Many entrepreneurs hold flawed ideas about branding in their heads. The worst part is, it hinders them from appreciating the many benefits that it can bring to their business.
As you’re reading this, chances are, you are one of those thousands of people confused about the significance of branding a business. The good thing is, you are actually willing to learn.
In today’s blog post, our goal is to steer clear of the most common branding misconceptions and help you get the facts straight. So if you’re ready, let’s go straight to exposing misconception #1!
Misconception #1: Branding is equal to design.
While your logo takes an important part of the whole journey, you should know that it is just the tip of the iceberg. It also involves intangible aspects like your personality, positioning, and promise, as well as other tangible aspects like colour, design, and voice. To put it simply, branding goes way beyond aesthetics. It is the sum experience of your customer with your product or service.
Misconception #2: Branding is only for large-scale businesses.
We can’t blame you for having this misconception, as the most well-known brands are under big corporations. But let us tell you, this can’t be farther from true. A rational explanation for this is that these brands utilised good branding to claim and maintain their position in the market.
The same amount of time and effort goes into branding small and big businesses. And even a reasonable amount can get you a long way if you know how to make the most of the resources you have.
Misconception #3: Branding doesn’t affect the bottom line.
The result of branding is difficult to quantify given its intangible characteristics like trust and perception. Because of this, many entrepreneurs seem to think that it’s less of a valuable effort.
Hear this: it may not directly and immediately affect your sales, but good branding is a strong asset. Effective branding doesn’t only get you the sale, it gets you a customer’s loyalty so they’ll choose you over your competitor again and again.
Misconception #4: Branding is a one-time action.
Most businesses fail to reap the rewards of branding because they think of it as a one-time responsibility that can be completed all at once. But it shouldn’t be like that. You should know that it takes a consistent effort. Think of it as a lifestyle that you live by. Every communication, every action that your business takes should be guided by your branding.
Misconception #5: Branding can wait.
Ideally, your branding should be set in place from the get-go—from the moment you launched your business, evolving with you as your business grows. Don’t let it get sidetracked for the wrong reasons like limited financial and human resources. Because, number one, effective branding doesn’t necessarily need to cost you a fortune. Number two, delegating the responsibility to an expert team can guarantee you a good result without taking you away from the other important stuff that you need to work on.
Need help developing your branding? Send us a message today and let’s schedule a FREE consultation!