We often hear the word branding. We think it’s about a company’s product or their logo. But it goes beyond that. Branding is a complex subject. It’s a strategy that businesses practice to gain consumers and make them come back for more.
In this article, we will discuss what is branding, components of branding, and how it affects the purchasing behavior of consumers.
What is Branding?
Branding is an idea or image a business creates that people picture in their minds when thinking of a company. It is more than a physical aspect. It also includes the feeling consumer develops regarding a company or product.
It combines all the physical, emotional, and psychological effects of a company. It includes the logo, name, visual identity, message, mission and vision, and more.
A brand is different from a product. The latter is something that is physical and satisfies the need of the customer. Meanwhile, a brand affects a person’s perception when using a product from a company. It is a unique trait of a company.
No matter how similar the products are, people will always choose a company they feel connected with. That’s how branding influences the way people purchase a product or support a company.
Components of Branding
Before we get to know how brands can affect the decision-making process of consumers, let’s get to know the components.
Every business needs a logo. It is the first thing you notice and remember about a brand. You barely see an organization with no logo. It is considered the most crucial element of branding.
Logo design represents the whole personality of a business. It appears in almost every asset of your company, from your business cards to packaging. Therefore, you need to make sure that your logo should embody your entire brand and its identity.
You can communicate what your company offers in the simplest way by using a tagline. It’s a slogan or a short message that defines your business.
Common taglines are;
- “Eat Fresh” by Subway
- “Just Do It” by Nike
A business’s tagline gives people information about the brand and what they can expect.
Fonts and Colors
Both fonts and colors contribute to a business’s brand. It communicates the personality and value of a business.
Fonts and colors correlate to a specific emotion and trait. Therefore, businesses carefully select the perfect font and color that would represent their brand.
Some brands that have trademarked their colors are McDonald’s (red and yellow) and Tiffany (Tiffany blue).
Learning the psychology of color and how it affects a person can help choose how it will work for your brand.
Tone of Voice and Vocabulary
It gives businesses a unique take on their brand. It makes a business stand out from other companies that offer the same products.
Look at Wendy’s. They’re just a simple fast-food chain similar to others, but they have found a way to make them stood out from the rest. They are known for their savage comments and snarky comebacks on Twitter.
Imagery is more than a logo or content posted. It is the overall aesthetic projected to the consumers. Imagery can include the photos used, graphics on websites, background in packaging, and so on. It is closely related to the shapes, fonts, and colors.
However, it’s also more than the graphics used. Imagery can be the overall personality a brand projects themselves to their customers. A brand’s imagery represents them visually.
Branding includes more than the elements mentioned above. It also covers the shape, taste, smell, user experience, user interface, and more.
With these elements, how can it affect customers’ choices?
How Branding Affects Consumer Purchase Decision
Promotes Buyer Aspiration
Brands have that aspirational element in them. They mirrored in the price most prestigious and well-known brands. That’s why exceptional branding transforms items into distinctive objects of desire. Even if most phones may potentially assist us at a lower cost, our impulse to buy an expensive iPhone remains constant. Consumers associate items and services with a social symbol. People see you differently when you drive a Porsche. It also enables the company to charge a higher price.
Alters the Consumers Behavior
A powerful brand can influence consumer behavior positively. For example, there are two goods with identical features and functions. One is a luxury brand, whereas the other is not. Which one do you think you’d pick?
Brands have backstories to go along with them. They have followings and gain trust over time. People become familiar with them, their founders, and their history, and chances are someone in your circle of friends has utilized their products. When you see their logo, you immediately know the brand and recall previous experiences with their products from that brand. It is called the halo effect. You can use the halo effect in advertising, you can save money on marketing strategies.
One example of this is Apple. We all know who Steve Jobs is and the famous half-eaten Apple logo of his brand. The company has built trust between them and their customers, that whenever people see any Apple product, they’ll instantly choose it. Unlike non-branded products, luxury products have the upper hand.
Fits the Mind of the Buyers
When we purchase something online, we buy one that would fit the image of ourselves. It reflects who we are and what we want. That’s what branding does to consumers.
They create an image in their buyers’ minds that whenever they hear the name of the company, they immediately assemble a figure of that business. This image also conforms to the consumers’ self-concept. That’s why they end up purchasing from the same company every time they need something.
Creates Brand Loyalty
People buy on one business even if they have another option because of brand loyalty. The combination of trust and emotional aspect influence why a consumer stays on a particular brand.
A strong brand loyalty developed by a business can affect the purchasing behavior of a customer. They keep coming back to the same brand because of the nostalgic effect it has on them.
Builds a Sense of Belongingness
Now that anything is possible for businesses, they can talk about anything under the sun. Companies can connect with their customers and make them part of their company. Branding is inclusive.
The feeling of belongingness makes people want to purchase from that particular brand.
When a business has built its brand, it would be easy for them to keep loyal customers and attract more. Branding is what you make your consumers feel and see. Therefore, for any product that is similar to yours, people will immediately remember you.
If you are starting your business, learn how to create a quality brand experience, excellent content, and engage with your customers.