Anna works in a medium-sized goods and is telling a new business partner who’s in the department. Listen again and complete the sentences from the dialogue Representatives of 3 companies – a bank, a budget airline, and a car company – are giving the presentation on their companies. Listen and make a note of each company’s brand value Which company is the bank, which is the budget airline, and which is the car company? Billion-dollar brands • There are fifty brands in the world which generate one billion dollar’s worth of sales. • The category with the largest number is the technology industry. • Three beverage brands, three luxury brands, four retail companies, seven financial services industry, five automotive companies in the list. • Leisure, restaurants, apparel, telecom, alcohol, tobacco, diversified, consumer packaged goods, business services, transportation also feature. • Can you name any of these brands? • The 2020 World's Most Valuable Brands (forbes.com) Look at the adjectives below and write down a company or product you associate with each one. Cambridge Dictionary What is Branding? • In essence, branding is the practice of differentiating one business from another through a name, logo design, story, messaging, and so on. • Just like a business, any product can become a brand. This is known as product branding. Companies may sell similar products and services, but depending on their branding, they can attract completely different customers who feel connected to their brands for specific reasons. • Branding is the associations your customers have while interacting with your business, its products, and services. Each interaction shapes those associations; the buying decision is not solely based on product features. This is why customer service and social media presence are key factors in branding, as they form a relationship with customers. • Negative associations can sometimes arise when you least expect them to. Why is Branding Important for Your Business? • Make Your Company Recognizable • Build Trust With Customers and Stakeholders • Gain Competitive Advantage • Connect With Your Audience on an Emotional Level • Create Employee Satisfaction and Attract New Talents Make Your Company Recognizable • each brand has a unique personality and a visual identity. Giving your products/services distinctive characteristics, you help them stand out among other similar offerings. • https://youtu.be/m7jWKWcLpp4 Build Trust With Customers and Stakeholders • People tend to trust brands that stay loyal to their promise and values. The more trustworthy your brand is, the more likely you are to gain returning customers. • Make your value proposition loud and clear and stay true to it with every social media post, product design, and customer service interaction. It is the fastest way to build a solid brand and grow brand awareness. • https://youtu.be/vUkO6Gh3w6g Gain Competitive Advantage • Why do people choose one product over another if those are almost identical? The answer is product branding. It’s a fact that consumers are interested not only in product features but also in the story and feel of the product. • To demonstrate this, let us ask you a question. How do you choose between two identical chocolate bars? Chances are, you’ll go with the brand you already know and love. That’s exactly what every business is trying to achieve with its product/service marketing. • https://youtu.be/mTLz1xpF1FA Connect With Your Audience on an Emotional Level • Every brand needs a story to transfer its messages and values to the audience. Creating an emotional bond with your audience is one of the most important branding strategies, if not the most important one. How do your customers feel while interacting with your business? Those feelings will define you as a brand. The top brands have broken this code. • https://youtu.be/1SwFso7NeuA Create Employee Satisfaction and Attract New Talents • Finally, having a strongly developed brand will increase employee satisfaction and attract the best of talents. A happy employee will strengthen your company and help to maintain a positive brand image. 7 Components of a Brand Style Guide • 1. Brand Message and Values • 2. Brand Personality • 3. Logo Design • 4. Tone of Voice • 5. Typography • 6. Color Palette • 7. Images, Videos, and Graphics 1. Brand Message and Values • A brand message is a way to connect to your target audience. It’s the core of what your business is and does, and thus, should be reflected in every piece of content you share. With the right brand message, you can inspire and persuade customers to choose you. 2. Brand Personality • Your company’s personality is the way you embody your brand message. Brand personality helps you connect to your audience on an emotional level and makes you different from your competition. 3. Logo Design • Company logo is a symbol associated with company and is the face of brand identity. • Branding statistics show that 75 percent of customers recognize a brand by its logo. What comes to your mind when you see a bitten apple or a mermaid? 4. Tone of Voice • If your brand had a human voice and ability to speak, what would it sound like? What words and phrases would it use that are unique to its personality? Defining your brand voice will help to solidify your aspired brand image in the minds of your customers. • https://youtu.be/yS5moyAsyKo 5. Typography • Typography is another key player in branding. It extends your brand’s visual identity also to include text. With the right typography, you can have a more lasting impact on your audience. Each font has its own character, so by picking one, you attribute those characteristics to your brand. 6. Color Palette • Never underestimate the power of colors. Colors convey certain emotions and feelings, so you need to find the right ones. Choose 1-3 primary colors and a few secondary ones to complete your brand’s color palette. Add the color specifications to your brand style guide, and don’t forget to address the recommended combinations as well. 7. Images, Videos, and Graphics • Another inseparable part of your brand is the visuals you create and distribute across your website and social media. How to stand out when so many companies use the same stock images and videos to promote their products/services? By being unique and creative.
