Before any business can begin to think about branding they should understand what it is. While there are many definitions out there, the one that makes the most sense to me is that branding is “The process involved in creating a unique name and image for a product in the consumers’ mind, mainly through advertising campaigns with a consistent theme. Branding aims to establish a significant and differentiating presence in the market that attracts and retains loyal customers.” (What is branding? Definition and meaning, n.d.) Branding is a way to solidify your name, logo, or likeness in the minds of the consumer. Just like when most people think of soda, they automatically think of a large soda company located in Atlanta, GA or one large soda company located in North Carolina, you too as a small business can develop your brand so that people associate you with the product or service you deliver.
But why do you even want to build a brand? Will it not take a lot of time, effort, and capital to slowly build your businesses brand? Yes it will, but as Lake (n.d.) explains “A strong brand is invaluable as the battle for customers intensifies day by day. It’s important to spend time investing in researching, defining, and building your brand. After all your brand is the source of a promise to your consumer. It’s a foundational piece in your marketing communication and one you do not want to be without.” As a small business retaining and expanding your customer base is very important, and building your brand will assist in customers returning to your product, and getting to word out to new potential customers.
When creating your brand there are key objective to follow in order to create something that will last. As Lake (n.d.) explains you want a branding that “delivers the message clearly, confirms your credibility, connects your target prospects emotionally, motivates the buyer, and concretes user loyalty.” It is important to understand the needs of your customers which is where market research comes in to assist in the branding process. That emotional tie is also very important. Your brand wants to make people think of the good times they have along with the delivery of your service or product. While branding is not something many small businesses consider as an important step in a successful business, it is key when you want growth and customer loyalty to what you have to offer in your local marketplace.
What is branding? definition and meaning. (n.d.). Retrieved November 22, 2014, from http://www.businessdictionary.com/definition/branding.html
Lake, L. (n.d.). What is Branding and How Important is it to Your Marketing Strategy? Retrieved November 22, 2014, from http://marketing.about.com/cs/brandmktg/a/whatisbranding.htm
CPT Adam Renkiewicz is a Civil Affairs Officer in the United States Army, and an aspiring business owner. Adam is also currently enrolled in the Master’s Degree in Entrepreneurship Program at Western Carolina University. Webmasters and other article publishers are hereby granted article reproduction permission as long as this article in its entirety, author’s information, and any links remain intact. Copyright 2014 by CPT Adam M. Renkiewicz.