Branding is a buzzword that brings forth close to 39 billion links on Google. In a competitive marketplace, having a powerful brand can drive success. Excellence alone is not enough to surpass your competition. Companies need branding and positioning to differentiate their business from others offering similar products and services.
Branding is more than just a label for your company. It establishes your identity, defines your product or service, and affects customer perception, all coalescing to pre-sell your business. Your company's logo creates its visual identity, taking into account form, color palette, type style and layout. "The stronger brand is going to win in a competitive situation," said Sam Yates, President, Yates & Associates.
When we see a pair of golden arches, the letters
"LV", and two hands side by side with palms up, we immediately identify McDonald's, the designer Louis Vitton, and Allstate Insurance Company. Adding a tagline can create a powerful positioning statement.
Positioning statements can be used to reflect what your company offers that is of importance to your clients and customers. "Just do it," "You can do it, we can help," and "Drivers wanted" are the memorable taglines of Nike, Home Depot and Volkswagen.
Logos and taglines project distinct images essential to separate your company from others. "Branding has to be the backbone of your marketing plan, especially if you're in multiple markets," said Yates.
Classic branding campaigns raise awareness of a company and its product or service. When the economy is in a downturn, maintaining a visual presence is critical to making an impact, even though the payoff may not arrive until the economy improves. "Many companies are inclined to withdraw from the 'brand bank' during difficult economic times. However, doing so may be fatal for a company," said Yates. Abandoning your brand is equivalent to abandoning your company's future.
The bottom line: Ultimately, branding brings you the customer or client your company has earned. In times of economic downturn, maintaining market presence is critical to long-term success. Results happen over time, not overnight.
Yates & Associates provides a full range of cost-effective branding and marketing communications services that produce results. Let Yates & Associates help you grow your business.
For more information, contact Dorothy Kamm, Executive Vice President, Yates & Associates, (772) 225-1292;
www.YatesPro.com.