What exactly is branding?
A basic definition of branding is that it is the marketing practice of fashioning your brand. When I say fashioning, I mean ensuring that your business uniquely identifies itself out of a pack of brands. Branding is a way in which your customers experience and recognize your business. Unlike previous years, branding has evolved so much more than just having a logo. It now denotes the emotional, empathetic response businesses can extract from their customers.
As Jeff Bezos puts it, “Branding is what people say about you when you’re not around.”
For example, the need for easy distanced communication with each other necessitated the invention of the telephone. Some years later we saw the advent of mobile phones. You can now attest that there are over a hundred mobile phone brands worldwide, with each having its unique selling point, advantage, and company beliefs. Some mobile phone brands are costly, while others are less costly. Some mobile phone brands are deemed satisfactory, whereas others are considered flawed. Whatever the case may be, the focal point here is that people already know about different phone brands’ existence. And if they choose to buy one or more of any phone brand, they can consider well-known brands forgetting about brands that are less known by many people.
But, let me give you a quick highlight here. I want you to note that branding is different from a brand. Your brand is your endpoint, or you can otherwise call it your destination, whereas, branding is the roadmap to reach that endpoint. A brand is external and inhabits the hearts and minds of your customers. On the other hand, branding is internal. It encompasses the series of actions you have to enact to develop that brand. Precisely, branding is a verb, while a brand is a noun. To crown it, any action you exhibit to fashion your brand is called branding.
Now, as you have grasped the meaning of branding, let us dive into the central topic of discussion by expanding on the importance branding has to offer for small businesses.
Why is branding so important for small businesses?
Branding plays a crucial role in any business and should be a priority, particularly for small businesses. Reasons for these are as follows: