Is Your Brand Protected
Why Branding – And Protecting It – Really Matters in Business
It is easy, and all too common, for business leaders to fall into the trap of viewing a brand as merely a creative or attention-catching component of the business. While branding certainly provides those opportunities, it is much more than colorful patterns or clever designs. A brand exhibits a business’ personality and character. It showcases culture, purpose, and values. Ultimately, branding communicates a business’ identity, and is often the consumer’s first impression. We all know what they say about first impressions, so here are a few reasons branding is actually a critical piece of the business, and why it is even more critical to protect it.
Consumers Care
According to Forbes’ renowned contributor Kristopher Jones, branding matters to the modern consumer because the modern consumer seeks a trusting and long-term relationship. For any business model, consumer trust is essential for success, and that can start with strong branding. If your branding conveys credibility, integrity, or an understanding of your market or target audience, it is much more likely to relate to those consumers; it is more likely to put them at ease, gain their confidence, and, ultimately, establish trust.
Loyalty
Effective branding begets trust, and trust begets loyalty. For many businesses, customer loyalty is everything. Jones posits that impactful branding compels the audience to invest emotionally in the business, and often results in long term relationships and meaningful repeat business. This may sound like common sense, but because many brands target short-term success, brands that can successfully create the customer connection gain a significant advantage.
Employee Morale & Retention
We don’t think about it as much, but internal branding is every bit as important as the consumer-facing variety. Depending on the business model, it may be even more important. An article recently published in The Service Industries Journal lays out empirical evidence to support a link between internal branding and employee morale, performance, and retention. The main takeaway is that the message business leaders develop for their workforce to sell, promote, and advocate for should be as unique, clear, and compelling to customer-facing employees as it is to consumers. When employees have a strong, purposeful message to relay and sell, confidence in the message, in the company, and in themselves, all trend positive. This builds a happier, more productive, and more successful workforce.
Trademark
A trademark represents a business’ reputation, identity, and legacy, so protecting it is essential. To optimize brand protection, investing in trademarks is critical. A trademark, like a patent, offers legal protection. According to the United States Patent and Trademark Office, a trademark legally safeguards brand names and logos on goods and services, which prevents competitors from stealing and using intellectual property. Trademarks should be registered, which occurs through a straightforward application process.