When it comes to entrepreneurship, there are many factors, steps, tools and fundamental elements that, when done well, guide the entrepreneur towards the right path. One of them is branding, an often underestimated process. The truth is that many people confuse concepts and think that branding is just a name or a logo and, therefore it doesn't receive the importance it deserves. However, this is a much more complex process that includes numerous steps and factors aimed at transmitting the personality and soul of the company.
One of the main objectives of any company is to stand out in a saturated market and to be recognized by the consumers. This is achieved by following a good branding strategy, which has been elaborated and planned with the necessary time and resources. At La Lonja de la Innovación, we are aware of the importante that it has in achieving success, so Chio Díez, Branding and UX/UI mentor, helps all accelerated startups to develop this process in an intelligent and efficient way.
What is branding?
Branding is like a presentation of your company to the world. It is the DNA of your brand, what defines it, its identity. In more technical concepts, it is the process of defining and creating a brand, formed by a series of actions focused on positioning it and transmitting its values and purpose. In other words, it focuses on making a company known in the market and winning over consumers by creating connections with them so that they choose your brand at the time of the purchase decision.
Said this, it is clear that it not only consists of the logo or the colors that are going to represent your company, as many people think, but it is more about the feelings you want to transmit and the experience consumers will have when buying your products. In this sense it encompasses all the elements both tangible and intangible of your brand, such as values, mission, logo, iconography, messages, tone, typography, essence and personality. In other words, numerous ingredients that must be united and thought through to the millimeter so that your brand identity is coherent and works.
The importance of branding
Knowing well what this process consists of, it is easy to understand the importance it has in a company's success. Nowadays, this has become even more relevant, since living in a globalized world,competition has increased enormously, and being able to stand out in the market is essential. But this is not the only thing that branding can offer you, here are some of the benefits it can help you achieve
- Increase the value of your brand globally and achieve greater customer loyalty.
- Create affinity between the brand and consumers
- Creating identity and recognition
- Generate emotional connection between brand and customers
- Building trust and credibility
Finally, all of the above influences consumers' purchasing decisions. A strong and well-created brand image gives a perception of quality compared to others. Therefore, customers will tend to buy the product or service offered before others.
For all these reasons, there is no doubt that it is a fundamental tool for every business. It's what will help you create your company's identity. It is not only how you are seen, but what customers feel and experience with your brand. That is why investing in branding is a strategic decision to be able to grow, since it is one of the most important processes to create a successful startup, just like conducting a SWOT analysis to achieve your goals or defining a marketing strategy to improve the communication of your brand.