At a meeting a few weeks ago, a graphic designer and I sat down where people were swapping business cards. I checked out his logo, and he studied the name on my business card.

"I know that logo. We've been in touch previously," I said.

"That's right. I know your name," he said.

Though we weren't able to determine when or why we'd exchanged mail previously, we guessed it was at least five years back. Neither of us has an extraordinary memory. Instead, he had created a distinctive visual identity for his design services, and I had devoted effort to relating my name with creative marketing.

For about five years his look and my status had lurked in the other's memory banks, while thousands or hundreds of thousands of other business identities had come and gone without making a substantial trace. Why? Memorability. It illustrates a vital element of successful branding.

What is Branding?

Branding is the process of making unique and durable perceptions in the minds of shoppers. A brand is a persistent, distinctive business identity intertwined with associations of personality, quality, source, liking and much more.

Although most people people relate brands with major companies, the smallest of businesses can use branding techniques with excellent benefits. When a home-based craftspersons ties a nicely designed label on all her products telling the tale of who she is and where her designs originate from, she's branding her work. When the local market bundles groceries in totes displaying its logo in place of generic "Thank you!" or plain totes, it's branding. When your logo is exhibited with any of your internet marketing endeavors, it's branding.

Although we relate brands with national names such as Crest, Huggies or Healthy Choice, branding doesn't necessarily require the monetary resources of Procter & Gamble. Branding doesn't even need a product or a tangible shipping mechanism. Branding comes with repetition which is quickly done with any internet marketing operation.

Methods of branding include association of a company with logos, distinctive colors, slogans, musical sounds or songs, unusual characteristics, mascots, presentation, an interesting name, behavioral hallmarks and much more, easily executed for the home based business also.

Why Branding Pays Off

Time, money and effort used on branding comes back many times over when the process plays out intelligently. Here's why:

1. Memorability. It's simpler to recollect the branded company compared to the "what's its name?" one.

2. Loyalty. When individuals have a good experience with a memorable brand name, they're more likely to buy that product or service yet again as opposed to contending brands.

3. Familiarity. Psychologists have proved that familiarity induces preference, and this helps make even non-customers more likely to recommend a brand they are aware of.

4. Top quality graphic, premium price. Branding can lift what you sell out of the realm of a commodity, with shoppers prepared to pay more for the well-branded products.

5. Extensions. With a well-established brand, you may spread the value you've attained to a related new product, service or location more easily.

6. Greater company worth. Creating your company into a brand typically means that you can secure a higher price for the company when you choose to sell it.

7. Lower advertising expenditures. Although you should invest money to create a brand, once it's created you get a bigger bang for every marketing buck using it.

8. For buyers, less risk. Individuals often choose the brand-name supplier over the no-name one when scared of the outcomes of a mess up.

For those reasons and even more, branding fattens your bottom line.

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