Branding is an essential part of a successful Marketing Strategy for any business, even small and medium enterprises, and is often where I recommend businesses to start when evaluating their marketing efforts.
An upfront investment into a carefully thought out Brand Strategy will result in your brand having a Brand Value that can actually save you money on costly campaigns and promotions in the future in an effort to attract new customers and generate repeat business.
So what is Branding?
Branding is about creating the desired perception about your business to your customers. It’s about creating an identity for your business that customers can quickly and easily assimilate and evaluate in the short window of time when they think of your business, walk past your shop front or visit your website.
Branding is about much more than just a logo and marketing materials. A successful brand should translate seamlessly across your entire organisation. Your brand should be evident in the goods or services you provide, in the customer service you offer, in the staff that you employ and in your working environment.
In other words, branding should be at the heart of everything your business stands for.
So how do we go about creating that desired perception?
Embedding the desired perception about your business in the minds of your customers is no easy feat, in fact there are a number of things to consider when developing an effective brand for your business.
Firstly, you’ll need to revisit what your business is all about and ask yourself what your business objectives are, what it is you are hoping to achieve by being in business.
Secondly, you’ll need to take a look at your competitive environment and consider what makes your business unique. If you are operating in an already crowded market place, the need to carve a distinct identity for your business is paramount.
Thirdly, you’ll need to get to know your customers in order to tailor your brand and its voice in a way that will resonate with consumers and create and maintain a connection with them.
Once you feel confident you know your target market well enough, you’ll need to consider what you want them to think when they use your products or services, or when they hear your company name.
So what are we hoping to achieve through branding? Why is it so important?
Once your brand is developed, it will serve as an important asset for your business as through creating a brand identity, you will have in turn created a brand value or brand equity. This is the quantifiable amount people are willing to pay for your brand versus an unbranded competitor, regardless of price promotions or campaigns.
Over time, the goal is to convert every potential customer into a brand advocate, who believes whole heartedly in your brand and requires little or no incentive to repeat purchase.
There’s a lot to think about when it comes to getting the branding right for your business and that’s where hiring an expert to develop your brand can prove to be very useful.
If you would like to discuss your branding requirements, whether just for advice or for full brand development, please get in touch.