10 Jun 2019
Listen, having a BRAND is CRUCIAL for you. Period.
Never underestimate the power of branding. You see it EVERYWHERE, not just in advertising space, but also in the objects you use and consume.
From the convenience store items you consume (and perhaps the convenience store itself) to the clothes you wear and the devices you use to read this blog. Unless you confine yourself away from modern civilisation, you can never run away from brands.
Now I’m sure you guys are aware of that, but how many people actually know the importance well enough to integrate it properly into their products? We can be aware of things without knowing the raison d'etre of the concept behind it.
And that’s where we come in. To show you the purpose of branding.
Branding: Stand out from the rest.
Branding, according to this article is “by definition, is a marketing practice in which a company creates a name, symbol, or design that is easily identifiable as belonging to the company. This helps to identify a product and distinguish it from other products and services.”
Your brand is the personality of the product; the ethos of the company. Just a logo, or a catchy name puts your products and services on a pedestal. It also shows the credibility of the company based on the efforts they put in for pushing a brand.
Brand is what separates Coca-cola from mycola, look at how widely recognised the coke bottle is, from the logo itself to the shape of the bottle.
Brands are what gives meaning to phrases (slogans) like “I’m Lovin’ It”(Mcdonalds)”, Finger lickin’ good” (KFC) and “Eat Fresh” (Subway).
Establishment; or the Illusion of establishment
Simply put, branding builds association with a product or a certain service. Sometimes something as simple as a gel ink pen can be associated with a brand.
For example, when I’m looking for a pen to buy for my daily writing usage, the first thing that comes to my mind is: Pilot G2 and Zebra Sarasa.
Because all this while I’ve been using (or have observed others utilising) those specific pens, I tend to associate those two brands with quality but affordable ballpoint pens, even though there might be more affordable pens with higher quality.
We humans crave familiarity, and branding creates that familiarity.
Be in the conversation, literally. (AKA Google it with your iPhone)
Often, we tend to integrate our conversations with brands replacing the words that describe the actual object or adjective itself.
Take a look at this conversation from a date that I eavesdropped on:
Jack: “Last night, I Googled (searched) an article on ways to PhotoShop (edit) the pictures I’ve taken yesterday.”
Jill: “That’s cool! What photos did you take?”
Jack: “Well, I was at the 7-11 (convenience store) grabbing a can of coke (soda) when I saw an adorable corgi outside the store. So I took a photo of it on my iPhone (smartphone), I just HAD to.”
Jill:”Awww that’s so sweet!~ Hey, do you want to grab some Starbucks (coffee) just up the hill? You can show me the photos whilst on the way.”
See how branding affects the conversation? Imagine your brand being analogous with your product and/ or services. Current consumers would use your brand’s name in their daily conversations. Not only would the brand be established in their minds, it raises awareness for new customers as well.
The infamous power of branding.
There’s this particular fashion brand, I’m sure you’ve heard of it. But just plonking their logo somewhere in their products can allow them to jack up their prices tenfold.
Yes, I’m talking about Supreme.
This brand itself is worth US$1 billion in total equity. The brand has been associated as “hyped” and “rare”, due to the artificial scarcity tactics the company actively engages in.
Anyone who owns a Supreme T-shirt, or even a Supreme brick (see why I said infamous power) is seen as cool and in-trend. Which brings the worth of something that cost $10 up to $485 with just the brand. JUST THE LOGO.
This is the power of branding. It’s that scary
From a business and employees’ point of view
There is this satire statement about working in a well known multi-billion dollar multi-national company handling daily transactions and contributing to the economy, also known as being a cashier at McDonalds.
Having a brand is not just advertising to consumers, it’s advertising to potential investors. Investors whether they are aware of it, study the habits of consumers.
They have to. It is part of how they choose the right company to grow their money.
Branding raises awareness to investors that you are not like the rest in the industry, and good branding, which increases consumer demand, would entice an investor as your company allows for potential high return of equity to them.
In an employee’s point of view. Being part of a brand means having to explain less to anyone about what and where they work. Which is a good thing if you ask me.
On a more serious note, it imbues a sense of identity in the employee itself, as culture is part of a brand as well. This pride and identity can improve worker satisfaction as they are contributing to a bigger cause (refer to the macdonald statement again).
For example, imagine working at Google, with their playful culture, you will tend to dread working lesser as compared to working in an unknown company in which you even question its purpose.
Now that you’ve learnt the importance of brands and branding, why not find promotional products that can spearhead your branding endeavours?
Come on down to the Singapore Gifts and Premiums Fair 2019 at Marina Bay Sands Exhibition Hall from 10th -12th July, with over 200+ Exhibitors, you will never miss out on any corporate, promotional or premium gifts for your colleagues, clients, and customers!
You can also learn more about the importance of marketing and branding, and also what sell to customers through the talks and seminars held there!
Click here to register today!
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