Our topic for this podcast is Branding.
In the Middle East, people tend to think of 'logo design' when they hear the word branding.
In a nutshell, Branding is strategy made visible through design. It is an enabler of 'your strategy' and 'how you must position your company'.
Branding has shifted over the decades. It's more 'inside-out' than the reverse. It comprises both sides of an entity.
People often confuse branding with advertising. Advertising is tactical whereas branding is more strategic.
Due to digital trends, in this day and time, a mere logo has changed into a living identity instead of being a static 'single form' restricted by rules. Thus, traditional marketing has come to terms with digital.
[Vipul & Sheyaf exchange a few ideas & examples indicating this evolution]
Next comes the Colors aspect. Vipul mentions how Careem & Meeras Holding set their identity apart in the UAE.
Eventually, design keeps returning back to basics, ie. flat design. This is more or so because flat designs are easy to live across multiple mediums.
Branding helps convey what a company gives priority to. And right after a great experience with any brand, it is the 'human feel' that ends up creating affinity & an ever-lasting connection.
Sheyaf mentions how Apple inc. positioned itself as one of the world's biggest brands. He mentions how using a powerful brand leaves a higher level of satisfaction within a user.
To add to this, Vipul mentions how Tesla has never needed to advertise due to it's strong branding foundations. Tesla is a fine example of how people believe in the mission and the vision of a brand that is ready to break the boundaries.
Vipul mentions a tip for both business owners and startups: Bring 5 people in, don't let them talk to each other. Give them a piece of paper and let them write a single word mentioning what the word represents. The next task is to derive results from these.
Additionally, Vipul mentions the success mantra for Zappos.com. All employees are made to learn & embibe customer service processes. Although their logos do not connect anymore, they have created a culture which people identify themselves with, and this is mainly via their staff. Behind the scenes, there's has a deep connection with behavioral sciences. When recruiting, Zappos even pays attention to how their candidate behaves with a taxi driver.
Thus, branding is not just something for the consumers but also for a company's internal employees... to guide them and let them know what they must aim for.
A tip for well-established companies: The brand identity of your company is not engraved on stone. If a person can reconsider buying a new smartphone, companies should be open to re-branding if necessary.
Unlike thinking where to position your name on a business card, true branding is an open way of conveying strategy.
When it comes to design, remember the rule: Less is more. Instead of adding things to something, find out how you can take things out.
A few authors who inspire branding ideas:
- Armin Vit
- Simon Sinek
Vipul mentions how we must also take lessons from two of the richest personalities in the world: Warren buffet & Charlie Munger. They picked up stocks and businesses not only based on figurative values but based on the brand, and it's potential to influence a global populous.
Lastly, Branding is the broadest field one can be in. If you can understand it well, you could be a very good value investor.