Branding: The Recipe for Creating a Successful Brand 2018
Branding is an extremely important element of all successful businesses. It can turn your company from a simple place of business into a clout generating internationally recognized corporate identity.
A solid understanding of what your brand does, who their customer base is and an ambitious vision of what you want it to become is a vital first stage on this journey. However, without intense research, trial and error and dedication your brand will not receive the recognition and generate the consumer popularity desired.
To get a better understanding of what makes a successful corporate identity, the many various branding giants should be analysed carefully. This will help gain an understanding of how these brands became so prosperous, that some have an almost cult-like following by their customers.
More than likely you have already used several of these mega brands for your own specific uses today. You might have brushed your teeth with Colgate, put on your favourite Nike trainers and drove to work in your Peugeot made car. These brands have significance in so many people lives nowadays, but they all had to start from somewhere.
Take Richard Branson’s Virgin for example. Today its immense brand portfolio stretches from Trains to Mobile Networks, but when Branson first put the Virgin brand into action, it was for a mere music label and that alone.
To take a brand from a one trick pony to a multi service empire can be achieved by following guidance such as the following:
1.Determine both your general and specific target market.
When undertaking the branding process, it is essential to determine as accurately as possible who is going to be purchasing your products/services regularly. These brand loyalists are essential for a successful turnover.
You want the right person viewing on your various ads and consuming your content. Multiple various demographics are needed to be taken into consideration to accurately define your target market such as:
- Household income
Once a general demographic analysis is done you should know roughly who to market your products/services to. A more specific investigation of your main consumer base’s definitive features should be undertaken. This will ensure that your products are tailor-made to your customers needs. This ensures that they are seduced into making regular purchases because of how well their needs our fulfilled. Examples of specific demographics:
- university students who enjoy sport
- company directors who like to travel
- single parents who work from home
Using these specific demographics to narrow your audience focus will give you an edge over competitor brands. This because customers will feel appeased at how moulded your brand is to their various wishes. Identifying your brands target audience is a process that will benefit all areas of your company. Particularly when it comes to creating a marketing strategy.
2. Create an effective mission statement.
Before you can start branding towards your target audience may grow to love, you need to know what benefits your business provides. You need to state this clearly where customers can see it. A mission statement, a summary of the aims and values of your company, is an effective way to achieve this.
The reason it is such an important factor in a brand’s success is that it provides a reference point. This allows all company activities to remain consistent in terms of what they are hoping to achieve. Everything from your various graphic designs to your readable content to your employee attitude should reflect your chosen mission statement.
An branding example of a highly effective mission statement is Microsoft. “Our mission is to empower every person and every organisation on the planet to achieve more”. This works well as a mission statement. It gives the impression that all the various products and services that Microsoft provides are sculpted to ensure they help those who buy them to excel at whatever they need it for.
An effective mission statement like this will not only attract potential customers, but will increase brand loyalty. Consumers feel guaranteed that if they interact with your brand, they will get exactly what they’re looking for.
3. Research how your COMPETITORS have tackled their branding.
No matter how specific you narrow your target market down to, there will always be rival companies competing for that market’s purchases. Carefully researching these main competitors can give you a good concept of your industry’s benchmarks (allowing you to surpass them) and how to effectively, and ineffectively, go about building a brand in your chosen market.
Carrying out this branding research will not only give you a better idea of how to compete with these companies, but more importantly how to give yourself a unique edge over them.
You should constantly be thinking about how to make your brand stand out from your competition. This will hopefully be the defining factor that convinces a customer to purchase from you over your competition.
There will always be brands in your chosen industry with bigger budgets and more resources than what you have available, yet if you can come up with your own exclusive angle on distributing the same products/services as these Goliaths, then it can be possible to compete effectively.
4.Outline the key qualities & benefits your brand offers.
It is essential to take time to determine what you offer that no one else is offering. Focus on the qualities and benefits that makes your company’s branding unique and giving your target market an obvious reason to choose your brand over another.
Think about how what you provide can directly improve consumer’s lives. Amazon have done this well through how simple their services are for consumers to use. This has helped to build them a massively loyal consumer base and it is all down to their clear qualities and benefits.
5.Create a standout brand logo, other relevant graphics & motto.
Alluring visuals and graphics are essential for all branding activities, they are what makes your branding instantly recognisable and often appealing to your target market. The logo you create and colour scheme you choose will appear on everything that relates to your business.
It will become your identity and if your brand builds up of reputation of quality it may even been seen by consumers as a seal of approval, a quality guarantee. So be willing to invest the time and money by creating something visually appetising. I will reinforce the visual identity for your business.
Hire a professional graphic designer with branding and identity design experience to help you build your brand. This will ensure that your brand’s identity is cemented exactly the way you desire. It is not just visual branding that can help your business become instantly identifiable and attractive to customers.
A memorable motto or slogan can combine product promises with consumer perceptions which, will result in unique benefits compared to your competition. Furthermore, a cleverly worded slogan can be enough on its own to attract customers, take the example of McDonald’s ‘Im Lovin It’. It may be simple, but it sums up to customers what they can expect when they purchase food from McDonalds.
6. Incorporate your brand into every aspect of your business.
The process of building your brand never stops. Your branding should be constantly reflected every time a customer interacts with any aspect of your company. All of your products, packaging, websites, leaflets etc. need the stamp and general theme of your logo.
Constantly use your visuals such as:
- logo use
- photography to create a sense consistency and of reliability for customers.
Social media pages should also be branded visually. The various posts on your various pages should be consistent with and refer back to your brands mission statement.
7. Stay true to the brand you’ve built
There is no point in spending a great amount of time, effort on resources building up an effective branding structure to then decide that drastic changes are needed. So ensure all aspects of the brand your building are planned, drafted and constantly scrutinised.
Royal Mail found out the hardships of trying to completely change a branding structure when they tried to re brand themselves as ‘Consignia’. This was a move that resulted in them reversing back to the original branding after a costly year of re branding failure. When your happy with your brand, the best way to build up its reputation and popularity is to just stick with it.
The more you campaign and advertise the one brand, the more it will be noticed and interacted with. Yet if you decide to apply any major adjustments all this hard work may become wasted.
8. Expand your selling to Amazon and Ebay
Expanding your sales to both Amazon and Ebay will have untold benefits to your brand, and business as a whole. The main perk is the mass potential for online growth that these two eCommerce platforms provide. Amazon has almost 197 million visitors a month and eBay currently has 164 million active users.
These incredible statistics are highly likely to translate into increased sales figures branding result. Most eCommerce sellers report an average 50% increase in sales when they joined Amazon alone.
Furthermore, the range of products and services, the ease of access and comfort of using a digital marketplace are all reasons why so many customers prefer this kind of shopping experience. Therefore using these trading platforms will almost guarantee positive growth and expansion.
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