What is Branding?
Let's face it, brands are everywhere. A brand is how we identify products, services, people, places and religions. Everything can be "branded," however, a brand is more than just a logo or identity; it represents a symbolic construct created within the minds of people that consist of all the information, expectations and personality associated with a company, product or service. It can symbolize confidence, passion, belonging, or a set of unique values. A brand is an experience.
Branding has been around for more than 5,000 years. Historically, branding was used as a way for farmers to stamp their livestock, a way of saying, "that's mine." By the 20th century, it had evolved into more than just a way for farmers to mark their property; the industrial revolution introduced mass-produced goods and the need for companies to sell their products to a wider market. By applying branding to packaged goods, the manufacturers could increase the consumer's familiarity with their products in an effort to build trust and loyalty. Campbell Soup, Juicy Fruit Gum and Quaker Oats were among the first products to be 'branded.'
In the 1900's, companies adopted slogans, mascots and jingles that began to appear on radio and television. Marketers soon began to recognize the way in which consumers were developing relationships with brands in a social and psychological sense, and over time learned to develop their brand's identity and personality traits; such as youthfulness, luxury or fun. Branding became more personal. This evolved into the practice we now know as "branding" today, where the consumers buy "the brand" instead of the product. This trend continued to the 1980s, and is often quantified in concepts such as brand value and brand equity.
In today's modern digital age, the Internet and social media have had major impacts on branding in a very short time. Brands are now more connected to consumers than ever before across numerous "touch points" -websites, blogs, social media, videos, television, magazines, mobile phones, applications, games, events and even art installations are all common channels where brands are engaging consumers. Unlike 20th century practices where consumers were passive receivers of messages, today's successful branding campaigns involve multidimensional, two-way communication where consumers participate, share, and interact with a brand. Branding has become a physical, social and psychological experience.
The "brand experience" is the concept that a company's identity and design evoke certain sensations, feelings and cognitions for the consumer. Several dimensions can distinguish the brand experience: sensory, affective, intellectual, and behavioral. Such stimuli appear as part of a brand's design and identity, packaging, communications, and environments. Prime examples of some of the most experiential brands are Victoria's Secret, Apple and Starbucks. Not only is branding about the individual's awareness of the brand, but the experience the brand brings to the individual; the prospect that the individual moves from awareness of the product to consideration, to loyalty, to advocate. Hewlett Packard CEO, Meg Whitman, says, "When people use your brand as a verb, that's remarkable." For example, "Google it," "Skype date?" Egypt "Photoshop that picture!"
A strong brand is a critical marketing asset, as important to your business as the product itself. In our rapidly changing and increasingly complex world, technology and human interaction are intersecting in new ways, creating an experience economy where trust, conversation and brand portability are critical to remaining relevant. Big will no longer beat the small. It will be the fast beats the slow.