Branding is dope.
It has always been a subject of deep interest for a lot of business stakeholders –
- marketing teams
- rival firms
- independent business analysts
- credit rating agencies
- stock markets
- the general consumer class etc.
In common parlance, the word ‘branding’ has been restricted with reference to logo or stationery design. In reality, it is all about the communication you make with your audience throughout the marketing process. e.g. use of brand color in your marketing arsenal. color
Branding evokes a sense of image longevity and paints a rosy picture of your business in your customers’ minds. Unfortunately, very few people understand the depth and importance of branding.
And thus we have received some quality opinions on branding from the best in the business.
WE HAVE 4 BRAND EXPERTS FROM MUMBAI, INDIA WHO WILL EXPRESS THEIR INTERESTING VIEWS ON BRANDING BELOW.
I. Eggfirst Advertising
Eggfirst is a full-service, mid-sized ad agency offering end-to-end creative solutions for various business challenges. They are an eclectic collection of thinkers who partner, nurture and build brands passionately. As an advertising agency, Eggfirst follows a holistic brand building approach through an out-of-the-box blend of zany ideas and astute acumen. No wonder they have evolved into branding experts in building beliefs that are eager to nourish and offer their invaluable advice for your brand.
1. Importance of Color in Branding. Is it a very important relation to choose wisely?
When it comes to picking the “right” color, predicting consumer reaction to color appropriateness in relation to the product is far more important than the individual color itself. So if the owners of Harley Davidson buy the product in order to feel rugged, you could assume that the pink + glitter edition wouldn’t sell all that well.
Every color connotes an emotion. White is associated with peace, Red with hot, Blue for calm and so on. Hence, it is vital that the color represents the identity that the brand stands for.
2. Does Branding help in getting user attention and help in increasing the market share? Example -Patanjali would have not existed without Branding.
Absolutely, branding makes a world of a difference. A brand represents the sum of people’s perception of a company’s customer service, reputation, advertising, and logo. When all of these parts of the business are working well, the overall brand tends to be healthy. It helps gives identity to a product. A classic example is the success of Patanjali products.
3. What is the best way to promote a Brand?
Branding is a way of defining your business to yourself, your team and your external audiences. It could be called the business’ “identity”. If you want to build up your reputation in the world, the first step is to make sure people see you. Another important thing to consider is that consumers today are smart and they want to be treated with respect. Therefore, you must have the ability to win people’s brains in addition to their hearts.
4. How do you recommend allocating budget for branding avenues – digital vs offline?
It very much depends on the type of product and target customer. If the target audience is young, it is advisable to have more digital presence. Since youngsters spend most of their time online, the reach is way better. Digital platform has undoubtedly opened newer avenues for brand building. It has come as a blessing for small businesses who can effectively build brands with a limited budget backed by great ideas.
5. When should Branding be started for a new business?
Branding is one of the most important aspects of a business, and often is one of the first large investments a company makes. Simply put, branding is what your customers/clients can expect from your business. A successful brand identity sets your business apart from competition and gives you an edge over others. It establishes you as an expert in your field and builds trust in your audience. I would recommend investing in quality branding from the word go to ensure that you are conveying your message plus your vision in its best light.
6. With a limited budget what is the most effective way to reach your target audience and have them remember your Brand. Let’s say you can’t reach entire India with a budget of 50K so how a Small business with less budget can effectively implement branding.
Simply put – “Right Place. Right Time”. Identify your product use and your audience. Cater to their wants. If you manage to reach only your target audience, your work is done. Once they accept your product, they will themselves market the product for you.
7. How to tell a great Brand Story?
A brand story is more than content and a narrative. Your story isn’t just what you tell people. It’s also about what they believe about you based on the signals your brand sends. Creating a brand story is about building something that people care about and want to buy into. A great brand story will show you how to stand out, increase brand awareness, create customer loyalty and pocket sizeable profits in the long run.For more follow Eggfirst Advertising on Facebook