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Definition of Branding and Why it’s Important

The Beginning of Entrepreneurial Greatness

If you are to be successful in promoting either yourself or your business you must understand what branding is.  Knowing the definition of branding and why it’s important is a good start, and this article will help you in getting a better understanding of branding.

There is nothing quite as exciting as having a business or vocational dream, idea, and/or vision, and then through the consistent personal labor that goes into planning and starting a business, a person is able to successfully launch their own company. It is one of the most fulfilling experiences someone can have in the workplace – to own their own company and to be at the helm of steering their company to its success. As with every worthwhile endeavor however, there needs to be proper planning nowadays more than ever, and a large part of that planning involves the securing of your company’s online presence. Aside from all of the fairly standardized processes that surround business administration practices that go into planning and launching a business, one of the most often overlooked but most important tasks in the business planning process is that of choosing a company name and charting out its branding strategy.

Definition of Branding in Simple Terms?

By definition, a personal or company brand is an articulate set of both internal (company staff) and external (consumer and public) perceptions, company statements, and images that represent a company, a product or a service. In many cases, the brand can be a combination of all three – the company, its products, and its service.

When is comes to a company brand, a brand encompasses the logo, the slogan (or tag line), audio jingle or video clip that causes an individual to recall in a positive way, the person, company, product or service it represents; however a brand takes in much more into account. A brand is at the very core of an individual’s or company’s public persona. It is an intangible covenant if you will, with the public of the products or services it provides and delivers to the general public. It is a mental connection with the consumer of what they will experience or what will be delivered to them if they choose to do business with that brand (person or company).

Brands are the identity of the company to the public that appeals to their intellect and/or senses. It allows a buyer to easily recall and identify the reputation and offerings of a particular company. Brands are generally developed over time through various channels like that of repetitive advertising messages, recommendations from family, friends, and peers, direct interactions with the company’s representatives, or the most important being that of first hand real life experiences in using the service or product of a company. The time it takes to fully develop a brand is dependent on the strategy that is taken to promote it. And, starting out with a name and logo that most accurately identifies who you are and what you do is among the most important steps in building your brand.

Aside from the importance of developing a strong brand that will provide an umbrella under which a wide range of products and services can be offered, good branding strategy provides leverage in producing awareness for a company’s products or services. A strong brand also provides a strategic advantage over competition in things as simple as sight recognition of a brand and positive trigger response mechanisms that lead potential customers away from the competition and to a buying decision for the company that has a stronger  brand recognition.

Action Point: Always strive to have a strong, easy to remember, and oftentimes catchy name for your products, services, and company. If you use your personal name, always see that it is only associated with the very best of associations, and that your public persona will always complement the level of integrity you desire to be known for. If you plan right and take the time to think things through, your personal or company brand will be your secret weapon against potential competitors that may seek to move into your chosen market and attempt to take market share from you.

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