Whether you are already operating a business or are just starting out, you should always remember that your brand identity will play a major role in your ultimate success. Brand identity is more than just the name you assign your business. To achieve success, you must understand what brand identity is, and how you can use it to nurture and expand your business.
Brand Identity Defined
If you want to understand what ‘brand identity’ is, you first need to define what a ‘brand’ is. Most marketing schools define brand as ‘a symbol, name, design, term, or any other feature that defines a particular seller or business.’
Brand identity is what sets a particular business apart from the rest. It also injects a degree of personality into the brand, and prompts consumers to associate with it.
Close your eyes and think about some of the world’s top brands. Could you see the Coca-Cola logo and fail to recognise it? Or Nike’s trademark ‘swoosh’ logo?
Brand identity is about having something that makes you unique from your competitors, while making your potential customer-base associate more closely with you.
Why Brand Identity Matters
If you are asking why brand identity matters, you should first ask yourself why having a ‘good name’ matters. Firstly, it makes you feel good as a brand owner. Secondly, a good brand identity is what will prompt customers to keep doing business with you.
At the end of the day, good brand identity is what leads to brand loyalty. Good brand identity also makes it easier for you to enter into collaborations and partnerships with other reputable brands.
It takes a lot of time and strategy to develop a solid brand identity. It begins from when you are conceptualising your business idea, and never stops – even after your business has made a name for itself.