Myth 1: Branding is your company name and logo
The most common misconception around is that your company name and logo are your entire branding. Whilst these are both crucial parts of branding, your brand is a culmination of lots of different things, it’s the overall story of your business not just the look.
Myth 2: Having a perfect product/service is enough for your branding to be a success
A great product/service is important and will certainly contribute to your reputation, but the branding will reflect the emotion behind your product, this is what makes your product more memorable and effective helping your product stand out against competitors.
The entire branding experience is what makes your product or service stand out. Branding will establish the emotions and ideas behind your product/service. By helping to communicate the human aspect of your product/service you can make your products more memorable.
Myth 3: Branding and advertising are the same thing
Although branding and advertising go hand in hand they are certainly not one and the same. Branding is the identity that you create for your business whereas advertising is how you display that identity to your clients.
Myth 4: Only the marketing team are responsible for the businesses branding
If you have a marketing team then it’s important to realise that they are only the gatekeepers to your brand, they will try to steer it in the right direction and help as much as possible. But every stakeholder will have a hand in shaping your branding, from your frontline staff through to your sales team and admin staff. Your clients will also have an influence in how your branding is interpreted.
Myth 5: Branding is extremely expensive and only for big businesses with massive budgets
While branding can be expensive, it doesn’t have to be. Building a brand does take time and some investment, but it is something that can start inexpensively. All businesses from small start-ups to large corporations need branding of some description. Branding can be as simple as creating a free social media account for your business and using it to connect with your clients and provide useful information.