Brand Development – 3 Steps To Get You Started
As the marketplace continuous to become overcrowded with companies offering similar products, the chances of your business going unnoticed also increase. A good brand helps elevate your business by creating a differentiation that gives customers a reason to choose you over competitors.
To a small business, however, building a brand can seem like a mountain of a task. When you compare your brand to other more established brands, a sense of hopelessness can engulf you. But developing a brand for your business is not an impossible feat: difficult, maybe, but not impossible. Besides, everyone has to start somewhere.
There isn’t a magic formula or a set of rules that you can use to instantly create a reputable brand for your business, ultimately it will take effort and resources. Below are 3 steps that you can follow to get you started on developing a brand for your business.
- Identify your target market. It sounds like something simple, but you’d be surprised by the number of businesses that haven’t specified their target market. To create a brand that resonates with them, you’ll have to get a deep understanding of the people you want to sell to, how they think, their values and what they expect when buying or interacting with a business. Once you understand who your brand is meant for, you can create a brand that is specifically tailored for that crowd.
- Define your brand. The second step in the brand development process of any business is brand definition. The information you have gathered in the first step will come in handy at this point. Come up with a unique proposition for your target customers that differentiates you from your competitors; something that stands out.
Choosing a brand name is crucial to brand definition. Choose a brand name that delivers your brand message together with the graphics and slogan to go with it. Your brand’s graphics (that include the logo) should be able to communicate your company’s values and personality at a glance.
Create brand values and etch them into the company’s mission and vision so that they guide the way you and your staff conduct yourselves at all times. This is because branding goes beyond a name and a fancy slogan, it’s what your customers experience when they interact with your business or products.
- Market your Brand. Get your brand out there. You need to constantly communicate your brand’s message to your target audience for them to know that you exist. Thanks to the internet and social media, brand marketing does not have to cost a fortune. Even small businesses with limited marketing budgets can share a platform with established brands to bring customers to their doors. Find ways to appeal to your customer’s emotions as most purchases are emotion driven.
When it comes to brand development, a long-term rather than short-term approach should be employed. So make sure that there is consistency in the quality of products you put out, messages and general audience appeal. This will help your brand grow and maintain a loyal following.
Remember, the foundation of a powerful brand is trust; it takes a long time to develop but with a single mistake, years of development can be reduced to nothing.
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