Is branding good for your business? Learn how to brand your product and services. Find out why you should build branding and what the benefits are for your business
How to brand, why branding and should I brand at all, are all very valid questions to ask if you sell your own product or service.
If you do then giving them a recognizable brand name and logo can, over time, increase their value and the value of the brand itself.
And that’s got to be good for your business, hasn’t it?
Well, let’s look at the process and the expense involved.
Recognizable Branding = Quality & Value
Before we move on to how to brand, let’s look at some of the reasons why any business should want to brand their product or service.
You brand as part of your advertising plan, a part of the impression you need to create for your business name, product or service.
With a good brand image, your product or service becomes associated with quality and value. A good position to be in for any product or service as well as a valuable one in a competitive market sector.
Powerful Branding will drive your product or service to success, but learning how to brand, to achieve a powerful brand, needs work, lots of work.
What you need to be able to brand.
- A business that is up and running with long term potential. Branding products or services is for the long term, if you are to succeed.
- Goods or services that are in demand or are likely to be, preferably ones that stand out from the competition.
- The resources to be able to advertise, promote and market your brands. This can be expensive as not only do you have to create a brand, you also have to maintain the brand.
- You need to be prepared to protect your brand against theft or competing brands. You need to trademark and register your brands, slogans, brand logos, advertisements and marketing materials. Protect your proprietary patents, copyrights, trade secrets and all intellectual property.
Why brand, you might ask yourself?
Is it really worth all the trouble? Yes it can be very worthwhile, so learn how to brand. Here are some of the major benefits of branding.
Obviously the value of the brand name itself is a good incentive to develop and protect your own brands.
Using one good well known brand name to advertise a subsequent newly branded product can be worth a great deal.
- For example if something is advertised as being manufactured by the makers of Mercedes cars, it instantly has perceived quality and value.
- As you build more brands your old brands help advertise your newer brands.
By branding a product or service, you effectively create a monopoly of your brand. Similar products can be produced but none of them can bear your brand name.
As protection against competition in an increasingly global context, competition can come from anywhere and quality or superiority of product is no longer a protection. Branding products or services makes them defendable.
Many brands, of similar products manufactured by the same manufacturer, on the same supermarket shelf are all competing with each other, but also help keep out competitors trying to enter that market sector.
Competition amongst your own successful brands can increase your overall market share.
In an ever competitive world, branding is one way of helping you increase sales and at the same time protect and extend the lifecycle of your product.
How to Brand Your Business, Product or Service
Say you have decided to manufacture a widget. You think that it will have great potential and be popular worldwide if branded and marketed properly.
So how do you start branding that widget?
First Get The Name Right. Be it a product, a service or the name of your business, getting the name right is important, in fact very important.
- Decide what makes your product unique, what owning it will do for people What name will instill confidence, optimism and be difficult for the competition to trump.
- Brainstorm various suitable names, how will they look on TV, on billboards, at the cinema?
- Will they sound right on people’s lips, on the radio and in print?
- Is the meaning of the name offensive (check transaltions in other languages)?
Next Secure Your Online Brand. Once you have your name you must secure the corresponding internet domain name.
- If the domain name isn’t freely available, try to purchase it from the present holder.
- If you can’t then drop that name and look for another.
- This is important; in the modern World you cannot market a brand name without owning the corresponding domain name and securing your online presence, preferably in all countries and all tld’s (ie; the domain name suffix .com .net .us .co.uk .de etc)
Build a Slogan around your name. Once you have chosen a great name and secured the domain name you then move on to selecting a slogan for your brand.
- Branding your product or service includes thinking up slogans that match that brand name.
- Think of what your brand promises and come up with a slogan that reflects those values.
- A slogan shoudl say what you are selling.
- Make it short (4 or 5 words), sweet and to the point.
- Make it memorable … see famous-advertising-slogans
Design a Logo … Add to your branding efforts by designing a bold and beautiful logo.
- A good logo gives the impression that it fits the brand product or name.
- If you are selling running shoes, your logo needs to give the impression of speed.
- Use professional logo designers when coming up with different brand logos, but always remember one thing. Test your logo designs on real people, before you finally decide on the one.
- If your test group say that all your logo reminds them of is a tortoise, you better change it or you won’t be selling running shoes.
Branding is the art of getting potential customers (that’s real people), to automatically associate your product type or market sector with your brand name, slogan and logo.
- A good strong brand in itself produces free advertising.
- When people read your name, hear your slogan or see your logo, they must know instantly what it represents.
- Achieve all the above and you will have successfully branded your product or service.
Learning how to brand for best effect is a continuously evolving process of test and exposure of your brand to the World.
Your brand name should be built up over time, by investing in advertising your brand, your slogan and your logo.
The establishment and protection of good brand names does not come cheap.
But the equity value of a good brand name can be worth many times more than the annual earnings of the business itself. Protect, protect, protect.
Protecting Your Brand Name Property.
Developing and building any new brand is time consuming and very expensive. Your competitors will be only too happy to ride on your success if you allow them.
To prevent this, you must protect your brands, slogans and logos from the very moment that you decide to use them. That means before you introduce your brands to the world.
This protection is vital, so take note.
Branding of good products or business names is definitely worthwhile and doing so can add substantial value to your business. Take the time to learn how to brand effectively, it’s management time well spent.