What is branding?
Branding is a complex concept that is often difficult to define because it is a non-tangible aspect of a company. Essentially, it is the process of creating and shaping a brand in consumers’ minds, which gives meaning to a particular organisation, company, product or service.
Why is branding important?
Branding is crucial to the success of a company because it is what creates a memorable impression on consumers. A strong brand allows your customers and clients to know what to expect from your company and differentiates you from the competition. Branding clarifies what your brand is and what it is not, and gives people a reason to choose your products over others.
Branding is built through marketing efforts, and brand awareness leads to trust. The more recognition a brand has, the more successful it is likely to be. This is why companies invest so much time and resources into building brand awareness. The foundation of acquiring a customer audience is established through brand awareness, which helps people understand and become comfortable with your products and services, thus increasing your brand equity.
For instance, some brands have built such a strong brand awareness that consumers recognise the brand even without the visual aid of a logo, product or brand name. Take McDonald’s, for example. The fast food chain recently launched an ad campaign that achieved an “exceptional” brand recognition score of 98, according to System1. The ad, created by Leo Burnett UK, didn’t show the restaurant or food, but used subtle nods to the brand, such as its iconic red and yellow outfit and the Golden Arches logo, to get brand recognition from the audience.
Similarly, Coca-Cola’s iconic bottle is recognised around the world, and every aspect of the brand has been carefully thought out. The team tasked with designing the bottle was even told to create a bottle that could be recognised “by touch or when lying broken on the ground.” This is just one example of how brand and brand awareness can extend down to the most granular detail, like packaging.
In today’s highly saturated market, it can be challenging to get consumers to pay attention. Brands can no longer rely on being noticed wherever they advertise like they used to in the early days of media. The key to success now is to find ways to be remembered and recognised so that when a consumer need arises, your brand is top of mind.
Why is all this important?
Brand building is an essential part of the lead and sales generation journey because it helps to build trust between you and your potential customers or leads. This trust can significantly increase your conversion rates, even if it may not be immediately apparent.
Here are some of the benefits of having killer brand awareness:
- Improves Customer Trust and Loyalty to Your Brand – Loyal customers tend to spend more money on your product, with research showing that 57% of customers spend more money on brands they’re loyal to.
- Positive Word of Mouth Marketing – Word-of-mouth advertising can improve the overall impact of your marketing campaigns by up to 54%, according to Sprout Social.
- Lower Price Sensitivity – Consumers are less likely to be sensitive to price changes if they trust and are loyal to a brand.
- Higher Advertising Effectiveness on Customers – A strong brand means that advertising efforts are more likely to be effective on consumers.
- Repeat Sales – Customers are more likely to make repeat purchases if they trust and are loyal to a brand.
In conclusion, building brand awareness is a vital part of a successful business strategy. It helps establish trust and loyalty with customers, leading to increased sales and growth. From packaging to advertising, every aspect of a brand should be carefully thought out and executed to ensure maximum impact.
If you need help building your brand and brand awareness, we have an in-house creative team with proven experience in shaping brands that last. Get in touch with the Harrison Carloss team to see what we can do for your business, or check out our previous projects for inspiration.