Your branding is the one of the most important if not THE most important element of your marketing strategy. For potential customers who might not have heard of your business before, your branding will represent the first impression they get of your company and will ultimately impact their decision on whether or not they choose to buy from you. When you think of successful brands who have become well known around the world, they all have one thing in common. Not only do they have eye catching logo’s or design styles, but their branding is also clear about what it is they offer and what customers can expect from their products. For example, the Nike logo has become synonymous with high quality sports wear and is so entrenched in modern culture that you only have to see the famous Nike tick to know exactly what kind of product your buying and what to expect.
What is branding? and what does your brand say about you?
Your branding incorporates many different elements which combine to convey the way your business is visually portrayed. It’s long been a common misconception that your brand is simply reflected in your own logo, however in actual fact, your brand includes everything the company does that helps to create its own unique identity. For example, everything your company publishes on social media or the tone of voice portrayed through your promotional content both online and offline, will all help your customers build a picture in their heads about what it is your company offers. This is particularly important if you are a new company as research suggests that almost 50% of consumers suggest that they consider becoming more loyal to a brand during their very first purchase.
The importance of staying consistent
Over time your company’s branding is likely to evolve and it is always important for businesses to adapt with the times in order to breathe new life into their brand. One thing all businesses should take into consideration, however, is the importance of not alienating your existing fans/customers by constantly changing your product in order to appeal to a wider audience. If customer’s buy into what your brand is offering, they are far more likely to stay loyal and keep coming back time after time.
A good example of this involves Coca Cola, one of the biggest and well-known brands on the planet. Back when Pepsi first burst on the scene as a direct competitor to Coca Cola, they gained publicity through an ad that depicted randomly selected people sampling Coke and Pepsi in a head-to-head blind taste test. Pepsi’s slightly sweeter taste proved more popular with many of the people shown in the ad, which provoked Coca Cola into bring out a new version of their classic drink named “New Coke”. New Coke was sweeter than original Coca Cola and proved very unpopular with fans who actually preferred original Coca Cola’s slightly more bitter taste. This prompted Coca Cola to go back to their original product which they re-released as “Classic Coca Cola”. In the end Coca Cola learned from their mistakes and were able to come out on top through clever rebranding.