THE IMPORTANCE OF BRAND IDENTITY
Global companies spend millions of dollars each year to develop, preserve and promote their brand identity. Creative agencies spend thousands of hours brainstorming about the right set of fonts, colors, depictions and connotations for a company’s brand. Thousands of companies have gone out of business because they couldn’t communicate what their brand stood for!
So what is Brand Identity?
It can be defined as the unique set of brand collaterals that represent what a brand stands for and promises to its customers. The key perspectives around brands as brand as product, brand as organization, brand as person and brand as symbol.
Some of the elements that make up the brand’s identity are its logo and emblem, its colors and fonts, its packaging and advertising campaigns, its communications and the tone of voice it uses and even the people who represent it.
The central idea for establishing a unique brand identity is to create a timeless attribute that helps the brand grow and differentiate itself from its competitors. It is this central essence and the core personality of the brand that stays with its customers across all touch-points.
As the brand evolves, it achieves more and more for the company. Here are a few things that a Brand Identity can do for your business:
A unique and relevant brand identity is easier to remember and recall while sharing or making a purchase. However, a commonplace brand can easily be lost amongst the extreme information overload and exposure to advertising that customers are exposed to. We know a NIKE when we see the swoosh!
Brand identity elements like the logo, packaging, font and colors help customers identify and distinguish a brand from its competitors, counterfeit products and other me-too brands. We know that every red and black cola bottle isn’t Coca-Cola.
A brand’s positioning speaks volumes for what the product stands for. We know that Fosters is “Australian for beer”.
Charge a Premium
A strong brand equity allows businesses to charge a premium because clients would be willing to spend more in order to associate themselves with a prestigious brand. This is perhaps why Apple commands a premium pricing over other hardware manufacturers offering the same/ similar product.
An established brand is respected across regions and markets, and also across the business value chains. Clients, employees, associates, partners and the stakeholders – everybody loves and respects a brand that commands a strong brand equity. Take Microsoft for example.
Bridging the Gap Between Brand Identity and Brand Image
While a brand owner uses several brand tools such as name, trademark, communications, and appearance to form a ‘brand identity’, a ‘brand image’ is how the customer perceives the brand, or the mental picture of a brand.
A marketer’s job is said to be complete when the brand image is the same as the brand identity. However, based on several external and internal factors, almost always, there exists a gap between the two.
Brand Identity Experts
An expert brand identity creation team can help a business create a unique, efficient, attractive and easy to remember brand identity.
An experienced and creative brand identity developer will thoroughly investigate the concept that the brand stands for. Based on hours of intense discussions and deliberations, the experts would suggest sustainable brand names, logos, colors and representations that are easy to remember, transcend trends and have positive connotations.