You might have come across this word often. Especially often used in marketing and branding by people, brand identity is a very important concept in today’s world. So what does it basically mean?
Brand identity in simple words, tends to set the brand apart from all the competitors in the market. Just like an individual’s personal identity, brand identity makes it easy to define the brand in its own unique way. It can be defined as the set of visual elements- like the colour scheme used by the brands, the logo, the language used, and the design of the brand that the brand uses to set itself apart from the rest of the brands in the market. The brand identity is not a random combination of these elements. Instead, a lot of research and efforts go into deciding these key elements, so that the these elements can dictate to the consumers what the brand stands for, and aims to achieve. Let’s look at some of these reasons in detail, and try to understand why it is important for brands to establish a strong brand identity in today’s marketplace:
Creates product differentiation
As discussed before, one of the key reasons why establishing a brand identity is important, is to create product differentiation in today’s crowded market space. Nowadays, multiple products are present in the same category. What sets a product apart is the brand identity, amongst other things that the brand can offer. Brand identity can help a brand stand out in the eyes of the target audience.
Shows the personality of the brand
With so many products in the market, brands get less time to make a mark on the consumers mind. Brand identity is a great way to make the audience understand the personality of the brand- what they stand for, what they aim to achieve, and who they are targeting. The elements of brand identity can help to establish a tone to the brand and can make the customers feel a certain way about the brand. For instance, brands often use colours like golden, black, and silver when they want to establish a tone of class and eliteness.
Consistency in the messages
If there is a difference in the colour scheme used, the logo, or the design, in different messages put out by the brand, the customer might feel confused. Using the elements of brand identity correctly also means establishing a sense of consistency in the messages that the brand puts out to the target audience. Being the best PR agency in Delhi, we understand the importance of establishing a strong brand identity for our clients and help them in doing so.
Another important reason why brands need to establish a strong brand identity in today’s marketplace is the increase in profits it can lead to. A strong brand identity can help the customers see the brand in a better light, and as a name they want to spend their money on. There are so many examples even in today’s market, where customers are ready to pay more money for a particular brand, even if a cheaper alternative is available. When a brand is able to properly communicate what it stands for, and can position itself in a good light, more and more customers would want to spend money on them, leading to an increase in profits as well.
Hence, brand identity can not only help the brand to stand out, but can help it to communicate certain things to its target audience through the different elements that it consists of. As we discussed before, with a market place like today’s, product differentiation is more of a necessity than a choice, at this point. Brand identity is one of the elements that can help a brand to create that, when done well, all the while benefitting the brand in many other ways as well.