Among your friends, you definitely would have come across people who will always prefer a particular type of smartphone (say for instance Samsung, Tecno, Gionee, or even iPhone) to any other type of smartphone. Such people will always choose that particular type of smartphone no matter what.

For example, you may have a friend that loves Samsung smartphones and would do almost anything to buy one. Even though they may be other smartphones that seem better off than Samsung, he/she is only interested in having a Samsung smartphone.

Why are they that way? Because of the brand and brand identity that the company has built for its products.

What is a Brand?

A brand is a type of product manufactured by a particular company under a particular name. It is a name, term, symbol, or design that differentiates a company’s product from another. For example, Mercedes, Tesla, and Toyota are all different brands of cars. 

A brand can also be seen as the way a product is perceived by its consumers. For example, if you are convinced that Samsung smartphones are of high quality, then for you, Samsung is a high-quality smartphone brand. 

Brand identity refers to the collection of the visible brand elements which are peculiar to the particular product, that is, the colour, design, and logo that distinguish the brand in the minds of the consumers. For example, seeing the tick logo on a pair of clothes would immediately draw your mind to the NIKE brand. This shows that the tick logo is a part of the NIKE brand identity. 

Importance of Brand Identity in Business

In another article, we have covered the importance of brand identity in business in great detail. This section of this article is to give a summary of the points already laid down in that article.

• Your brand identity makes your business recognizable. For example, there is an iconic red colour associated with Coca-Cola. Whenever you see this colour, Coca-Cola would be the first thought in your mind. This shows recognizability.

• Brand identity builds customers' loyalty and trust. This would explain why your friend in the scenario we gave earlier would only be interested in having a Samsung smartphone. He/she trusts that only the Samsung brand can satisfy their requirements and needs in a smartphone.

•  Your level of business income/revenue is dependent on the strength of your brand identity. For example, Samsung has a stronger brand identity than Gionee. This would explain why Samsung company generates more revenue from its products than Gionee.

How to achieve a good brand identity

A good brand identity stands out from the crowd and appeases the senses of your customers.

• Your brand should be simple, unique, and memorable.
• Make your brand distinct by consistently using its core elements (colours, logos, and advertising style).
• Know and understand your audience and target market. This would help you to figure out what is appealing to them so that you can integrate it into your brand identity.
• Choose a customer-convenient and customer-friendly way of interacting with your customers. This will further attract customers to your brand.

Conclusion

When starting up your business, you would need to consider the brand identity you want to build. This brand identity, when developed properly, will contribute to boosting your revenue and also increase the popularity of your business.