9 Important Branding Terms You Need to Know
Did you know that consistent brand representation will increase your revenue by 23% ? The impact of branding for any business is indispensable. Yet business owners should understand that branding goes beyond using the logo design.
Branding comprises a variety of terminologies and concepts. Knowledge of these terms will guide you in creating a relevant brand message. Once you understand the common brand terms, the branding process will feel less complex.
It’s almost impossible to list all the terms used for branding. Here are the top branding terms that you need to know.
It is essential to know the definition of a brand to help us understand other branding terminologies better. Branding refers to attributes, whether tangible or intangible, that create value for customers and the business. In simple terms, a brand is the physical representation of an organization's values and offering, which can exist in a consumer's mind subjectively.
A brand is how you want people to perceive your business. It's an actual business asset that goes beyond the logo. A brand should trigger memories that prompt customers to make repeat purchases.
2. Brand Message
Brand messaging is the artful use of words to communicate your brand's value to prospective customers. The brand message refers to the brand's value proposition, which is then conveyed to the target market through brand personality. The communication can be verbal, non-verbal, or through the product offering.
A brand message encapsulates your brand's core elements to appeal to potential customers. The storybrand certified guide is a great resource when developing your brand message. The last thing you’d want is to confuse your target audience with an unclear brand message.
3. Brand Awareness
Brand awareness is one of the standard branding terms that you can’t afford to ignore. Brand awareness is the extent to which potential customers recognize your brand and associate it with particular products. If people know your logos, products, and colors, you can confidently state that your brand is gaining awareness.
If you want people to know your products, you need to invest in brand awareness. Failure to include brand awareness in your strategy will make you lose business. Steps such as influencer marketing and branded infographics are amongst the ways you can build brand awareness.
4. Brand Strategy
Brand strategy is a branding terminology that refers to a long-term plan aimed at developing a successful brand towards achieving specific goals. The brand strategy connects to the competitive environment, the needs and emotions of consumers. It acts as a guide for partners and stakeholders besides clarifying the brand value to customers.
Brand strategy is often a collective term for your brand's core values, selling proposition, mission statement, and positioning statement. These pillars should form your goals and objectives. A strong brand should have a clear brand strategy that helps to achieve the set goals.
5. Brand Identity
Brand identity is the brand's visual elements comprising the logo, design, and color, which helps distinguish and identify a brand in customers' minds. A brand identity communicates about your brand position, value, and products. In essence, it's more like your business personality and the promises it makes to the customers.
A Facebook post with a visual element such as a photo generates 53% more likes than a text-based post. This figure shows the extent to which the visual aspect of your brand is essential. The right brand identity will provoke interest among potential customers besides leaving a lasting impression on your target audience's mind.
6. Brand Ambassadors
Brand ambassadors are amongst the branding terms that you’re likely to encounter in your branding journey. A brand ambassador refers to a person representing your product or brand. Brand ambassadors can be your employees, salesperson, social media influencers, or even a celebrity.
Companies tend to hire celebrities as their brand ambassadors due to their already massive following. Influential brand ambassadors will increase your brand awareness through their social media platforms and word of mouth. The ambassadors you choose for your brand depends largely on your branding and advertising goals.
7. Brand Equity
In its broad definition, brand equity is a brand's reputation. Brand equity refers to a brand's value, often determined by the perception of consumers. If your target audience ranks a brand highly, that's positive brand equity.
Conversely, a brand can have negative brand equity if it's not meeting consumer expectations. Your product demand, profitability, and market share will demonstrate the position of your brand equity. It would be best to research more about your customers' needs while building a relationship with them to get ROI from your branding efforts.
8. Brand Personality
Brand personality is the personification of brands. The human characteristics often attributed to brands in the customer's eyes is the brand personality. How a brand looks, what it says, and how it acts, shape the perception people have about it.
How would you describe your brand if it was a person? That's how your brand's personality looks like. Without a personality, brands would be boring as they won't have any differentiating factors.
9. Brand Experience
When checking out branding tips, brand experience is amongst the branding terms you’ll come across. Brand experience affects the feelings customers will have after a meaningful encounter with your brand. It builds sustainable consumer awareness while still creating customers who are faithful to the brand.
The brand experience seeks to evoke positive feelings and emotions towards a specific brand. You can work on improving the brand experience through emotion-evoking content. More importantly, take your brand personalization a notch higher.
Understanding the Branding Terms Is the First Step Towards Successful Marketing
Branding is a critical aspect of any business. You might want to orient yourself with the common branding terms before delving deeper into marketing. Given the complex nature of branding, investing without knowledge can potentially collapse your business.
From brand awareness to brand personality, the brand terms you need to know are inexhaustible. These branding aspects will play out as soon as you start developing your products. As such, it would be best to be familiar with branding terms early enough. Branding terms aren't just buzzwords, as long as you fully understand them and the context they have in business.
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