is all about. The “Look Up America” slogan, for instance, is the 1975 slogan of Coca-Cola that speaks of patriotism. They intended to bolster the nation’s morale following the resignation of President Richard Nixon and the political uncertainty in the United States.
Meanwhile, the “Just Do It” tagline has been Nike’s iconic slogan since 1988. Nothing much has changed in the tagline of the world’s leading supplier of athletic shoes and apparel despite the slight change in their logo. Nobody would have imagined that a murderer’s last word inspired the slogan of the company. Today, people remember it as a phrase of encouragement to face challenges that are seemingly impossible at first glance- a message that Nike has well curated for the past 30 years.
Here, you can learn a great deal of advertising from some of the world’s huge companies. You can create a slogan and stick to it, or you can produce a new one each year. You may also avail of custom signs for businesses that could go perfectly well with a slogan. You can create a slogan so remarkable that people would still remember even when your company crumbles or you can create a slogan out of the silliest inspiration. What is more important is how your business is going to relate it to the people one day at a time.
Misconception 3: Branding is a onetime trick.
You should know by now that branding has to have a story to tell and a promise of relatability. Branding is therefore continuous; you have to keep working on it. It’s not a onetime trick or a one-shot deal. Consumers will have to understand the value of your brand over another. Your cost is something that you have to position well given the proliferation of new brands daily.
Brand Positioning refers to creating an offer that will make you distinct from your target customers. Most of the time, your brand positioning is influenced by your competitive stance. You may always experiment with a new offer to spice up your business, but you also have to consider how well you are to advertise it.
There are several positioning errors you should avoid when trying to move ahead of your competitors in the market. The first one is under positioning, where your customers start to get an unclear idea of your brand. This happens because you advertised your brand either too simple, vague or complicated. The second error is over positioning, where your customers get too limited awareness of your brand. This occurs when your business only caters to a specific niche in the market. The third error in positioning your brand is confused positioning where your customers get a confused opinion of your brand and mistake for another offer or services.
Branding and adding value to your business is intrinsic and often comes along with the quality of your offer and the emotional attachment and effect it has on your consumers. There are different types of branding and many different purposes for each type of branding- as for business, there is no mistaking it but to keep being a sell-out!