5 Branding Myths That Every Entrepreneur Should Know

Confused about branding and how it differs from marketing and business strategy? You’re not the only one. The concept is inherently vague and encompasses many different aspects. 

Because there is so much misinformation and misunderstanding around branding, we have decided to debunk 5 of the most common myths so you can reevaluate your branding strategies and maximize your brand’s awareness and, ultimately business growth.

  1. It goes way beyond your name and logo. 

Let’s be honest; if all it needed to make an excellent brand were a good logo and a perfect color palette, we would not have brand designers. Of course, an effective and relevant logo is a crucial part of your business’s visual identity and part of your branding because logos help clients and potential clients identify and remember your brand. However, it is not the brand itself but instead an essential aspect of a comprehensive brand identity. 

  1. It does not cost you a ton of money. 

As the most notorious brands are usually large global corporations like Coca-Cola or Pepsi, it is no surprise that there’s a massive misconception that branding is solely for big companies because it costs a lot of money. Of course, without a doubt, branding will cost you time and money to invest in your branding collaterals. The most significant part of creating effective branding is about the overall experience your brand gives to your target consumers. 

It is often just as simple as improving how you approach things internally to make the whole branding experience better.

  1. You don’t have to be corporate all the time. Have some fun! 

Flexibility is the new consistency. Many brands have failed to make an authentic connection with their audiences simply because they have ignored the fact that each platform appeals to different kinds of audience segments. By overlooking this, they take the same approach on all social platforms. 

While it is still best to maintain a few main elements of your brand, learning to be more flexible in adapting your message and identity depending on the context and platform would greatly benefit your brand and message.

  1. It will evolve over time, so don’t sweat about it. 

Consistency with your branding and brand messaging helps you build connection and trust with your audience. However, it is entirely normal and expected for a brand to evolve with time because of many factors such as expanding the market or diversifying its offerings. A rebrand can involve refreshing the existing logo with some touches and refreshing branding guidelines to cover more usage. 

  1. Your brand “values” and your brand is unrelated.

Branding and a practice’s values are far too often considered two separate things, but that is far from the truth. A brand’s stability and credibility highly depend on a set of values that can be established and followed. Your brand’s value and promise must take center stage in relating to your brand’s work methods and culture to build a brand effectively. This is what consumers will connect and build connections with. 

Whether you have recently started your business or it has been around for years, branding is essential no matter how big or small your business is. 

And finally, it may seem easier to spend a few dollars on tutorials and DIY your own branding because you obviously know your brand better, it is not always the best for your business. Consider talking with a strategic brand agency to work with you on your brand strategy and discover ways to heighten your consumer’s experience.

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