Business branding plays a pivotal role in determining the success of each business. Oftentimes, businesses struggle to deliver a clear and a strong brand message that will capture the customers’ attention. With every area of business being so competitive, it is vitally important to portray a strong brand message in order to ensure that you stand out from the crowd.
In this article, we will lay out 3 key steps outlined in this article that will help you to develop a unique and effective brand that can take your business to new heights.
Conduct Market Research
In order to stand out from your competition, you first need to understand what your competitors are doing and offering to customers. There are several things to look at, such as how the most successful brands in your field are promoting their brand, how they are providing or delivering the product and service to their customers, and what other new competitors are doing to set themselves apart. This comprehensive market research will also help you identify your brand’s strengths and Unique Selling Points (USP), as well as where you will fit into the market. It is also important to understand your potential customers and figure out the target customers your business will most likely appeal to. By understanding these 3 factors: market, competitors and customers, you will be able to distinguish and highlight your business’ selling points in the business branding strategy.
Define Your Brand
Now that you have conducted market research and understand your competitors and your business’s USP, how will you incorporate your company’s USP into a successful brand? Defining your brand is a key step towards developing a successful brand strategy. Your brand must be unique, otherwise it will get lost in the thousands and thousands of similar businesses out there. Jeff Bezos, the founder of Amazon, once said: ““Your brand is what other people say about you when you’re not in the room”, so try to incorporate your USP into answering these questions:
- What qualities do you want your customers to associate with your company?
- What keywords do you want your customers to remember?
- What image do you want to pop up in your customer’s mind when they hear about your brand?
Once you’ve answered these questions in your own mind, you can start developing your company’s visual identity: a great logo will always draw attention; a memorable tagline will capture the heart of your audience; a consistent marketing color scheme and packaging will help people remember your brand more easily. Think of Apple and their iconic logo: an apple with a bite taken out. It’s simple, yet strikingly different, and that difference makes it effective and memorable.
Develop a Marketing Strategy
Having identified your brand and its USP, now all you need is a good marketing strategy to make it all work. You have probably researched the marketing strategies of the most successful competitors in your field as mentioned in Step 1, but every company is different, so think about whether their strategy will work for you, or what elements of that strategy can you pick up and apply to your own? At the same time, consider the budget you plan to spend on marketing. If they use celebrities for their product photoshoot, and you have a smaller budget, then maybe you can use KOL or social media influencers to raise your brand awareness, or focus on creating a viral video. Social media is a powerful tool in this day and age, and this website can show you how successful social media campaigns may make all the difference.
It will also benefit your company to conduct marketing activities on various channels rather than just social media. At least, you should consider the following channels:
- A professional, user-friendly website to boost brand building and business growth
- SEO and content to connect target audiences to your business
- Paid advertising to gain quick and short-term results
- Email marketing to build relationships with your subscribers and increase conversion rate.
Using multiple marketing venues will allow you to reach out to more potential clients, and at the same time, help build your brand awareness to a larger customer base. Again, building brand awareness requires you to initiate and maintain customer engagement. Paid advertising can only do so much for short-term results, but for long-term growth, you need a comprehensive, customer-focused and multi-avenue marketing strategy.
Your brand is the face of your company, and in order to succeed, you need to clearly define your brand and hard-sell it to the world. Following this guide will not only help you identify your brand, but will also help create a well-developed marketing strategy that will effectively raise customer awareness and brand value. These will determine the long-term success of your company so start now to make sure you get ahead.