If you are a small business reading this or have already succeeded in creating a medium-sized company with a respectable turnover, this is for you. No matter, at which juncture you are, in the sphere of business, this may help you. The first thing today, that rings a bell in the minds of the consumers and markets, is your brand presence. You must have noticed, how people remember certain brands, even if they do not advertise much. On the other hand, some brands never get in touch with people’s emotional minds, no matter, how much they advertise.
The sole reason behind this distinction, is brand presence. So, what is a brand, after all? A brand, in simple terms, is a product, or service, that is publicly separate from others offering the same thing. You can apply the concept of branding to a few products or services, or to the entire company or firm, as a whole. The name, packaging, pricing, customer’s behaviour, all come together to create a memorable brand. You can identify a brand, with the help of its signage and logo. Your brand becomes effective, once people start identifying the same through the logo, signage, or the mere mention of its tagline.
Now, there are a few basic factors, which help in brand building.
Basic Factors That Make A Successful Brand
With online businesses expanding quite fast, and new companies coming up every other day, the market is tough. So, you have to think of innovative ways to bring your brand in front of customers, among millions of others.
- Customer Persona – Most companies and businesses make the mistake of thinking, that the brand is about them. However, it is not so. Unless you are able to weave a story along with the needs and desires of the target customer, your brand is nothing. The brand story is not at all about the business, but it is about the customer, you are trying to target. You are actually fitting into the story of the customer’s life. Thus, you have to start with the mere basics, of defining your target customer. It can be based on the demographics and psychographic characters. You have to find out, what they need and what they desire. Furthermore, you have to find out their motivation. It is all about creating a customer persona, in the first place. When you think about one persona, for your products and services, you will be able to develop crisp content.
- Brand Position – It is the next important thing, that you must engage in. This will answer your questions about why any customer will choose you, over the others. It is also the reason, for your existence. Through this, you will be thinking about ways to present yourself as the most viable option, before your brand. This also charts the pathway, through which, you will be designing all your marketing activities.There are a few things, which you have to take note of. They include your strengths. Try to recall, how people who have purchased from you, define you. What are the things that separate you from the crowd? What is your USP? So, by now, you probably know, that introspection is an important part of the process. So, you decide at this stage, what personality your products and services showcase.
- Brand Purpose – Now, you are getting closer to another side of your prospective customer. You will be able to develop that emotional connection even better now. Till now, you have paid a lot of attention to your offerings, and uniqueness. Now, you have to delve deeper. Brand purpose taps into some deeper resources. It is the emotional connect or impact, which you want to create. You have to fulfill the need for self-actualization. If you are able to do that, half your job is done. If the target customers believe, that their sense of purpose and yours align, they will stay loyal to your brand.
- Brand Values – It is the next thing, that affects your brand. People really do not care, what you stand for. All the brands will advertise and say that they are committed to safety and quality. Moreover, few will also say, that they have used sustainable products. However, people want to know, what you abhor. You should clearly state that you stand against some of the practices in society. This creates a deeper connection. People will understand, that your goals for existence are clear in your mind.
- Communication – This is a very important factor that affects branding goals and strategies. It also tends to shape the customer perceptions. You need to communicate your firm’s reasons for existence, the offerings, and its positioning to the market, in general. Awareness is the key to achieving further. You have to reinforce the brand image by advertising, sales personnel making some cold calls, and PR. Keeping your consumers posted, is crucial to your growth. Untargeted advertisements may be well on their way out, as the results are scattered. Instead, you can think of ways to engage your current customers. Giveaways are one of the best ways, apart from announcing contests. You have to make your customer excited, emotionally and mentally. So much so, that the customer must think, that you are the highest authority in your domain. You can also organize events, sponsorships, and felicitate the repeat buyers. Polls are also in, and can give you a quick headway.
- Long-Term Awareness – You also need to strive further to generate awareness and build customer loyalty, with a long-term perspective. You should understand, that maintaining all the above strategies is essential, even if you are not making substantial profits initially. However, you cannot allow the customer to forget you. You have to develop credibility and trust, so that customers who are absent from the purchase scene also remember you. That is what consistent performance is all about.
Investing in brand building is a long-term process, with long-term results. If you have extra resources, which you do not know, what or where to invest in, then invest in branding activities. It will surely take your business far.