Speaking the Lingo: Branding Terminology You Should Know
Almost every sector you come across will have its own lingo and terminology. Branding is no exception. While some of it is undoubtedly a bit pointless, there are some branding terms that are vital to understanding your own brand, how it works, and how to take it to the next level.
Read on as we look at six of the most important branding terms and what they means…
Brand image is the impression your brand gives to its target audience or customers. It’s how they see, hear and experience your brand. This can be conveyed through advertising, customer service and your products or services, as well as being communicated by simple word of mouth. But it can’t always be controlled by your company.
Going deeper than brand image, brand identity refers to who you actually are. Why does your company exist? This will typically be conveyed through your mission statement, but it should be present in everything you do. In an ideal world, identity will align with your brand image. Crucially, however, it can be managed and controlled from within.
Brand architecture is how sub-brands are structured within a wider brand. That could be products and services which share the same brand, known as a branded house. Think Coca Cola, Diet Coke and Coca Cola Zero.
Alternatively, you could have several self-contained brands, known as a house of brands. Sprite, Fanta and Schweppes, for example, all owned by Coca Cola.
As you can see with this example, the different types of architecture can overlap and interrelate as brands grow and become more complex.
As a general term, equity refers to value owned by an individual or business. In branding, it’s about the value your brand adds to your products or services. People are happy to pay more for products from certain brands, simply because of that brand. Why? It could be down to perceived quality, environmental awareness or superior customer service. But it always boils down to brand equity.
One of the most popular branding terms is USP. Short for Unique Selling Proposition or Unique Selling Point, it focuses on one feature of your company, service or product which sets it apart from the competitors. Whatever your USP, it’s important to convey it quickly, clearly and consistently to potential customers.
Awareness is a branding term you’ll hear quite a lot. But what exactly does it mean? In short, brand awareness is how many people in your target audience are consciously aware of your brand. Going beyond simply recognising the name (brand recognition), it assesses whether they know your USPs and brand identity.
Getting to grips with branding
While we’ve covered some of the most important terminology, branding lingo stretches far beyond the terms listed above. If you’re looking to get a better grip on branding, how it works and how to improve it for your company, BGN can help.
From insight and strategy to brand design and onboarding, we specialise in creating and implementing unique, effective brands for companies in almost every sector. Any questions? Don’t hesitate to call our team on 0161 808 4557 or email email@example.com.