Let’s face it – branding in today’s age is important despite some businesses lack of acknowledgement to this fact. Those who do spend time and money investing in a good branding strategy for their business, tend to face success and enjoy a higher brand recall along with increased customer engagement. But then again, there are those who do not tend to give as much importance to branding, or rather they have certain misconceptions with regards to branding due to some myths that are associated with it. What are they and do they hold some degree of truth in it? Well, that’s where we come in! Check out the common myths surrounding branding and the truth behind them.
Myth #1: The Expense Is High For Custom Designed Brand Identity
Truth: Absolutely not! While we understand that the initial cost revolved around creating a brand identity is high, since you have to design marketing material, however, let’s not forget to take into account the long-term benefits that you are able to reap in from creating a brand identity for your business. It’s no hidden fact that people tend to hold a certain degree of emotion/attachment with their favourite brands and tend to favor them over competitor products and services. Hence, though the initial cost might be a bit daunting, but the overall benefits that you gain in terms of customer loyalty, repetitive product purchase and overall awareness about your business more than makes up for this initial cost.
Myth #2: Website + Logo = Brand Identity
Truth: No way! A logo and a website are just a small part of your brand’s identity – they are a way for your customers to recognize you and differentiate you from your competitors. But there is more to branding than that – branding extends to your packaging, the way your promote your brand, the personality of your brand, the way you interact with your customers – these and more are all what makes a brand a “brand”.
Myth #3: We Don’t Need A Brand Identity
Truth: Wow now this one takes the cake! OF COURSE you need a brand identity – heck any business who wants to portray themselves as professionals needs a brand identity. How else do you expect your business to stand out? How else do you expect your customers to know about you and what you do? How do you expect to gain long-term and loyal clients? How do you expect to create a niche for yourself in a market that is saturated with similar businesses? Brand identity helps you do that – it allows you to do all that and more! A brand identity is essential to not only to the growth of your business but also towards establishing a certain degree of professionalism.