Branding can make or break a business. It’s as simple as that.
Want proof? Well, consider that 59% of consumers prefer to spend their money on brands they’re familiar with. In essence, a known and trusted brand generates higher revenue.
Clearly, having a recognizable and respected brand is a positive thing. It’s essential that any individual or organization puts time into developing theirs.
But how do you do it? Indeed, quality branding isn’t easy. If it was, then there wouldn’t be such disparity in the brand names out there.
Want to learn exactly what goes into building brands successfully? Keep reading to find out.
What Is a Brand?
The first step to understanding how to build a successful brand is knowing what a brand actually is.
Think about branding a cow. The rancher uses a branding iron to mark the animal. It allowed any passers-by to easily identify its owner.
The essence of this traditional ‘branding’ can be seen in our modern understanding of it in business. The brand is very much an identifying label. It is who you are. However, it’s developed over time to encompass what you represent as well.
As Jeff Bezos, founder of Amazon, put it so succinctly, “your brand is what other people say about you when you’re not in the room”.
In that one sentence, Bezos successfully summarizes the notion of brand identity. This is an extension to your brand. It’s what you stand for, the promise you offer, the culture you represent, and the general personality of your business.
Why Is Brand Building Important?
But why does it matter?
Well, imagine seeing a friendly face in an unfamiliar environment. You immediately gravitate towards it, right? The same goes for a brand.
Think about the biggest brand names out there. Nike, Coca-Cola, Apple, Google…These words are more than just company names now. They’re iconic entities in societies around the world. Each has successfully cultivated a brand identity that speaks to its consumers.
To buy the products and use the services is to say something about yourself as a user.
Brands become the face and personality of a business, build its credibility and market authority, drives the mission statement, and provides a foundation from which all marketing and adverts move forward.
Think of a brand as a beacon. It attracts people to it. People see it, relate to it, and want to associate themselves with it. That all equates to customers, revenue and profits. Conversely, a poor brand equals a big business problem.
7 Top Tips for Building Brands Successfully
From business to individual, your brand is vital to success in any industry. Here’s how to build your own brand identity the easy way.
1. Understand the Market
Some brands get lucky.
Their founders have a unique personality that they imbue their product/service with, which appeals to their target audience. The brand was there from the start. They become a hit overnight.
However, more often than not, serious market research is required.
It’s important to identify your audience and learn what they want to see, how they want to interact, and what’s important to them all around.
Look at competitors in the market. What are they doing right? What are they doing wrong? How can you fill a gap?
2. Decide Your Identity
You get to decide your brand’s identity.
And it’s vital that you know what you want from the start. All decision-making is easier when you have a solid understanding of how you want to come across. Find your focus, and move from there.
Deciding a mission statement for your business will help. These select statements define and orient your goals and positioning in the market. This is your ‘why’ (AKA, the reason your business exists). It’s vital to success.
3. Use Language Effectively
Language is key to brand development.
After all, how we express ourselves often dictates the way people perceive us.
Thus, we have direct control over public opinion by means of language selection. Bring your audience and the identity of your brand to mind. What would they want to hear? How would the personality of your brand address them?
It will determine the tone of voice, style of conversation and general presentation of your brand.
4. Design the Face
Next up you need a logo.
This will be the face of your brand. It’s how your business will be recognized on the market and should summarize your identity in one small image.
Now, design work is a science in its own right. There’s all manner of important factors to think about, from the colors and fonts to the overall layout. It’s often best to work with a professional to get the best results. Visit this agency for help if necessary.
5. Create a Slogan
A slogan is akin to a catch-phrase for your business.
Imagine your logo in written form. Think of Nike’s ‘Just do it’. It should make a strong impression and deliver your message and personality succinctly. Get it right and you have a memorable asset to keep customers coming back for more.
Nicely, the slogan isn’t fixed. You can easily update it over time. Indeed, it’s a handy way to rebrand your business if required.
6. Develop a Presence
You need to get your brand name out there.
This is particularly true of personal brands. But it extends to businesses and organizations too.
Get on social media, develop a website, start a blog, go to conferences, set up at trade shows, network at marketing events, and interact in online communities. It will all help to get your name out there and spread the message about your brand.
7. Know What Not to Do
Effective branding is about knowing what to avoid as much as what’s required.
One scandal can put an end to a decade of positive reception. However, there are smaller things to avoid as well. For instance, consistency is king. Avoid mixed messages to ensure a smooth journey to expanding your brand.
Time to Get Building
There you have it: a complete guide to building brands the right way.
Brands are a central feature of running a successful business. With it, you’ll convert new customers and retain old ones with ease. Without it, you’ll struggle to establish a presence for yourself in your particular industry.
Hopefully, this post has highlighted the importance of cultivating a positive brand identity and provided the preliminary tools to make it happen.
Like this piece? Interested in starting a business? Click here for 7 great home business ideas.