Debunking The 6 Most Common Brand Myths

Growing a company or embarking on a new business venture can be a challenging task. There are so many parts to starting a business that it’s hard to know where to begin. But you do, because you’ve got an idea or a talent, or a calling for providing a product or service. But perhaps the most confusing area is branding and marketing.

And we get it, for someone who has never experienced branding or perhaps even heard of a brand strategy, the idea of designing brand values for a start-up business can be a seriously daunting one. Over recent years, brand has become a mystery of sorts, much like those urban myths and legends. Do we really need a brand? Is it worth the time and money I’d need to invest? Isn’t it just made up, fluffy nonsense?

Truthfully though, creating and implementing a strong brand needn’t be torturous – nor should it need a magic wand.

Branding Myth 1 - Branding is for the Big players only!

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You may never have owned an iPhone, but you know of Apple. Yes, the big players have developed their brands carefully and implement them well. Your company could never do that, right? But don’t forget, brands like Apple didn’t start out like that. Besides, these days they have a lot more budget (and man power) to throw at it, so you’d like to think they’re getting it right!

The big players take very good care of their brand because they know that branding is important. And no, it doesn’t matter about the size of the business. Be it a one-man band or a multi-million dollar, global leader. Regardless of the size of your company, you – just like Apple - want the same things. You want to stand out from the crowd and build a sense of loyalty with your customer base so that, over time, your company becomes the premier choice within your industry.

So, don’t hesitate, believing that branding is just for the big players will only leave you missing out. Create your brand as soon as you can, then work your brand values consistently across everything you do – from how your staff deal with clients to sending out new communications.  

Branding Myth 2 – We’re a start-up business, we won’t be able to afford it!

It’s understandable, small companies and start-ups don’t tend to have a great deal of spare cash. And when it comes down to the finances branding might not be seen as important.

Actually, you couldn’t be more wrong.

Yes, creating your brand values will take you some time, honesty and commitment, but when it comes to spending money, the costs themselves don’t need to be large. Just by looking at your unique selling proposition, the inspiration behind the business – or rather, ‘why’ you chose to do what you do – plus how you want your company to be seen and experienced by your customers, is a great place to start when brand building. And all of that can start with you.

Having a brand in place will only set your company up for success. Just think, knowing your brand, and therefore who you want to target as a customer base, means any marketing plans or communication strategies you have in place will now be completely focused and relevant.

Branding Myth 3 – What if the market changes, won’t I need to change my brand?

Ok, we get it. You’ve worked really hard on your brand and you’ve grown brand loyalty amongst your customers, so the thought of changing it in a years’ time is depressing. Not to mention, sounds incredibly costly.

But actually, if you’ve done it right, your brand should be a collection of your businesses core values, the reasons behind why you wanted to start the company. And let’s face it; your inspiration and whatever empowered you to take that step into running a business will always be there. It won’t change.

A brand isn’t a tangible thing; it’s not about displaying the latest colours or the most innovative designs. It’s about connecting with your customers on an emotional level. And the changes in the market won’t affect that. Yes, the market fluctuates – pretty much daily at times – but your only challenge will be to create new products or services that meet these changes. All in line with the brand values you already have in place. As your company grows your brand is likely to grow and flex too, but it will always be a constant in everything you do, you should never need to start over.

Branding Myth 4 – We’ve got a really nice logo, isn’t that enough?

Logos are important. A really good one will resonate in the minds of your customers and help to make you recognisable. A good logo is extremely valuable if you’re in the business of making products or sending out packaging. They can also give out clues as to the kind of business you are or how you want to be perceived.

But quite frankly, a logo on its own is useless. And it certainly shouldn’t be counted as your brand.

As we’ve mentioned before, your brand is made up of the values that your company holds. Like a promise to all your customers as to how you will behave when they interact with you. This can be used across your entire brand building marketing – such as your logo and colours, your company’s tone of voice and your communication strategy. A strong brand, used wisely, will build loyalty and shape any further growth you’d like to see for your company. A logo alone cannot do this.

Branding Myth 5 – Branding sounds hard.

If you’re not from a marketing or communications background the thought of creating and implementing a brand can be daunting. Where do I start, what’s involved, how long will it take, am I doing it right?

But don’t worry; branding doesn’t have to be difficult. Yes, there are experts in the field that you can draw from, but actually creating a great brand can be as simple as investing in some careful thought and consideration. Think about the reasons why you went in to business and what it is you want the customer to gain from working with, or buying from you. Build your brand values on that base and you’ll have a good strong brand moving forwards.

Branding Myth 6 – Branding is just fluffy and a ‘nice to have’, right?

Well, no actually, you’re wrong. Branding isn’t just about getting a few ‘creative types’ into a room and coming up with some nice mission statements. It’s about building a future for your business. And if it’s done right, it will allow your customers to truly understand your business and emotionally connect to your brand, creating brand loyalty.

With brand loyalty in place your company can literally go from strength to strength. Just think about it – brand loyalty means your company will stand out in what is generally a crowded marketplace. Your products or services will be the first choice for your customers because they know you, trust you and like how they feel when they work with you.

Brand loyalty means your products or services can demand a higher price, because customers value what you have to offer and are willing to pay more for it.

Brand loyalty means new business opportunities are more likely to come and find you because you’re known in the industry.

And brand loyalty means that people will want to be part of your brand – whether that’s staff coming to work alongside you or customers coming to buy from, or work with you.

And who wouldn’t want that?

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