You’ve probably heard of the terms brand, branding, and brand identity. While they all sound similar and are often used interchangeably, the fact of the matter is that they all have completely different meanings. Unfortunately, the three terms are used loosely these days, making it difficult for others to truly understand the real meaning of each. But as a business owner, marketing professional, or someone who really just wants to understand the meaning of these terms, it is a good idea to understand the distinct meanings of each term, as they are all important factors when it comes to having a business.
What is a Brand?
Think of a brand as the intangible assets of a company. When you have a business, the product or service that you are selling should create an emotional relationship between your customers and your business. Think about the times you have developed a gut feeling about a company based on certain elements that they represent. You can associate the term ‘brand’ as a relationship between your customers and your company.
It is no secret that no matter what industry you’re in, there is always going to be some type of competition. As a result, it is a non-negotiable that companies figure out creative ways to connect with their customers that are unique, with hopes of creating lifelong relationships. A successful company always strives to get their customers to believe in the company, product, or service just as much as the business owner believes in it. Ultimately, you should always want your customers to trust your company, which will result in support in the long run. And the takeaway from this is to build a brand that establishes a relationship and promise with your customers.
In essence, your brand is how customers will perceive your company and is something that is vital when it comes to reaching success.
What is Branding?
Branding involves the process of creating a unique name and image for the product or service that you are selling, all while keeping the consumer in mind. There are a number of important factors involved, including positioning the product or service in the market, creating a brand strategy, establishing your name, designing your identity, constructing your brand’s message, and setting your standards.
All of these key elements are vital to establishing your company and there are many different approaches of branding, including:
- Co-branding: Partnering with another brand to get more reach.
- Digital branding: Through social media, web, search engine optimization (SEO), etc.
- Personal branding: How an individual establishes their own reputation.
- Cause branding: Positioning your brand with a charitable cause or for another cause.
- Nation branding: Aiming to attract tourists and businesses.
Overall, branding involves both tangible and intangible factors, as there are many different elements involved.
What is Brand Identity?
Remember earlier when we mentioned that a brand is how customers perceive your company, service, or product? Well, when it comes to brand identity, think of it as how you can influence that perception. Brand identity is more tangible, as it is what you can see, touch, hold, and hear. Your brand identity is everything you can possibly see. This includes your logo, color palette, typography, packaging, website, social media graphics, and much more. There are so many elements that make up your brand identity and it is absolutely necessary to stay consistent to maintain a cohesive and aesthetically pleasing brand identity.