Why Every Ecommerce Business Is Not A Brand?
Most businesses today are brands. Whether they realize it or not, it has become the norm to assume every company out there is a brand. Brands build trust and confidence in their customers. They make companies seem more legitimate. And why wouldn’t they? In the modern world, where consumers demand transparency, brands are forced to act like one.
Brands are everywhere. Most businesses are actually brands, whether they recognize it or not. You’ve probably heard of Nike, McDonald’s, Starbucks, Walmart, and even Apple. All these brands take advantage of their brand equity to increase revenue and profit. The problem is that sometimes, brands get too big.
With so much effort being put into branding, how can you tell if a given company is really a brand? The answer lies in understanding the difference between a brand and a business. Once you grasp this concept, you’ll be able to identify those companies that are truly brands.
A brand is a company’s reputation or identity. Some companies create brands by associating themselves with certain values, events, and causes. Others build brands out of their products (like Coca Cola). And some companies create brands simply through word of mouth (think Apple).
But why would every business want to become a brand? What does branding even mean? If you had to pick just ONE thing you wanted to be known for in life, what would it be?
Branding is much more than just slapping your logo onto something. Brands are created from the bottom up — from the way you interact with customers. As a business owner, you’ll want to choose a brand that aligns with your core values, personality, style, etc. The goal is to establish a unique identity that makes you stand out.
When choosing a brand name, look at how much potential it has to communicate a message that resonates with your audience. For example, Apple started off selling personal computers, but later branched into other categories such as phone apps and music. Even though they’re separate businesses, all these products share common goals and characteristics. This helped them develop their identity and establish a brand that appeals to people across a variety of industries.