In this article we focus on some of the most common misconceptions that hold people back from embracing the benefits of branding.
Your logo is your brand
For many people a brand is a logo, business card and a letterhead, and… This misconception is even reinforced by many graphic designers who advertise their services as branding. Well of course, I do not question the important role that a good logo has in building brand recognition, however, we need to make something clear. A logo, letterhead and business cards etc are only visual elements of your brand. Personally, I don’t know of any companies that have built their brand based solely on their logo. Because designing a brand is a multi-step process that besides the visual part, also includes verbal part (naming, copywriting, tone of voice), and maybe most importantly is a strategy that sets the foundation for the two other parts. All these parts are cumulative; verbal, visual and strategy. Meaning that they depend on each other.
Brands can be built overnight
You can’t build a strong brand overnight. It’s impossible. Just forget it. (If you are good and lucky enough, I mean like really REALLY good and lucky, you can design your brand strategy, brand identity and have a website that gives you a foundation for building your strang brand. Building a strong brand is like exactly like building relationships, because that is what you’re essentially doing. It requires time, trust and sacrifice. It’s not a matter of days, but a matter of weeks, months, years. Branding is a long-term thing, but in the end it’s all worth it.
Branding is just another marketing gimmick
Many people also believe that branding is nothing else than a marketing gimmick that doesn’t bring value to their business. Well, if you know someone who really thinks this way please tell him that Procter and Gamble sold a dozen of their brands for over 12 billion dollars in 2015. And that’s just for the brands, nothing else. Now, studies show that strong brands allow companies to increase their sales, increase their profit margin and even help them survive during economic crises. Branding is also the reason why most people choose an iPhone X over a Huawei, and why we pay almost double the price for a coffee at Starbucks. Finally, branding sets the foundation for some of your marketing decisions such as where to advertise, who to partner with and even how to price your product. So, to conclude; branding is not a marketing gimmick, but a very important part of strategy of every successful company.
Branding is too expensive
Many people also ignore branding because they think it costs too much. I don’t blame them, branding is more often than not quite expensive. But, it is a long term investment that pays off over time. And yes, it’s true, big companies spend lots and lots of money on branding every year, but the good news is that effective branding doesn’t necessarily have to be expensive. Because the key to a successful brand is not to be the best and biggest in your field, but to be different than your competitors. If you know how to do this right, then you’ll most likely succeed, even on a budget.