Branding is a critical aspect of any business, yet it can be a costly endeavour. Even a minor re-branding can cost thousands of dollars. As a business owner, it's essential to understand what branding is and how it can benefit your business.
As a business owner, you have multiple brands. Each function falls under a different brand to avoid confusion for customers and suppliers.
Like many business owners, you own several brands that have different functions. For example, you are in partnership with two companies that build boats, sell major yacht marques, act as a brokerage, and provide yacht repair and restoration services. Each of these functions falls under a different brand to avoid confusion for customers and suppliers.
Brands need clear identities, despite common ownership. Brand Manuals specify colours, typefaces, and logo-marks, but details only unify identity.
However, common ownership of these companies can lead to confusion, especially among your workers who share their specialized skills across the entire range of companies. To avoid this, it's crucial to ensure that the identity of each company is clear and distinct.
One way to achieve this is by developing a strong brand identity for each company. For example,
channel.R could be positioned as the company that "takes the stress out of boat ownership," while
Emek Marin could be positioned as the “go-to provider of technical services” for a wide range of boat owners. Similarly,
Y2C could be positioned as “the premier provider of charter services”.
A Brand Manual can help to specify the colours, typefaces, logo-marks, and other details for each brand. However, these details are just the beginning. They unify the identity of each company, but they don't necessarily separate them.
To separate company identities, each requires a strong brand.
To create a truly distinct identity for each brand, it's crucial to develop a unique voice, personality, and style that resonates with your target audience. Just as the navies of different countries wear different uniforms and sail under different flags, they also have a unique culture, traditions, and values that define their identity.
In conclusion, branding is a powerful tool that can help to differentiate your business from the competition, build customer loyalty, and drive sales. By developing a strong brand identity for each of your companies, you can ensure that the right people are contacted when needed, and your business can thrive in an increasingly competitive marketplace.