Have you ever wondered what makes organizations like Apple, Nike, McDonalds and Coca-Cola stand out?
Is it their wide-range of products, world-class service or something more?
Well, factors such as products and services do matter, but what makes these brands break the clutter is their distinctive and thoughtful Branding.
But what actually is Branding? If you google the word, you’ll end up falling into a rabbit hole of a lot of information and misinformation. All thanks to this scenario, Branding has become sort of a mystical word, with popular misconceptions, by and large, ending up defining its true essence.
It’s high time we demystify what Branding really is, and what better way to do it than busting some of the most widely-popular branding myths. Let’s begin then, shall we?
Myth 1: Branding is just another name for Advertising
This myth has been around for a really long time, and most people still can’t tell the difference between Branding and Advertising.
Advertising essentially is a tool which companies use to sell their products or services. It’s goal is very specific – generate maximum sales in a given period of time and achieve the optimum Return on Investment.
Branding, on the other hand, is a much more broader concept. It can be defined as a mix of the perception of an organization created in people’s mind, the emotional impact of it and the core values which reflect the organization’s nature.
It would be safe to say that Advertising is one of the many factors which contribute to the Branding of any organization.
Myth 2: Branding is all about Logo and Colour Scheme
An unique logo and an attractive colour scheme does wonders to help a company create a memorable identity. It acts as a critical driving force in the journey of making an organization an iconic brand.
However, branding encapsulates a lot more than just colours and symbols. Branding takes into account what the company actually stands for, the kind of people who associate with it and also the various types of products/services that the company offers amongst several other factors.
It’s quite impossible for a logo or a set colour scheme to reflect such diverse factors.
Logos and colour schemes can be a great start-point for the overall branding process, but should definitely not be the end-point.
Myth 3: Branding is not needed for ‘our’ kind of business
Earlier, only medium to large-scale businesses cared about transforming their company into a Brand, while small-scale industries and startups focused more on the day-to-day operations, keeping branding at the bottom of their priority. And until a few years ago, this made sense.
But it’s 2021! And with the world turning digital faster than ever, branding has not remained an exclusive or an optional thing. It has now become one of the most important aspects for any business – be it small or large, B2B or B2C.
Companies have started to realise that a solid branding strategy helps increase the intrinsic value of the business and aids trust building amongst customers, which in turn helps increase sales and revenues.
Myth 4: Branding is a costly affair
People tend to look at great brands and wonder, ‘‘Wow, they must have spent a bomb to make their company a Brand’’.
While it’s true that big companies allocate a considerable chunk of their overall budget towards branding, money constraints shouldn’t stop you from trying to build a Brand for your company.
Start small, define your target audience, understand what your customers like and don’t like, and begin crafting your branding strategy, step-by-step. Slowly but surely, people will notice your work and start to choose you over your competitors. What else do we all want?
Myth 5: Creating a Brand is a One-time job
Most business owners believe that once they’re able to successfully create a distinctive Brand for their company, the job is done once and for all.
Branding actually is an ever-evolving process which reflects the sentiment of the company, its immediate needs and goals and the company’s perception for a specific period of time. Hence, constant efforts need to be put in to make sure the branding of the company is truly reflective of the current pulse of the company.
Though this seems like a lot of work, if one actively participates in brand development on a regular basis, branding work stops feeling like a daunting task.
And the compound effect can be a legendary Brand which people can’t help keep coming back to.
Myth 6: Branding is meant only for External Stakeholders, not Internal
Customers hold the key for any business’s success. However, branding strategy designed keeping only the customers in mind, will only work to a certain extent.
Internal stakeholders such as employees, leadership team, investors and shareholders are actually the ones who make the Brand, they’re your company’s true ambassadors. And hence a whole-some branding effort should definitely include these stakeholders’ participation.
For medium to large-scale companies, getting on-board a brand identity design company may come in handy to implement this tactic seamlessly.
Myth 7: Our marketing team will take care of Branding
Branding is a vast subject involving diverse elements of advertising, human psychology and philosophy. A specialized skill set as well as related experience is a must to create and implement a branding strategy for any company.
Hence, directing the responsibilities of branding services to the marketing team of your company is most likely to yield ineffective results.
The solution to this? A brand identity design company should ideally be given the crucial task of Branding, which also allows the marketing team to focus on their core duties.
Hope this blog helped you de-mystify Branding and was able to provide clear information on what it actually entails.
Please keep in mind that many marketing agencies nowadays consider themselves as Branding Experts by default, not differentiating between Branding and Advertising.
In case you’re looking out for a specialized branding agency in India, I would suggest you look no further than Litmus Branding – a leading branding agency in India. With over 2 decades of experience in building memorable brands across industries, Litmus Branding is right up there.