In running a business, several supporting aspects are needed, one of which is branding. With branding, your business will be easier to be accepted, remembered, and increase sales. Especially in the modern era like now where the use of social media is massive and brand promotion can come from anywhere.
This is what makes branding the right marketing practice to be applied in this modern era.
Then, what is branding, and what are the benefits if applied to business? Sobat BFI, let's discuss one by one about branding in this one article!
What is Branding?
Branding is a strategy to build a business image so that existing businesses can be easily recognized by many people and able to survive in the long term.
Branding is an image that can be implemented with a series of activities related to product promotion and marketing. The word branding itself comes from the basic word 'brand'.
Quoted from the Marketing Association, the word 'brand' means the name, symbol, design, or characteristics of a product or service to be a characteristic or differentiator from others. So, branding activities include giving a brand name, design, and use of certain words can be categorized as activities that exist in branding.
Important Aspects in Branding
In branding, there are several important points that need to be considered so that the application of branding can occur optimally. These points cover the following aspects.
Brand Name
The brand name in branding is the first thing that must exist. Because, without a name, how will people remember the identity of a product? Having a name also makes it easier for people to remember the products you sell with competitors.
Logo
Logos play an important role in branding other than brands. With a logo, anyone will easily recognize your brand or product at a glance. That is why in making a logo can not be arbitrary. The logo made must match the image that the brand wants to highlight, be unique, and give an unforgettable impression, especially for your consumers.
Visual Display
Visual appearance includes several important elements in branding including product design, packaging color, and so on. These existing elements can later bring up the image of a product or brand in the eyes of the public when they see it.
Brand Ambassador
Branding is a strategy to build a good image so that your product is easily recognized. By using a Brand Ambassador who has a positive image and strong power in the eyes of the public, of course, you can help improve your image.
Brand Ambassadors can be chosen from public figures or influencers on social media.
Thematic Sounds or Songs
Voice is an important aspect of branding. The sound referred to here is the theme song (jingle) which is easy to remember and makes anyone can hear it. Sound is also considered to be able to complement the visual appearance of a product or advertisement which further strengthens the product, which is easy for people to remember. The main goal, of course, is to increase product sales.
Words
Branding is closely related to a series of words that can attract consumers and the public. This is where the importance of the presence of a copywriter to string words with a positive and memorable image. The goal is none other than to leave a deep impression so that anyone who reads it can easily remember your ad or product.
Kinds of Branding
Branding is an imaging strategy that consists of various types. Among others, as follows.
Image Source: freepik/rawpixel.com
Product Branding
Product branding is an effort to provide an identity that is expected to influence consumers to choose a brand's product over competitors. This type of branding is the most common branding.
Corporate Branding
Corporate branding is a way for a corporation or company to develop a reputation in the market.
In corporate branding, several things include the products or services offered, to the presence of employees in the eyes of the public. If we go deeper, these two things include the company's vision and mission, marketing, service, website, product quality, design, and so on.
Personal Branding
Personal branding is one of the marketing strategies so that someone has their own image in the eyes of many people. This type of branding is commonly done by public figures, politicians, artists, and so on.
Destination Branding
Destination branding is one way of branding that is similar to product branding. The difference is, in destination branding, it is expected that a place or city can be attached to a brand or product.
So, when someone mentions the name of a city, they can immediately think of your product. This type of branding is commonly used to promote tourism or business in a region so that sales and existing images are more segmented.
A short example is the slogan “Wonderful Indonesia”
Cultural Branding
Cultural branding is one of the efforts to provide identity to describe the cultural characteristics of a region. The culture here can be very diverse, for example certain habits or activities.
Take, for example, the punctual culture in Japan.
Branding Benefits and Purpose
Have you ever wondered why when buying a product people tend to mention the name of a brand rather than the type of product they are buying? Take an easy example when someone buys mineral water. Instead of referring to mineral water, people often call it 'Aqua' even though the product chosen may be different.
Well, from here it can be concluded that the effect of branding is very large for a product. The benefits and other objectives related to branding are as follows.
1. Build a Brand or Company Image
The first benefit of implementing branding is to build a company image that will have an impact on the popularity and recognition of your products by the public.
With this strong branding, it will be easier for your brand to sell the products you have.
2. Give a Unique Impression or Differentiate From Competitors
Branding is a series of activities or activities that are intentionally carried out with the aim of making people know your product easily. Of course, you know that every product on the market has a competitor. Well, this branding will help you to create a character that makes it unique and superior to others.
3. As an attraction for consumers
Still related to the previous goal, the existence of branding that makes your brand unique can be an attraction in itself. And the potential to be famous.
4. Market Control Tool
After carrying out branding activities smoothly or according to plan, a brand will generally be famous and can easily control the market. This happens because the wider community has remembered your brand and this is imprinted in their minds.
Tips for Branding Your Business
Curious about the right way to do branding? You can follow the interesting tips below.
1. Determine the Brand Name
The first thing you have to do to do branding is to determine your brand name first to introduce your brand identity.
Names and meanings that exist will affect the creation of logos, website domains, and brand registration. Therefore, make sure you choose a name that is unique and in accordance with the product or service that will be offered.
2. Creating a Logo
After successfully determining the name, the next step in running branding is to create a logo. The logo is the face of the brand as well as a mediator so that a brand is easy to remember in addition to the brand name.
The logo that is made is not only good and unique but also has to be remembered and reflect your brand.
3. Determine the Characteristics of the Brand or Unique Selling Point
Characteristics or unique selling points (USP) are some important points that differentiate your business from competitors. The USP must not only highlight the advantages of the product but also other uniqueness that other brands do not have.
4. Define the Persona Brand
Persona in branding is a representation or character that is built to bring up a view of the brand.
Later, this persona becomes an important preference or reference when making promotional strategies such as copywriting, videos, content, and so on.
5. Determine the Target Audience
Determining the target audience is considered very important to make it easier for you to sell the products or services offered. Thus, the existing market will be more specific and explore its potential of the existing market.
6. Determine Product Appearance
So that your brand looks attractive and in demand by many people, you must determine the appearance of the existing product. Some of the ways you can make your brand look attractive are by determining the color of the packaging design you choose, the font used, the shape of the packaging, and other elements.
7. Choosing a Slogan
A branding slogan is a tagline that functions as a representative of the vision and mission of a brand. On the other hand, a slogan also has a function similar to a logo, which is to make it easier for people to remember your brand.
Even so, the existing slogan does not have to be permanent. You can determine a new slogan along with the development of the business and existing needs.
8. Maximizing Social Media
To increase audience reach and explore market potential, never forget the power of social media. The reason is, that social media is a promising place to implement various strategies. From social media, you also have the potential to get loyal customers.
How to Get Additional Capital For Your Business
Interested in implementing branding in your business but lack capital? Don't worry, you can still run it by making a loan at BFI Finance.
The process is safe, easy, and has been verified by OJK (Financial Services Authority). You can apply for a loan for your business with an adjustable choice of collateral. Are as follows.
Disbursement of funds up to 85% of the value of the vehicle and a tenor of up to 3 years.
Loan funds with a fast process and a maximum tenor of up to 18 months.
Low interest starts from 0.9% with a long tenor of up to 48 months.
Sobat BFI, the information related to Branding is Definition, Types, and Tips for Doing it. Hopefully, this article can be useful as well as a guide for the sustainability of your business in the future. Business greetings!
Check articles and other interesting information on the BFI Blog.
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