Basics Of Success For Great Branding
In our often volatile and ever-changing business environments of the 21st century, in order to stand out businesses need a strong brand identity that knocks out all other competition and sticks in customers’ minds. In order to make your brand strong and stand out from the rest, it’s important to learn what this critical business term of brand-building means, and what you can do to establish one for your own company. You don’t need millions in the bank to drive your business. All you need are these simple tips.
Branding is a highly crucial part of any business, no matter if it’s large or small. A highly effective brand strategy means that you are giving yourself a higher advantage in the competitive markets. So, how exactly does branding affect your business? Let’s see.
The brand you create is basically a promise to your customer, what you are offering to them and what you are able to deliver on. By having a brand with a promise, what you are doing is telling them exactly what to expect from your products and services. The uniqueness and originality of your brand is determined by how you see yourself authentically at the core.
You can’t be many offerings and identities at once to seem like the best. You need to decide exactly who you are at the core, and who that brand is should be based to some extent on who your target customers want and need you to be depending on your target market.
The foundation of your brand is your logo. Your website, packaging and promotional materials – all of which should integrate your logo – communicate your brand.
Brand Strategy & Equity
A brand strategy is basically a map on how you direct your communications, to whom, and in what manner. Where you advertise is also part of your brand strategy. Your distribution channels are also part of your brand strategy. Another important aspect is paying attention to how you conduct your communications visually and verbally which ties into your brand strategy.
Consistent, strategic branding leads to strong brand equity, meaning the added value brought to your company’s products or services. This will allow you to charge more for your brand than what identical, unbranded products command. A very good example would be the mega-brand Coca Cola versus a generic soda. Because Coca-Cola has built a powerful brand equity and identity, it can charge more for its product knowing customers will pay that higher price for the product.
The added value intrinsic to brand equity frequently comes in the form of perceived quality or emotional attachment.
Defining Your Brand
When the time comes to define your brand, it’s a little like a journey of business self-discovery. It can be hard, time-consuming, and uncomfortable. You need to be able to answer the following important questions:
- What is your company’s mission?
- What are the benefits and features of your products or services?
- What do your customers and prospects already think of your company?
You really need to do your research and learn the habits, needs and desires of your current and prospective customers. Also, don’t rely on what you think they think. You need to know exactly what they think. Once you’ve defined your brand, how do you get the word out? Here are a few great tips:
- Get a great logo designed. Then place it everywhere. People need to see it and remember it.
- Write down your brand messaging. What are the key messages you want to communicate about your brand? Every employee should be aware of your brand attributes.
- Integrate your brand. Branding extends to every aspect of your business – how you answer your phones, what you or your salespeople wear on sales calls, your e-mail signature, everything.
- Create a “voice” for your company that reflects your brand. This voice should be applied to all written communication and incorporated in the visual imagery of all your online as well as offline materials. Decide whether your brand’s voice is formal, conversational, friendly etc.
- Make a tagline. It needs to be memorable and a concise statement that captures the essence of what your brand is and is trying to say.
- Create templates and designs for marketing materials that are consistent.
- Be true to your brand and stick to your brand promise.
All the best with your future bustling brands!