25 Jan Elements of Branding
The Importance of Branding
Do you want to know how successful companies become household names? The answer is simple: Branding.
Many get intimidated by the word “brand” and think it only applies to large companies, when in reality, every business, product, and service out there has to have one. Branding is how your audience perceives what you are offering them; it is the sum of all functional and emotional assets of the product, service, or group. A successful brand can turn a simple product into a household name. (Think Colgate, Coke, Kleenex, Xerox, etc)
Elements of Branding
A brand identity consists of integrated components such as the name, logo, key colors, the application of the elements. Each element plays a crucial role in forming the right message you bring to your consumers.
The name is the most important part of your corporate brand. The name you assign to your product or company should represent what you stand for. Your name should be unique enough to make it stand out, yet not so outlandish that it will be hard to retain or pronounce. Keep it short, concise, meaningful and special to you.
How do you figure out a good name for your business? Larger firms hire linguists while smaller firms rely on their first-hand experience with the product or the service they are selling. Some naming trends use eponyms, or having names with Greek and Latin roots; those who had descriptive names that tell the nature of their business; while others are pure abstractions like Google and Blackberry, both of which do not connect to the nature of their service at all.
There are four basic categories business or brand names fall into:
Literal Names – It describes the company or product with words common to the category; it can also be an acronym or a founder’s name.
Synthesized Names – Synthesized names are coined names or a combination of words. It can also be derived from Latin or Greek roots.
Metaphorical Names – This type of name creates an association to the company or product. It uses its name to effectively position your product or service to the market.
Hybrid Names – Hybrid name is a combination of the other three types, often literal and metaphorical.
The challenge here is to find something SPECIAL, a simple google search can help you check if the name you have chosen is unique enough. I suggest to also check if your name choices have available domain addresses as well to prevent duplication or confusion with another existing website.
Studies have shown that people relate faster to image than text. Although your brand name is extremely important, a complementing logo should go with your name. Your logo should be able to summarize your business in a creative, compact, yet efficient manner. Every detail counts in creating your logo because it is the face of your business. Here are the different types of logos. What type of logo do you have?
Symbol or icon – This type of logo represents your company in an abstract image that conveys either a hidden, subtle meaning or an upfront, obvious one.
Word mark – This is the type of logo that uses the brand name creatively. Oftentimes, customized fonts are used in the making of a word mark logo. A lot of word mark logos became iconic because of the way it was stylized.
Letter mark – The letter mark type of logo relies on good typography. It uses the initial or certain letters of the brand name to create visually relevant symbol that represents the company.
Combination mark – Coming from the name itself, this is the type of logo that combines the work mark and symbol types.
Consumers have a first impression of sight memory for products within 0.67 seconds. And the first impression, which often comes from colors, dominates 67% of the purchasing process. Furthermore, when consumers see a product in a color they like, they are more inclined to try that out. It is no secret that companies use the psychology of colors to affect their consumer’s purchasing behavior.
Each color invokes a psychological and emotional message. The color you choose should reflect the overall message you want to relay to your audience. For example, blue, a color that mostly represents trust, is often used by government agencies, hospitals, banks and schools, while red, a color that stimulates the appetite is often used in restaurants or fast food chains. The meaning behind the colors may not be explicitly noticeable to the bare eye, however, it has been proven in numerous studies how colors can affect how your target market perceives your brand.
Take this time to think about that product or service you are offering. What is your main message? What “feeling” do you want your consumers to have when they use your product or service?
Now that you have created your name, chosen a color, and designed your logo, the most crucial step is to apply your branding across print and digital media. This step is called brand strategy, which answers the what, where, when, and how in communicating your brand to your market. A successful brand strategy ensures consistency and creativity. In whatever activity, event, promotion, and post you publish, keep your theme consistent through your copy-writing, design, and overall messaging.
You’ve experienced first-hand how powerful branding is— take note of the way you choose what food to buy in the supermarket or what clothes you pick to wear to work. Branding influences the choices people make everyday. You can only go as far as create a brand for your company, however, it is the consumer that defines the branding you give to them. Do not depend on the creation of the logo and a few splashes of color in building your corporate brand. Your holistic branding should reflect the values, the products, its production, and everything else your business stands for. The experience of your brand determines whether or not your consumers will continue to engage with your product or service. A successful strategy can make or break your launch into the market.
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