A major number of the people I know owning a small business believe that branding a corporate identity is but an extra expense or a luxury that only big companies can afford or ought to spend money on. In fact, they don’t even see the significance of it. They end up learning its value the hard way. The obliged question here remains:
Is branding an expense or an investment?
Well, let’s think of the word branding; it is derived from the act of branding animals, especially cows, in order for farmers to differentiate their assets and therefore to avoid loosing their business. The concept has not changed at all. When you brand your product, it means you are differentiating your assets from those in the market. You are protecting what it is that makes your product/service so special. Hence, you are investing in your business. In fact, the more you invest in your brand, the more it gives you in return.How is branding an investment?
The more your brand is differentiated, the more you get people’s attention, the more you achieve brand awareness, the more you reach out to people and to new markets.If you have a nice and neat product that you have put great effort and money in, but nobody knows about, or nobody notices, it would be as good as a bad product on the shelf. While a differentiated product with a branding that reflects its core qualities will live on and shoot up the sales.
A good branding and a nice design are the main reasons people buy the product in the first place. They are attracted to it, they think it looks pleasant, and “if looks good, it might taste good as well”, they would think. In fact, I have learned over the years that people don’t buy the product, they buy the brand. This shows us that investing in your brand identity is not an option, it is a must, if you want your business to thrive.
Author: Lama Lawand