What is branding actually?
Lets' understand branding in details, from the definition, people perception, the importance of branding, the effectiveness of branding, and most importantly, how can branding help your organisation.
There are many perspective of defining a brand. To common people what the word brand itself refers to logo, or a name, or a design.
But what is the real meaning of branding to organisations?
To corporate, Brand is an asset, a trademark, value that they are willing to pay on their balance sheet.
For us, the way we define Branding as follow.
Brand is a medium used to inform consumer who you are, what you offering, what make you different and how much you literally worth.
If you haven't use it to properly, you might want to consider to start thinking about it, give it a refresher or rebranding. To help you out, take this chance to ask yourself.
What does your BRAND means?
What is your Brand? Is it a name or brand? We hope by now you know the difference between NAME vs BRAND.
What do people about you, or they just know you by you name but do not know things that differentiate between you and your competitors. Sooner or later, you will end up in the price war situation.
Example of Branding in Singapore context, what is the difference between Singapore Airlines and other National carrier?
“Singapore Airlines – A Great Way to Fly”.
Do you believe their message?
Having a strong command of brand that they build over times, people can recognise and associate Singapore Airlines with service excellence, top safety airlines, customer first.
They do not need to hard-sell their seats. SIA drives good revenue to the company, and people feel proud to own part of the shares of SIA.
Effectiveness of Branding
We have gone through the importance of branding and show you example about branding example.
Some of you might be asking, does branding applicable to my low ticket price items where you are attractive enough already to the consumer out there.
Is it true that by having low price items, you do not face competition of similar price range of products?
Think of Xiaomi, there are hundreds and thousands of other similar products price range. Then what are the things that differentiate their products and others? It must be the BRAND.
XIAOMI-MAKING QUALITY TECHNOLOGY ACCESSIBLE TO EVERYONE.
We have covered how branding has helped organisations irregardless of their size, the product prices, achieving their goals and expanding from one achievement to another achievement.
Key takeaway: Start Activating Your BRAND.
As brand creator we typically work with organisations looking to start giving meaning and value to the brand. If you looking for Brand Refresher (Re-branding) or creating New Brand or Product line, we are more than happy to strategise for your branding journey. Please contact us if you find this useful.