What is a Brand?A brand is a name, term, product or identity that sets a company or product apart from their competition. These differentiating factors create a unified position in the market so that the brand resonates with its audience and every marketing initiative is aligned. Brands are used in business, marketing, and advertising. Name brands are sometimes distinguished from generic or store brands.
Too often, small business owners overlook developing their branding platform and bypass developing a true marketing plan and strategy. This is often because smaller companies require more lead generation to sustain in today’s market, while branding can seem like a lower priority because it takes time, consistency and investment to truly reap the benefits.
While it may be attractive to jump straight in and start doing PPC or SEO to generate leads, it may also be a huge mistake. There’s no way to truly know how to reach your goal unless you have a strategy. Otherwise, you’re just spending money, hoping for the best and taking whichever job or sale comes your way.
A well-developed brand is what takes a company to the next level. Even when bad things happen to well-known brands, in many cases, people will still use them because they know who they are.
Branding is the key to building your company’s reputation rather than your own, which ultimately enables a business owner to start duplicating himself through processes and his employees.
What Does It Take to Become a Well-Branded Company?
The first step is developing a branding platform. There are various models that people will use with their own theories behind each one; however, I generally break a brand platform down into 14 components.
Every company, including yours, needs a brand platform to establish the brand and guide all branding and marketing decisions. There are many reasons why your brand plays a role in overall company success. You may be asking, what is a brand platform? For marketers, the brand platform is the foundation for every piece of brand communications executed, thus making it a very important responsibility. Before implementing any marketing programs, marketing execs need to be completely confident in their brand platform and its elements.