Posted on June 16, 2022.

Jeff Bezos famously once said, “A brand for a company is like a reputation for a person. You earn reputation by trying to do hard things well.” What first comes to mind when you hear the phrase “Just Do It”? I’m guessing you immediately think of Nike. Since its founding in 1964, Nike has created a brand that can be recognized throughout the world with only three words.

Co-founder Phil Knight said for years that Nike is a product-oriented company; however, he later amended that statement to: “Nike is a marketing-oriented company, and the product is our most important marketing tool.” The right branding strategy—powerful, consistent depictions of your brand via marketing—is perhaps more critical for a company’s success than product design and quality.

The perfect marketing strategy will help you develop a recognizable brand that involves not just an appealing logo and design, but also an appropriate message that leaves a lasting impression in order to foster consumer trust. Now, let’s dive in.

What is branding?

So many terms and definitions spring to mind when this question is posed. A strong branding plan entails more than just a logo and a brand style guide. A brand is made up of various elements that work together to produce a company’s image and reputation, as well as the emotion it evokes in consumers. Having a brand that people can easily identify can propel a company to the next level.

Why is branding important in today’s market?

A strong brand offers your company a face that potential consumers will recognize when making purchasing decisions, which can convert one-time buyers into loyal, repeat customers. A good brand may help a firm stand out from its competition, boost its market position, raise revenue and much more.

Branding will increase client trust in you. When someone wants to purchase an item or use a service, they will go with a firm that has an established brand and personality that they like. Building trust can be difficult initially, especially if your company is new to the market and few people are familiar with it.

As purchasing power transfers from older to younger generations, brand trust is becoming increasingly important for businesses. Working and associating with firms they trust—companies whose brands are portrayed openly and honestly and that align with their values—is most important to Millennial and Gen Z customers.

Define your messaging.

When trying to build a positive relationship with customers, the things you say and how you say them matter. Customers should always receive a clear and explicit message from your brand. Consider what you stand for as a company. What is your goal? What is your perspective? What can you offer your clients and consumers in terms of experience? Delivering on your commitments is critical to earning customers' trust, just as it is in any human relationship.

Demonstrate care for your customers.

Your company’s branded messaging should always reflect customer care, sincerity and reliability. Having a dependable product, delivering what is promised, maintaining brand consistency and providing a positive customer service experience will allow you to establish a trustworthy brand. Trust will further brand loyalty, engagement and advocacy in the long run.

Let’s take a look at Amazon for a moment. It was designed with a clear and concise message: “an everything store.” That was the foundation of the brand. The small arrow underneath the name, which creates a grin, is seen in its logo. This indicates that the company’s purpose is to make customers happy by providing essentially whatever they require.

Be consistent.

Your company’s recognizability will improve if you employ branding consistently. Consider well-known logos such as Nike, McDonald’s, Apple and others. When someone sees these logos, the company names immediately come to mind. Do you have mental images of them? These brands are well-known all around the world.

Having a distinct brand will help you take your company to the next level, increasing revenue and brand recognition. Your company’s branding should be consistent with a distinct logo and a brand style guide to follow. Work on differentiating your brand from the competition. Although brand awareness takes time and work, it should not be overlooked.

A business’s brand is critical to its success. Promoting a consistent brand through simple content and memorable graphics has several advantages. Time and study are required to develop a successful branding strategy. Every firm’s approach is different, but building a strong brand will make a tremendous impact on your organization.

Source: Forbes