Let’s talk about branding, brand identity and brand equity.
What are these elusive terms? What do they mean and how do they apply to you in building your business and brand?
1. Brand identity
Brand identity is how you see the world. What is your vision (the “what”), mission (the “how”) and purpose (the “why”)? How do you talk? What verbiage do you use? What is your brand’s aesthetic? All of these things are what creates your brand’s identity. This is what you’re going to put out into the world.
2. Brand equity
Brand equity is how the world sees you. It equates to good will. What good will are you putting into your community? What are you doing for your customers? What are you doing for the world? What type of messages are you putting out into the world and how do people view you and your message? Brand equity is the intangible blood of your brand. There isn’t a specific metric for reading its value, but you can feel it in your community. You can see it in the way people talk about you and your brand.
Branding is how you communicate all of the above.
For a more in-depth look at branding, brand identity and brand equity, make sure to check out the video above.