Branding is the perpetual process of identifying, creating and managing the cumulative assets and actions that shape the perception of a brand in the minds of stakeholders. It breaks down as follows:
1. Perpetual process
Branding is a perpetual process because it never stops. People, markets and companies are constantly changing and the brand must evolve to keep up with the pace.
2. Identify, create, manage
There is a structured process for branding, one in which you must first identify who/ what you want to be for your stakeholders, create your brand strategy to position yourself accordingly and then constantly manage everything that influences your positioning.
3. Cumulative assets and shares
Its positioning must be translated into assets such as visual identity, content, products, advertisements and actions related to services, customer service, human relationships, experiences that project it into the minds of its stakeholders, slowly.
4. Perception of a brand
Also known as reputation. This is the association that an individual (customer or not) has in mind regarding their brand. This perception is the result of the branding process (or the lack of it).
5. Stakeholders
Customers aren't the only ones building a perception of your brand in their minds. Stakeholders include potential customers, existing customers, employees, shareholders, and business partners. Everyone builds their own perception and interacts with the brand accordingly.
This tool also includes the creation of distinctive visual elements, such as logos, colors and typography, with the objective of building an emotional and lasting connection that allows you to stand out from the competition and communicate who you are as a company.
These components collaborate synergistically to shape the brand's identity. Based on market analysis, 89% of consumers express their preference for a product that shares their personal values, underlining the relevance of the emotional connection that branding can establish. Similarly, 77% of consumers indicate that they could purchase an item from a recognizable brand, even if it's not their primary choice.
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