Branding
Branding
Often the more a thing is discussed the less it is understood. Words have a point of diminishing return. That point is crossed when the effort to be clear and precise counts every tree standing, but misses the proverbial forest. Such is the case with branding.
Because the idea of branding is all the rage, people are tempted to think that it is a new idea. It is not. It’s roots reach back into history.
The Old West
Let’s go back to the Old West where brands were burned into the hind quarters of cattle. The thing branded was the cow, the product produced by the ranching endeavor. The brand itself was the twisted iron logo on the end of the rod that left its image or mark on the hide of the cow. Cows were roped, tied and branded in order to identify them, should they be stolen. The brand was a mark of identity, as it is in the corporate world.
Some ranchers also used their logo as a welcome sign wrought in iron over the gates of the corral or over the road leading to the rancher’s home. Again, the brand identified the ranch. Some ranchers even got their cowhands belt buckles with the ranch logo to identify them as employees. And over time logoed merchandise began to pop up on boots, hats, shirts, etc.
Identity
The brand is essentially a mark of identity. It identifies the ranch or company, and has come to represent or suggest the values and character of the company, and of its leaders. The brand is associated with the character of the company, as well as its products.
The early history of branding was always personal. Where does the ranch or company get the values and character that are associated with it? From its owners and leaders, and from their business practices.
Branding as we know it today is the art of instilling and communicating the values and character of a company or organization through association with its logo. Psychology calls it symbolic association, and finds it to be foundational to the learning process. Symbolic association has deep roots in human experience and in history.
Fish, Cross & Swastika
We find that branding as a practice began very early in history. The sign of the fish and the cross were symbols used by the early Christians. Over time they became Christian brands.
The Roman Emperor Constantine had a vision of a red cross in the sky before the battle of Saxa Rubra, October 28, 312, near Rome. He put that red cross on his shields and flags, branding the Holy Roman Empire for centuries.
On August 7, 1920, at the Salzburg Congress, a red flag bearing the Swastika became the official emblem of the Nazi Party, as Hitler branded the Third Reich. While our emotional reaction to the Swastika is usually negative, both the fact and the intensity of our response to it points to the power of branding. Most people probably have an emotional reaction to the examples above. That emotional reaction is the aim of branding.
It must be recognized that a branding effort does not always turn out the way the campaign intends. The cross was intended to be a symbol of derision, but became a symbol of grace and mercy. The Swastika was intended to be a symbol of the triumph of the Arian race, but has become a symbol of evil. In both cases branding was achieved, but not in the way intended.
Of course, companies want the emotional association to their brand to be positive-even to generate an urge to splurge, or trust sufficient to sustain a transaction. But regardless of one’s personal reaction to a symbol, the fundamental mechanics of branding involve soliciting an emotional response to a symbol.
There are two fundamental elements in the branding process. The first pertains to the symbol, the second to the association.
The Symbol
The symbol itself must be familiar. The more the symbol or logo is seen, the more familiar it becomes. The most successful branding campaigns will have a lot of sustained media coverage and use a variety of advertising mediums. This does not mean that smaller campaigns cannot be successful, only that their success will be smaller. Familiarity is primarily a function of exposure.
The Association
Secondly, the emotional content of the association also needs to be familiar. Of course it is true that new desires and/or emotional content can be created. But the effort is both time consuming and risky. The result might be other than the desired effect.
The more successful method for creating a symbolic association employs well-established and widely valued characteristics, like love, honor, truth, freedom, etc. Successful branding campaigns establish symbolic associations between their products and/or company and such noble characteristics. What is noble inspires people, and what inspires is remembered and discussed. It creates buzz. And buzz is branding’s engine.
To discuss the art of branding apart from these foundational elements is to miss the forest for the trees. However, branding is more than a mere advertising campaign can accomplish because the symbolic association that needs to be made for the branding to be successful involves the core values and character traits of the company- its leaders and its business practices.
Prior to branding, core values, character issues and company policies need to be determined, developed and deployed within the company. Because the process of branding reveals the values, character and policies of the company, those things need to be right, and be in place before they can be successfully revealed.
Premature Branding
A premature revelation of these things can be disastrous to the intention of the branding campaign. To be branded as hypocritical and shallow is worse than no branding at all. Again, branding occurs when an emotional response-any emotional response- is associated with a company symbol. The art of branding is to solicit the right emotional response.
So, what can be done to promote a brand? Begin by working to establish core values and character within and throughout the company. To be successfully branded is to be known widely for who you are. You want a great branding campaign? Be a great company. Aspire to the values and character traits of greatness and nobility. Herein lies the key to branding success.
Is It Necessary To Have a Business Plan?
Are you planning to start a new business? Or are you considering expanding your current business and require a bank loan or investment from outsiders?
If you are going to look for an investment of capital it is quite likely that you will be required to have a business plan. If you are starting a business, despite the work involved, a business plan can prepare you for the obstacles ahead and help ensure your success.
A business plan is something that many small businesses fail to create, however, many business owners are adamant that having a written business plan is one of the keys to their present success. Creating a business plan forces you to contemplate possible obstacles to your business and prepares you to find solutions that will help you to overcome them.
To find investors or get a bank loan, they will want to see that you have the experience or resources to run the business. They will want to see your projected income as well as your suggested repayment plan already laid out. Taking the time to do this is not only important for them, but it gives you a measuring tool to verify if your business is growing properly. You can gage your success on how close to the plan your business has actually performed. Perhaps you’ll do worse, or perhaps you’ll do better, either way it helps you determine how well your business is getting on.
If you have never seen a business plan before you may be concerned that is is too difficult a proposition for you to manage on your own.
While there are services available where you can hire someone to write a business plan for you, depending on your needs it may be wise to familiarize yourself with a business plan’s layout. This will not only help you to provide the necessary information, but may encourage you to try your own hand at it.
There’s a free tool at www.bdc.ca which will assist you in creating a business plan. Some of the topics you will be required to explain are your Market, Customer, Competition, Marketing Plan, Research & Development along with financial forecasts. You may consider hiring someone to help you with your financial sheets after completing the written part of the Business Plan.
Your Business Plan will become your guide and silent business partner – indicating where you need to improve and helping you stay one step ahead of your competition. Make it a priority to have this crucial road map for your business.
The Key to a Successful Business
Where would a business be without a business plan?
A business plan sets the course for the future of the
business. It gives the business owner or manager a
sense of direction, listing the objectives and goals of
the business from the outset.
Writing a business plan requires a lot of time; a
successful business plan cannot be a rush job. Once
an idea for a business has been developed,
researching the many facets of owning and operating a
business is the next most important step. Your local
county council should be able to assist you with
accessing the required information of a legal nature, as
should your local business enterprise center. The rest
of the research will be up to you! You will need to
research products for your business, at the same time
as researching other enterprises that may be in direct
competition to you. Furthermore, you need to research
the market to determine whether there is a need for
your business product or service.
With the research out of the way, sitting down to write
a business plan requires focus. Your business plan will
become the bible of your business for at least the next
3 to 5 years so it is important to make it clear, concise
and comprehensive. Most enterprises will complete a
SWOT analysis to determine their strengths,
weaknesses, opportunities and threats of the
business. Whilst the business is in infancy,
brainstorming would be the most accurate way of
performing the analysis, as the business would not yet
have customers and profitability would not yet have
been experienced. However, it is very important to
remember that a good business plan is flexible and
can be changed as your business experiences growth.
After completing a SWOT analysis, you will need to
determine your business name if it has not already
been decided (and register it), as well as your vision
and values, your business goals and long term mission
and how you will achieve all of this when the business
is up and running. Writing every thought down
regardless of how minute you feel it is will allow you to
collate everything pertinent to your business for easy
reference in the future. Who knows, the thought or idea
that you have today may well turn into a million dollar
idea in a years time! Maintaining good records and
following a strong business plan is the key to a
successful business!