|Companies that form a brand tend to retain more customers and have an identity that sets them apart from others.
The Golden Arches: almost everyone in the world recognizes this fast-food beacon, regardless of whether they eat there or not. Why? Because it’s unique and it evokes subconscious emotion. It’s memorable and easy to recognize. No wonder over 3 billion people have been served by the McDonalds Corporation over the last 64 years.
McDonalds is more than just a chain of cheap burger diners, it’s a brand. And while most companies will never operate on the level as this and other major companies, there is no doubt that branding early on helps a business grow their customer base.
Branding – a marketing tactic that involves creating an identity for a business, product, or service – is one of the most effective ways to showcase a company’s potential. A well thought out logo, slogan, or even commercial jingle will worm its way into a consumer’s mind and remind them to patronize the associated business when a need for that specific product/service is needed.
Having a solid brand creates a sense that the business is organized and that there are professionals behind the name. A good logo will incorporate colors that are psychologically tied to its industry. Food service, for example, is linked to reds and yellows which trigger the parts of the brain that control hunger. Aside from McDonalds, Sonic, Burger King, and Dairy Queen are all known for their red or red/yellow color schemes – and that’s not a coincidence.
Branding is vital to smaller companies that wish to exude professionalism and garner a higher percentage of the market. A well-developed brand is often the difference between being seen again and again and fading from memory.