What is Brand Identity?
Just like individuals have a personality, businesses have a brand identity. A strong brand image can differentiate you from competitors and compel consumers to purchase your product while a lacking brand image can do the opposite. Understanding the basics of brand identity, the importance, and how to improve your business’s own brand identity is crucial for the long-term success of your business.
The Basics
Brand identity is a collection of different components that portray an image to consumers. Brand identity is not the same as brand image and branding even though these terms share a similar word makeup. Your website color scheme, logo, text, and design are all components that factor into your brand identity. All of the components associated with brand identity are visual.
The Importance of Brand Identity
Brand identity is a critical component of creating sales and gaining market share. Consistent marketing efforts with a focus on brand identity lead to consistent sales since consumers are constantly reminded about your product or service. Additionally, new product rollouts will be more successful if you have generated a strong brand identity as consumers will already trust your business and therefore, trust your new product.
Creating product differentiation also relies on having a unique brand identity compared to consumers. Individuals who are able to pick your brand logo or color scheme out of a lineup in the store will be more likely to purchase your product. Couple the cognitive recognition with a strong product and you have a recipe for success.
How to Improve Your Brand Identity
Finding effective strategies to improve your brand identity is important to realize the different benefits. First, you need to understand what tangible elements you want your business to be known for. Is it a certain image or a color scheme? For example, when consumers see a blue f, they will associate that with Facebook. The color scheme and lowercase text font are attributes specific to Facebook that have allowed them to boost its brand identity.
After you identify your mission, values, and brand personality, you can apply those characteristics to your marketing campaigns. Maybe you have a unique story that drives your business mission or have a product that looks to solve a social problem. Whatever the reason behind your company, you want to include those aspects into your marketing campaign to boost the emotions of consumers and in return generate sales.
Take a look at your current brand identity. Is there a consistent text? How about the same color scheme throughout all logos? If not, these are great areas to improve your brand identity. Analyzing a competitor’s brand identity can help identify aspects you like and don’t like, giving you insight into the specifics you want to implement in your company.
IN SUMMARY:
Developing a brand identity is vital to increase your revenue potential and generate a household business name. It’s never too late to revamp your brand identity.
