I had a conversation earlier this week with Suzanne Falter-Barnes, the terrific media and branding expert of Get Known Now, who helped me establish my identity as The Entrepreneurial MD. Our chat reminded me of the power of having a well-thought out and consistent brand.

I figured it was time to write about branding again, as I am on a kick to help all my readers with businesses stand out in your (likely) crowded marketplace. This week's podcast was a part of this effort.

So what is a Brand?

From Wikipedia:

A brand includes a name, logo, slogan, and/or design scheme associated with a product or service. Brand recognition and other reactions are created by the use of the product or service and through the influence of advertising, design and media commentary. A brand is a symbolic embodiment of all the information connected to the product and serves to create associations and expectations around it (italics are mine).

In a nutshell, your brand creates your recognizable presence in the marketplace, and shapes your identity as an expert. If you select and nurture your brand carefully, you will also communicate your key benefits to your target market.

Just think of a car .... such as BMW ("The Ultimate Driving Machine"), Volvo ("for life" -- we automatically think safety, longevity of a car) or PT Cruiser ("Refuel your Soul" - fun, retro). Each of these cars generates an almost automatic mental image for us - we have a sense of what the car stands for.

That succinct little tag line or slogan that accompanies the name is one of your branding tools - it's an "in a blink of an eye" communication about your product or service that, when effective, evokes an emotion, a visual image, or a giggle. And it very often embodies the company's core Mission. Or your USP - marketing language for your Unique Selling Proposition (a special take on your offer, that makes your business stand out as different!)

As Suzanne reminded me, a good brand is memorable, has energy, is clear and simple and/or offers obvious benefit.

And if you are struggling to come up with a strong name and a worthy USP, here is a handy Business Name & Tag Line Generator tool offered by marketing expert Marcia Yudkin. Let your creative juices flow!

Once you have a short list on 3 to 5 names and USPs, don't forget to test them out -- on your target market, rather than family, neighbors and friends if possible.