Brand identity refers to the name created by the business based on how it wants the customers to perceive it. It refers to the name, the logo, the communication style and other visuals created by the business.
Brand identity is made by the company and determines the number of sales the company will make. If the sales are too low, one may be required to re-brand his business so as to increase them.
When creating a brand, one needs to understand how the business is organized and how he wants to be perceived in the market. A brand affects how your clients, and prospects perceice you. It is the visual impression that determines whether the business succeeds or not. Before establishing the brand identity, it is useful that you carry out some research in developing the core values of the business, designing the mission statement and designing a guide that will map out the companies identity.
A compelling brand identity should be anchored on professionalism, expertise and commitment. It is a vital component of the business since it defines the business organization, clarity and its strength. Building a strong brand requires time commitment and discipline. It is the most valuable asset the business has and communicates a lot to customers, creditors and even employees.
A strong brand will build confidence, trust and optimism to the business and will determine the respect the company will enjoys among its clients and competitors. It influences the mood of the audience and can help to grow the business. When the brand identity of the business is injured, it can lead to its collapse. Thus as a businessman, you should consistently check and re-branding your business whenever you feel that its current brand identity is not adding value to the business or if it is too old.