As a small business, you can compete with loyal consumers and unlimited marketing budgets against big business. That is why you have to find ways to differentiate–through your solid branding method. Nielson’s survey indicates that 59% of the customers choose new products from brands they are familiar with. Branding is not about a cool logo or a strong advertisement. Branding is always mistaken for the company’s logo. A logo is a part of branding but not a whole package. A brand is the company’s promise to the customer. It is about finding out your audience, understanding what they want and how can you help them fulfil their needs. Branding is important, it can grow your business future like Starbucks, Mcdonalds, and Apple.
What comes to your mind on seeing this?
If you are like me, it is delicious fast food
What comes to your mind when you see this?
To me, it is creativity, quality, technology
This is what branding does for a business. A strong brand is known, whether or not its name is printed for reading. So, how do you succeed in branding your company?
1) Figure out the purpose behind your brand
Every brand has a powerful purpose behind it which wakes you up every day to serve other people through your products and services.
Ask these questions to yourself to define brand purpose
Why do you exist, as a company?
- What problem do you solve?
- What makes you different from others?
- Why people should come to you?
2) Build a Brand Mission statement
The mission statement clearly defines the purpose of your company. This mission should be consistent everywhere from logo to the tagline, social media posts, packaging, images and other elements of your brand.
We are all aware of the Nike tagline: Just do it. Do you know the mission statement? Nike’s mission statement is “To bring inspiration and innovation to every athlete in the world“. Nike goes even further by adding a footnote to the brand mission: “You’re an athlete when you have a body.” Think about how large the target market is with such a disclaimer!. The company has built a reputation and identity that can lift the target to satisfy “everyone.” Start small as you brand your company and try to focus first on your market. Your loyalty to your brand may increase in time to expand your reach.
3) Introduce emotion into your Branding
A brand story is a chance to engage with the customers on a personal level, creating a strong emotional bond. Never address what your company can do while developing a brand story but why it is important to your customer.
For instance, take sweets. Sweets are not healthy. They are high in calories and makes you fat. But why people buy sweets? Because sweets stand for celebration, happiness, and special occasions. Sweets make people feel good. It evokes an emotional response. Ask yourself how you can touch people emotionally while working on your brand. Can you ensure the audience feel safe? loved? Part of a special group
4) Establish loyalty with existing customers
Your existing customers are those who trust you already. Why not return the love to them? Let your loyal clients feel special.
- provide customers who buy goods frequently with exclusive deals and discounts.
- On social media, shout out to them.
- Keep contests and offer special and precious prizes.
Remember that returns should be associated with the voice of the business.
5) Track competitor brands within your industry.
Never copy what the best brands in your industry are doing. Yet you should know what they are doing well (or failing). Check out your key competitors or brands. Examine how well they create a brand name. Watch your competitors closely. How are they working on their brand? Is their brand, recognizable, powerful and emotional? Can you improve the following best practices?. By branding, you’ll have a steady stream of loyal buyers coming your way.