What is branding?
The term “brand” is thrown around in conversations constantly, from our daily commute to meetings and conference calls, but what does “brand” really mean?
Everyone is familiar with the big players like Apple, McDonalds (Maccas) and Coca-Cola (we’ve actually mentioned them before in other posts).
They’re the leaders in their respective fields and some of the largest brands in the world. For those brands that share the market with companies like this; small-medium sized businesses and startups, branding is hard work and it’s tough to keep up with those companies and their bulging budgets. The slightest hiccup and it could be all over red rover for a piece of the pie.
Branding is the aura of a company, from a business card to employees and everything in-between. It is the perception that people have of your company. The better your branding, the longer people interact with it, like it, understand it, and eventually buy into it.
For most, having a recognisable brand is an excuse to slap an eye watering price tag on a product or service without anyone questioning it. As advocates of psychology, market research and critical thinking, branding should be a window into the soul of a product or service.
It should be what your product is, what your company is and what they are both about and aspire to be.
There will always be similar brands out there with bigger budgets and more resources to take control of the market. In order to combat this it’s important to strategise where your company fits into the market, and create branding accordingly, over and over. Your branding should always be evolving, from colour, typography, copy, imagery to iconography, these all play a part in building a successful brand. Through research and a data-driven approach to understanding your brand, you can create a process that improves your company’s identity, and builds your brand’s voice.
A solid brand building process can transform your startup from a small player into a successful competitor. With the right approach, building a brand doesn’t need a wad of cash, but it does need a certain respect for the bigger picture and the means to invest into it.