A business may have an incredible idea which would resonate with a number of potential customers. Having that idea and transitioning it to be represented by a brand is a different ballgame. The creation of a recognisable brand which is distinct in consumer minds is key for businesses. A brand requires a 360 vision and encompasses much more than a fancy name or a well-designed logo.
Before a business aims to establish the identity of the customers it wants to target, it needs to define its own. The brand identity is composed of a multitude of different elements including designs, colours, logos, company values and communication strategies. Another critical component of the brand is reputation. This is heavily influenced by what customers have to say about it. In this blog article, we shall be discussing some of the important elements of brand building.
To be successful in this endeavour, a business must understand why the brand exists. The reason for this is not so that the business bombards its audience with respect to its background, but simply so that the roots are firmly set and everyone working within the organisation knows what the company stands for.
Identify your audience
The reason why you need to define well what the business stands for is so that you can establish the target audience. The brand of the product or service needs to be built to cater for the needs of your desired consumers. There are several aspects to consider including demographics, age, education, income, lifestyle, interests and location amongst others. As a business owner, it is important to keep in mind that you cannot position yourself to attract all possible customers. Doing so is a recipe for disaster.
A brand’s success is heavily influenced by its competitors. Prior to the launch of a new brand, the competitor landscape must be made clear. The analysis must delve into the detail of the other brands, products, prices and marketing activities amongst others. The brand must also have a unique selling proposition, which will distinguish it from other competitors, especially in a market which is already well-served. Not only that, but the unique selling proposition must feature loud, clear and consistently across marketing channels. Not sure where to start when it comes to building your brand?
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