Importance Good Branding

5th April 2012

good-brands

Branding is amongst the most significant areas of any business, small or large, retail or B2B. An effective brand strategy offers you an important edge in increasingly competitive markets. But what precisely does “branding” mean? So how exactly does it affect a small company like yours?

To put it simply, your brand is your promise to your customer. It tells them the things they can get from the services and products, and it also differentiates your offering from your competitors’. Your brand comes from who you are, who you wish to be and who people perceive you be. Have you been the innovative maverick within your industry? Or even the experienced, reliable one? Is your solution the high-cost, high-quality option, or perhaps the low-cost, high-value option? You simply can’t be both, and also you can’t be all things to any or all people. What you do should be based to some degree on who your target customers want and need one to be. The building blocks of the brand is the logo. Your website, packaging and advertisements, all of which should integrate your logo, communicate your brand.

Brand Strategy Equity

Your brand strategy is how, what, where, when and also to whom you propose on communicating and delivering on your brand messages. In places you advertise is a part of your brand strategy. Your distribution channels are also part of your brand strategy. And whatever you communicate visually and verbally are element of your brand strategy, too.

Consistent, strategic branding contributes to a powerful brand equity, which means the additional value delivered to your company’s goods that allows you to charge more for the brand than identical, unbranded products command. The most obvious illustration of this is Coke vs. a plain soda. Because Coca-Cola has built an excellent brand equity, it could actually charge more for the product and customers likely pay that higher price. A added value intrinsic to brand equity frequently comes in the form of perceived quality or emotional attachment. By way of example, Nike associates its products with athletes, hoping customers will transfer their emotional attachment from the athlete to the product. For Nike, it’s not only the shoe’s features that sell the shoe.

Defining Your Brand

Defining your brand is like a journey of business self-discovery. It may be difficult, time-consuming and uncomfortable. It needs, without doubt, that you simply answer the questions below:

  • What’s your company’s mission?
  • Consider some of the features and benefits of your products or services?
  • Exactly what do your consumers and prospects already think about your company?
  • What qualities would you like them to associate with your business?

Do your research. Study the needs, habits and desires of your current and potential customers. And do not depend on what you consider they think. Know what they think. Because defining your brand and also developing a brand strategy can be complex, consider leveraging the expertise of a nonprofit small-business advisory group or a Small Business Development Center . Once you’ve defined your brand, how do you tell others? Here are some simple, time-tested tips:

  • Obtain a great logo. Place it everywhere.
  • Write down your brand messaging. What are the key messages you need to communicate about your brand? Every employee should become aware of your brand attributes.
  • Integrate your brand. Branding reaches to every facet of your enterprise the way you answer your phones, what you and your salespeople wear on sales calls, your e-mail signature, everything.
  • Build a “voice” for your company that reflects your brand. This voice needs to be applied to all written communication and incorporated in the visual imagery of all materials, online and off. Is your brand friendly? Be conversational. Is it ritzy? Be more formal. You get the gist.
  • Develop a tagline. Write a memorable, meaningful and concise statement that captures the essence of the brand.
  • Design templates that will create brand standards for the marketing and advertising materials. Make use of the same color scheme, logo placement, feel and look throughout. You don’t need to be fancy, just consistent.
  • Become true to your brand. Customers won’t come back to you or refer anyone to someone else if you don’t deliver on your brand promise.

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