Good Branding Takes Time & Why It's Worth It
Good branding is an extremely valuable asset, and it takes time to get it right. It's not a process you want to rush. Branding is more than just putting together a logo, font, and color guidelines. It involves thinking through your target audience, what engages them, and what they're looking for. Here's what you should know about branding and rebranding and why it's well worth the wait.
Why Is Good Branding So Important?
A good brand can have a significant impact on a company’s value.
U.S. research firm Ocean Tomo conducted a study of S&P 500 companies. It was determined that as much as 84% of an organization's value comes from its intangible assets, including its brand. This means that most of the value that a business brings to the table doesn't come from assets on the balance sheet. Things like inventory, sales, cash, etc., account for only 16% of a company's total market value.
Phases of Branding or Rebranding
There are multiple phases of branding or rebranding, many of which are open-ended. This means that the time it takes to complete each step is variable, depending on several factors.
Defining Your Goals
First, key players within your company should meet and discuss the organization's goals, target audience, mission, and company values. These should be adequately defined before starting your project to ensure that your team’s effort into your branding is aligned with your company's vision.
Brainstorming
Next is the process of brainstorming. Think about potential color schemes, fonts, design elements, and other elements of your branding. Take notes, and don't get too hung up on any one option. This stage should essentially be a creative dump, where key employees within your organization pool their ideas together in a single place for later consideration.
Research
Then, your team should be ready to conduct market research to determine which brand elements are likely to resonate most with your target audience. For example, your business could survey a few dozen customers about potential new logo designs, asking for feedback on fonts, colors, etc., from ideal buyers.
Creating Deliverables
Finally, your team will create your organization’s brand deliverables, including files of your logo, your color palette and fonts, and any other deliverables included in the project, like a letterhead or business cards.
Get Help With Your Organization's Branding Today
Robyn & Robyn understand the complexities of branding in today's dynamic market, especially when it comes to your digital presence. We know how vital good branding is to your overall bottom line, and we take the time to make sure we meet the needs of each of our clients and strive to exceed their expectations. Contact us today to learn more about branding and rebranding and how our team can help you get started.
