The Importance of Branding for Ghanaian Businesses
Every successful brand we see today gained their recognition via effective branding strategies. Branding has become a vital part of any business entity in Ghana which seeks to leave an indelible mark on the minds of customers. Just like there is no smoke without fire, there cannot be branding when there is no brand.
WHAT IS A BRAND?
[Tweet “A brand can be defined as a name, term, sign, symbol, design or a combination of all these elements”] to identify a product or service. These elements also help differentiate products from one another.
A brand is also the idea of a product that consumers can connect with by identifying the brand’s logo, slogan, colors or design of the company. Your brand resides within the hearts and mind of clients and customers when they are able to connect with it. Building a strong brand is therefore necessary as the battle for customers and clients increase by the day.
Your brand is a very vital part in your marketing strategy. As a result, having a good and effective branding strategy will help get your brand to the preferred height you want it to.
WHAT IS BRANDING?
Branding is the process involved in creating a unique name and image for a product in the consumer’s mind, mainly through advertising campaigns with a consistent theme or message. Branding is a must for any company or brand be it big or small. This is because branding will help establish a significant presence in the market to attract and retain customers.
THE PROCESS OF BRANDING
Branding is very important as we have already stated. Many people have tried to brand their companies but have failed as a result of not knowing the exact process to undertake. To help you out, are lists of processes to help get your branding on the move.
- Define your vision or mission statement
You cannot set out on a journey without knowing exactly where you are heading. The same way you cannot set out to undergo branding without knowing your brand’s or company’s vision and mission statement. A company’s vision is a statement of what the company wants to become. A mission however is a description of what the company does or the services the company renders. For example, the vision of Cute Events is to see to it that every talented and needy child in Ghana attains education via scholarships. Also they want Puma to be the No.1 sports brand for Ghanaians by making products cost effective to fit the pockets of every household. Their mission statement is to aim to get scholarships for the needy but talented students so they can gain admissions into various institutions not only with academics but with sports as well.. Defining your vision and mission statement is the first step in branding.
- Define your target market
Having a clear idea of the kind of customers your product appeals to is very important. This will help keep your brand relevant and competitive on the market. Not knowing your target market is tantamount to not knowing the purpose for your business. Taking records of customers and their preferences will help determine those interested in your brand.
- Understand your product
Get to know your product personally and what it does before selling it to your target audience. The solutions, benefits and quality of your product must be well known to you before branding it for the market. Selling a medicine which you claim cures twenty sicknesses, yet not even sure it cures headache is a bad branding practice. This will spell doom for your brand.
- Create your brand graphics and message
Creating a brand graphics and message means acquiring a logo or name that lets people know exactly what you do. This should be accompanied by a tagline, which is memorable and short. The tagline should reinforce your company’s values. For your brand to be consistent, use standard graphic elements, symbols, colors and fonts which relate to your company’s core values.
- Develop a strategic marketing plan
At this stage, you need to develop a strategy that assures you that every cedi you spend brings in an extra cedi. No one goes into business to make a loss though we don’t always make profit. A marketing strategy is key to getting your brand out there. This doesn’t mean placing an advert in a newspaper and sitting back waiting for your phone to start ringing (I would pardon you if it were a birthday party you advertised for). A strategic marketing strategy goes with advertising, public relations (PR), sales promotion, etc. All these go a long way to reinforce your brand message hence making it easier for clients to recall your brand.
IMPORTANCE OF BRANDING
- Branding promotes recognition
People like doing business with brands they are familiar with. Having a consistent branding process will help make your brand easy to recognize. This makes people feel at home when they purchase your goods and services.
- Branding helps create clarity and focus
It’s easy to change ideas and still not settle on a particular one. As a result it doesn’t take long for you to be swayed from your goals. A good branding strategy helps you stay focused on your company’s missions and vision. It also guides your marketing efforts hence saving time and money.
- Branding helps tell people about your business DNA
As humans, DNA is what helps identify our relations. That tells us the kind of persons we are. This same happens with brands as well. The way the visual elements in your logo looks, your whole brand experience and even how you answer calls will tell your customer the kind of brand you are.
- Branding generates referrals
Delighted customers always like to tell others about the brands they love. People eat brands, drink brands, wear brands and listen to brands. As a result, they love to share this experience with their loved ones. One cannot tell anyone about brand he or she doesn’t remember. Effective branding will help place your brand in the minds of customers.
Formulating the right brand strategy, creating a clear and distinctive brand identity, and positioning that brand in the right market is very vital for business success. Take time to share your branding experience with us in the comments below.
If you need any assistance with your brand, from creating your initial brand strategy to the visual identity element, contact us for a free consultation.
We’d love to help you.
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