T he idea of branding has become name, design, slogan, and other features setting the business apart from its competitors. Now, this term has been thrown around so much that it’s almost lost all meaning. Many companies and organizations claim they can help your business with branding, but can they really? muddied over the past few years. In decades past, the term was clear: It referred to a specific business entity’s In today’s climate, branding doesn’t mean just one thing. It encompasses a whole slew of components: brand strategy, brand research, brand positioning, brand identity, brand experience, and more. Those public relations companies or advertising firms that say they do branding or are in the branding business only focus on a few components of the all-encompassing idea of branding. They usually focus on brand strategy and, in some cases, brand research. But the other parts of branding can only truly come from within your own business. Even major businesses have differing views on what branding actually means. Some believe branding is how businesses establish customer relationships through customized offers and customer retention efforts, while others think it involves mass communication. If you talk to enough companies, you’ll hear branding used to describe everything from a standard within an organization to a way to bring change to the world. It has become so confusing that data analytics and brand consulting companies struggle to determine the actual value of a brand. For example, in 2021, Kantar valued the top 100 global brands at $7.1 trillion, whereas Intrabrand only valued them at $2.6 trillion. That’s a massive difference! Let’s break it down so it’s easy to understand exactly what businesses mean when they say they’re in the branding game. Advertising firms are in the business of creating advertisements. Is this branding? Not necessarily. They can strengthen a brand, but advertisements target short-term results. “We have this deal going on — come in before it’s too late,” or “You need to check out this brand-new product.” Similarly, public relations companies create good news about specific organizations or help organizations avoid negative press. This can strengthen the brand but does not necessarily count as branding. Branding proper puts the focus on long-term gains. It creates an image in a consumer’s mind of what that business is doing and what
to expect when they do business with an organization. McDonald’s is the perfect example of the successful use of branding. When you go to McDonald’s, you know exactly what to expect. You know how long your wait will be, what customer service will look like, and how your food will taste. That’s the brand. Sure, the golden arches in their logo and the catchy jingle accompanying their commercials are part of their branding, but it’s not the focal point. Those only get people in the door, but experience within the business creates a long-term relationship with the customer. While future response sounds like the perfect solution to help businesses create a plan for the future, many worry that business leaders won’t take to the idea. Why would they pass up on immediate gains to combat something that might or might not happen in the future? At the end of the day, businesses operate to make money. Immediate gains are great, but the better option is apparent when you can make 10 times as much through a future response strategy. Branding is different from what it used to be, and those who do not adjust to a future response ideology will soon be left in the dust. Times are changing, and businesses are doing more to protect future profits. Will you follow suit? Pro Tip have started referring to branding as future response. By giving branding a rebrand, we change more than just a name; it’s a more precise definition that helps business leaders better track their progress toward their brand goals. Future response allows business leaders to devise plans that put them in the best position to tackle future challenges. As we head closer to a recession, future response will help business leaders know where to invest their resources. They’ll better understand how to sell more products at a higher price while also figuring out how to prevent losing customers to competitors. Future response can’t help businesses solve all problems, but you can figure out nearly everything long-term by devising a future response strategy. Since branding focuses on long-term gains and creating future demands, some experts
The Confusion Behind Branding It’s Time to Give Branding a Rebrand
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