Yes, having a brand is in fact an asset, an intangible asset. Like any asset, brands require long term investment and will render profit over time.

By using components like a logo, design, mission statement, and a constant theme throughout all marketing communications, branding aims to give customers a strong, favorable impression of a business, its goods or services.

Branding allows you to build relationships with your audience, which can eventually turn them into loyal customers.

Brands influence consumer behavior by finding ways to fit in with consumers’ “self-image”. Adverts show levels of happiness and types of lifestyles that consumers want to have — and those act as symbols of what the brand represents.

In a nutshell, branding is who you are—and marketing is how you build awareness. Branding is your strategy, while marketing encompasses your tactical goals. In order to determine who your brand is, you need to ask yourself several questions.

Arguably the number one, most fundamental reason brands fail is a lack of authenticity. The marketplace is crowded with millions of potential customers and as many competing solutions. Know who you are, know what you do best, and know who you serve.