You’d be hard-pressed to find anyone who doesn’t know McDonald’s golden arches, Apple’s bitten apple, or Nike’s swoosh logo. Consumers associate these brands with their various industries: fast food, technology and sports equipment. From McDonald’s “health” food to Nike’s high performance, the message is clear and focused.
While each represents something different, they all share the core principles of strong branding: knowing your audience, building customer loyalty, and creating brand voice. , personality, and core values. Creating a rock solid brand is an important part of creating any successful business, even a small one.
What is Branding?
Branding provides a strategic and unified identity to products, services and other public-facing products so that they are immediately recognizable to customers (and the public). Think of the brand as your company’s calling card. This allows your business to stand out from the competition. Its quality offers a clear, unmistakable promise that is expressed across all assets. Some serious video footage includes:
- Logo This is the visible identity of your company – it expresses what the company does and stands for. It can be a combination of logos, colors and other brand identifiers, and can be the first impression a customer has.
- Company Name. A unique name that is easy to pronounce and spell, and works with your logo to convey your company’s message and products to new and existing customers.
- Tagline A tagline is a memorable word that expresses your company’s purpose, while a tagline is a phrase that relates to your product.
- Voice or sound. Your company’s brand voice communicates your values and reaches your target customers in a way that will appeal to them and build brand identity.
An effective and successful brand attracts potential customers and builds brand trust, and can offer higher prices than competitors. Most small businesses start by developing a new product or offering an initial service. But creating a great image and posting it early has measurable benefits.
- Stand out from the competition
Differentiating your business from competitors offering something similar can be the difference between attracting a new customer or losing interest.
- Builds trust
A visible brand with positive reviews leads to more sales because it is trustworthy. Creating a brand of trust with customers improves the bottom line. According to Nielsen’s audience measurements, 85% of consumer purchases in more than 80 brands are for brands they already know, and 22% express concern about trying new ones.
- Promotes customer loyalty
What Loyalty Means for Business: Repeat sales in small batches of customers, also known as “churn”. Customers who trust your business are loyal and build value or equity. They are less likely to cancel and renew, in favor of spending money on your store or site.
- Draw talent
Companies have difficult types to attract not only merchants but also qualified employees consider the strong and trust. Those with great products but weak employee brands – such as poor work environment reviews or even leaders with bad reputations – will work harder to attract talent and may lose potential customers. assuming that the company’s standards are in line with it. theirs.
Because a strong brand can encourage repeat sales, customer loyalty, and business stability, it can also impact a company’s bottom line. In 2022, brands that topped the Forecast Brand Importance Index increased revenue by 133% compared to S&P 500 companies.
Now that you know what this power brand is, where do you start? Branding comes down to these eight steps:
- Determine your goals
Besides product goals such as “creating the best gluten-free pancake mix” or “inventing and creating a wiper that doesn’t leave streaks,” the company sets brand goals. For example, a company may want to increase customer loyalty or create a brand that commands a higher price than the competition. Understanding your brand development goals can be the foundation of brand strategy.
- Know your audience
Understanding your target customer is key to building a brand that resonates with them, and part of that process is marketing your business through the channels they use, such as social media and email newsletters. By conducting market research, you can uncover customer preferences and interests, and how those customers consume information. Analyzing current customers can reveal their needs or pain points, as well as which competitors they might buy from.
- Create your unique value proposition
A unique value proposition, or UVP, is your product’s competitive advantage and describes exactly how your product or service solves your customer’s problem better than the competition. Businesses with UVP know who the competition is, what motivates their customers to buy, and what they can offer that other businesses don’t. The UVP is not just a list of features, but a concise description of how the brand is unique and provides value.
- Identify your core values
Consumers are increasingly choosing to buy from companies that care about social issues, have a specific mission and have values that are consistent with their own, according to a survey by Harris Poll for Google Cloud. Listing your core values on your site not only shapes your company culture, but also affects how customers or investors think about your brand.
- Create a brand voice
Brand voice is its unique style and how a company relates to its customers. A brand voice promotes connection, community, and ultimately trust and confidence. To develop a voice, business companies need to know their customers (and potential customers) by creating a buyer persona. This is a customer concept that a business creates by studying the demographics, geographic location, and shopping habits of its customers. Some companies create guidelines to define the words, tone and style they will use in all communications. Your brand voice can be elegant and bold or casual and inspirational. Once you’ve established your UVP and core values, you can tell your brand’s story within that volume using content marketing and through digital and social marketing efforts.
- Create brand assets
These are brand colors, logos, fonts, packaging, slogans, and other elements that a business uses to express its visual identity and shape how its customers see and experience the brand. Some companies rely on the concept of color (like McDonald’s understands that red is attractive), while others like what you can do if you use their products, like how Nike’s swoosh how to hurry. A memorable logo and slogan make the brand recognizable, which leads to customer trust.
- Increase your visibility
Once you’ve established your customer base, understand the competition, identify your values, and create a strong brand and memorable asset. You can increase the visibility of your brand assets by using them in social media, social media and text communication. Businesses can also use search engine optimization (SEO) to increase their site’s visibility and increase its traffic.
- Make the brand stronger
Strong brands often create guidelines that help employees understand how to communicate regularly in the company’s voice in order to create better awareness and strengthen the brand in the eyes of the target audience. . Firms with a strong brand use their logos and assets in all their communications and always deliver on their promises, so customers associate the brand and tag with the quality and diversity they advertise.