Common Myths About Branding
Whether we realize it or not, we all have instant brand recognition. Stored memories and experiences contribute to an unforgettable first impression and we tend to make quick decisions about products and businesses. In our current competitive marketplace, every business needs a brand. But not just for recognition. Companies need brands for differentiation, too. Here are some common myths about branding:
1. Branding isn’t necessary
If you are really the only company selling fish hooks you might not need to build a brand. But chances are a quick online search will reveal many businesses that sell the same fish hooks at the same prices in your very location. Branding gives you an opportunity to set yourself apart. If your business offers the same products at the same prices but, in addition, has friendly customer service, the best shipping rates and a knowledgeable sales force, you want your brand to convey those qualities. Your brand equals quality, loyalty and trust.
2. We already have a logo, isn’t that enough?
While a company’s logo is an important part of branding, it is not all of it. Your branding is in the details of your entire customer communication plan from the “sale” sign in your store window to your invoices and your website. Your customers are paying attention. If your store front is a mess, your invoice is confusing or inaccurate or your website doesn’t provide enough information, your customers won’t be confident in your products.
3. Branding is expensive
Don’t think about branding as a one-time investment. It’s not about a quick logo redesign or a color palette change. Because the essence of your business and your brand are one in the same, you are really investing in the success and longevity of your company. And since a good experience with your company and your brand triggers repeat business, it is a sound investment to make.