New Research On The State Of Branding
- Oct 30, 2023
- 2 min read
Written by: Kristen DeGroot, Executive Contributor
Executive Contributors at Brainz Magazine are handpicked and invited to contribute because of their knowledge and valuable insight within their area of expertise.
Thinking of re-branding? Or maybe you never got around to implementing a solidified branding strategy?
With branding being a crucial element when building out a marketing strategy, a lot of times, brands hire an agency that is an expert on branding, like ArtVersion. I partnered with them and surveyed 300 branding experts on their take on the state of the branding industry, and you can read the report here. It’s quite fascinating…
At The Campfire Circle, an agency that grows agencies, my most popular service is lead magnets in the form of industry reports, and this report is an example of what I deliver.
If you want your branding to resonate with your target audience, let’s review some key takeaways from the report.
Elements of good branding
When asked what the most important branding component is, most of the 300 experts said that its brand message and purpose and is followed closely by a good logo.
Another branding element is taking a stance on social issues and sharing your brand’s values. 70% of branding experts report that it helps a brand’s perception in a consumer’s eyes by taking a stance and emphasizing values.
Finding the right branding strategy for your agency
When it comes to the tone and voice of your marketing efforts, the majority of branding experts nail that down by surveying customers and contacts.
You may be wondering if your branding strategy is a one-time thing or a continuous effort. With 90% of branding experts reporting that it should be a continuous effort, the right branding strategy for your business will be ongoing.
If you’re doing a re-brand, more branding experts than not say you should make minor adjustments, not a full re-brand as not to confuse consumers.
The impact of branding
The overwhelming majority of branding experts believe that branding contributes to building brand trust and establishing credibility.
One thing that surprised me was that almost all of the 300 branding experts who weighed in reported that branding absolutely makes brands more profitable.
Conclusion: Next steps to level-up your branding game
With branding being vital for businesses to thrive, you and your target audience need to LOVE your branding. To reach this goal, most businesses hire a branding expert in-house, or they go with an expert agency.
If you’re going to do your branding in-house, start by surveying your customers to get their opinions so that your branding efforts are data-driven.
What do you think of your company’s current branding? Would love to read the pros and cons in the comments below!
Kristen DeGroot, Executive Contributor Brainz Magazine
Kristen DeGroot is the CEO of The Campfire Circle, an agency for agencies. She has been helping agencies grow for over a decade. Kristen has an English writing degree so a lot of her strategies that she implements for her clients are content driven. Basically, Kristen grows agencies so that agency owners can spend more time on what matters: Doing awesome client work.
