Branding is all around us and its such a part of life that most people haven't realized. Did you know that the things we associate with a product is all based off branding. For example, when you think of Apple, you think sleek, overpriced, but must have gadgets. So, why do we brand?
Branding is one of the most important aspects of creating a business. Make no mistake about it; whether your business is large or small a favored and recognizable brand is by far one of the most valuable assets a company owns.
Branding sets the tone for how your business will be perform within society. It helps to build your clientele and inform people about your organization as well as creates its identity.
Did you know that according to a Nielson survey approximately 60% of new products purchased was done so by consumers who were familiar with the brand.
In the market there are hundreds of competing businesses, therefore it is important to find ways to differentiate with a concrete brand developing strategy of your own.
Basically, your brand is your oath to your consumer. It tells them what to expect from your products and services, and it sets you apart from what your competitors are offering. Your brand is based on who you are, who you want to be and who people perceive you to be.
Everyone wants their business to be known as the best in the industry in a wide range of classifications, but your business cannot be all things to all people. Your identity- your brand- should be based on who your target audience is and what their needs are.
The design of your website, the packaging of your products and your promotional materials are all aspects of your business that should integrate your logo. Your logo is the foundation
of your brand.
The how, what, where, when and to whom you plan on delivering your brand messages to is what is known as your brand strategy. To create a strong brand equity, one must be consistent. This will in return lead to your business gaining value which will allow you to charge more for your company’s brand than what other businesses of similar nature or of imitation may charge.
Now, to get to this stage, one must define their brand. The journey to define your brand can be difficult, time consuming and hectic. To make this task easier you need to establish your company’s mission, the benefits of your product or services, what your customers already think, as well as, the qualities you want to be associated with your company. It requires a lot of research and time. As a business owner you need to learn the needs, desires and habits of your current and prospective customers. Remember that society is always changing, do it is necessary to study your target audience to continuously be able to provide them with the ideal products and services.
Learn the market; evolve and grow with it. Model your brand to fit it.