There are two kinds of people in this world: there's the person who says "I am here" and then there's the person who everyone says "There he/she is”. We don't often think about it, but we all have our own individual persona. Among other things, a brand is just a person's persona viewed by many. In much the same way, when you stop to think about it, brands are people too! They are the face of an organization that represents the company's values and interests. Just like people, good branding makes people want to be associated with it.
What is brand?
The question has a simple and straightforward answer. As Kwan Harsono, Founder and CEO of Bedrock Asia, would say brand is a collection set of experiences and associations that customers build up over time. A brand is made of people, beliefs, attitudes, activities and habits that form a cohesive whole. The essence of brand is a set of shared understandings and emotions that serve as the guiding light for the development, promotion, offline and digital marketing of products, services and brands.
Why need branding?
It is said that a brand is more than just a business. It's a way of life, a connection to your audience, and even a way of thinking about the world. Think of a well-known brand like Coca-Cola, Nike, Google or Starbucks. Each has a unique identity that sets them apart from competitors and helps promote their products.
Good branding improves your company's image and reputation, which is important because 80% of consumers decide what they believe about a company by looking at what others say about it. Having a good brand will attract customers, generate demand for your products and services and help you maintain profitability. Branding is best described as the glue that holds a brand together. Brand recognition, brand image, brand loyalty, and brand equity are among some of its many features.
Great branding examples:
IKEA did a great job in branding that it is hard for you not to remember its name whenever you think about home furniture. IKEA is one of the famous furniture company in the world which easily spread their products with low price since they focused on delivering a branded experience from catalog, store, online ecommerce and other channels.
Branding or marketing?
A question I get asked fairly often is about what the differences are between marketing and branding. One of my favorite ways to explain it is by breaking down the differences between a lemonade stand and Coca-Cola. Marketing is the process of building awareness and educating potential customers about what you have to offer - most commonly through advertising. Branding, on the other hand, is creating a strong identity to create emotional connection with your target customer.”
How branding will help your business?
Good branding brings good business. The same is true for bad branding, it will ruin your business. Here are key benefits of branding.
Easier to sell to buyers or customers.
Set you apart from the competitors.
Create a lasting impression on your customer
Give customers a feeling of ownership in your product or service.
Increases quality standards of the business.
Make customers coming back.
How to start with branding?
1. Identify who you are
2. Understand your target audiences
3. Determine your strategy
4. Create brand expressions
5. Communicate your brand
In times of crisis, it's easy to forget that we possess the ability to adapt, problem-solve, and respond to unexpected challenges. It's why we've survived and thrived as a species. COVID-19 will be no different. As people look to brands and businesses to help them figure out how to contribute their part in building a better world, a good brand can be the key ingredient for driving growth.
Learn How Bedrock Asia is helping companies across industries to create a strong brand that lasts.