What is branding and why it is important?
Branding is the process of researching, developing, and applying a distinctive feature or set features to your organization so that consumers can begins to associated your brand with your products. These features need to be related to your customer needs the Oil & Gas Operators.
Branding is one of your organization’s most important assets. It gives your organization an identity, encouragers costumers to buy from you, and support your marketing and advertising.
Branding gives your business an identity beyond the product or service. It gives consumers distinguish your business across every medium.
Branding Terms to Know
Brand Awareness
How familiar is the oil & gas industry with your brand? With high brand awareness it leads brands to becoming buzz worthy and trending.
Brand Identity
Creating a personality for your business, and a promise you can make for your costumers. Identity is typically comprised of your values, how you communicate your product and services, and what you want people to feel when they interact with you.
Brand Recognition
The process of creating and maintaining your brand. It includes the tangible elements of your brand. Your brand is a living, breathing assets, and it should be managed.
Brand Trust:
How strongly customers in the oil & gas industry believe in your brand. Do you deliver on your marketing promise? Do you and your employees go above and beyond? These things can trust among your costumers.
When building your foundation, a rule of thumb indicated that 5% of your overall revenue should be dedicated to your marketing budget. Your foundations should include; brand, marketing strategy, website design and development, and other things of this nature. To strengthen your foundation, 60% of your marketing budget should be dedicated to brand development.
