A brand is a feature or just set of features that helps in distinguishing one roof installation business or company from the next. A typical brand consists of a name, tagline, logo and symbols that represent the voice of a company. It refers to the overall experience a customer undergoes when interacting with a business. Branding refers to the process of researching, developing and applying distinctive features or a set of features to your organization so that customers can begin to associate your brand with products or services. Ideally, branding is an iterative process that requires getting in touch with the heart of your customers and your business.
Importance of branding
Your brand is arguably one of your organizations most prices assets. It helps in giving your organization its identity and makes your business a memorable one. It helps in encouraging consumers to buy from you and supports other activities in a business including marketing, advertising as well as bringing employee pride. Branding can be a deciding factor for consumers when it comes to making a purchasing decision. Branding helps in giving a business its identity beyond its products and services. It gives consumers something to relate to and connect with. It also makes a business memorable.
When it comes to branding, there are key terms you need to know.
Brand awareness refers to how familiar the general public is with your brand. High brand awareness leads to brands being referred to as trending and popular. Brand awareness is important because consumers can’t consider purchasing from your brand if they are not aware of it. Another key term is brand identity. Brand identity is the personality of your business and the promise you make to you customers. It is what you want your customers to walk away with after they have interacted with your brand. Your brand identity will typically consist of your values and how you communicate your products and services to your customers.
Brand management refers to the process of creating and managing your brand. It includes managing the tangible elements of your brand, style and guide as well as packaging, and the intangible elements on how it is perceived by your target audience and customer base. Your brand is a living, breathing asset and should be managed as such. Another important aspect is brand recognition. Brand recognition relates to how well consumers can recognize and identify your brand without seeing your business name through logo, tagline, packaging, advertising among others. This concept goes hand in hand with brand recall, which is basically the ability to think of a brand without any visual identifiers.
There is also the element of brand trust. Brand trust refers to how strongly customers and consumers believe in your brand. Do you deliver on your marketing promise? Do your sales people and customer service go above and beyond to deliver according to expectations? There is also the aspect of brand valuation. This is the commercial valuation of your brand that is derived from consumer perception, recognition and trust. This concept goes hand in hand with brand equity. A powerful brand can make your business invaluable to investors, shareholders as well as potential buyers.