Branding is the process of creating a strong, positive perception of a company, its products or services in the customer’s mind by combining such elements as logo, design, mission statement , and a consistent theme throughout all marketing communications. Effective branding helps companies differentiate themselves from their competitors and build a loyal customer base.
A unique brand can have a huge impact on your bottom line by giving you a competitive advantage over your rivals and helping you acquire and retain customers at a much lower cost. In eCommerce, where new companies (and therefore, new competitors) are springing up every day, an established brand can be an invaluable asset in bringing customers and generating profit.
Regardless of whether you’re investing time and effort into crafting a compelling brand or paying no attention to it whatsoever, your business still has a brand. However, it may be completely different to how you intended to be seen.
By carefully constructing your brand through stories, relationships, marketing messages and visual assets, you have the opportunity of shaping your customers’ expectations and creating a unique bond that goes beyond the buying-selling relationship.
Good branding is strategic, while marketing is tactical. When you establish the higher objectives and clearly define your brand promise, you can start crafting a marketing plan that’s geared towards achieving those goals.