Is branding a luxury for well-established businesses, or is branding something that you should be doing as an entrepreneur? The answer may surprise you. Branding is not just about logos and slogans; it’s also about your business purpose, focus, and image. When branding your business, these three things combine to create a positive image in the minds of consumers. So why should you make this effort? I’m going to review four primary benefits along with four easy steps to begin branding yourself today!
Presenting your brand consistently across all platforms can boost your revenue by up to 23%. Some of the benefits of branding are:
- You are remembered. It’s hard to remember a company with a generic name. You may not be able to distinguish their purpose and business focus. And why would you call a company if you couldn’t tell what they did? Branding your business ensures that consumers will know what you’re.
- You gain customer loyalty. The fact is, people, build close bonds with brand identities. Consumers want quality products they can trust. So, your business should have an identity that your customers can always cling to. If your company delivers excellent products and services and has a great brand identity, people will remember you. In addition, they will often refer you to friends and family.
- You become well known. You want the people who have not done business with you to know who you are and what you do. And when the time comes that they need your product or service, your company will be the first to come to mind.
- Consumers pay for the image. We are a very brand-aware society. People commonly associate brand names with quality and may only buy certain brands for that reason. If people only want one brand of a particular product, they are willing to pay a higher price. Having a great brand will make your company have a superior image and cause consumers to forget about the competition.
Ready to take the four steps to start your successful brand image and stand out from your competition?
Read on to learn how.
Step 1: Examine the Competition
One of the keys to creating a successful brand image is to separate yourself from your competition. First, you will need to know how consumers see your competition. Second, it would help if you recognized how your competitors differentiate themselves from others. Also, you should know your competitor’s strengths and weaknesses. Your business can benefit from knowing this information by learning from its weaknesses. Also, your business can benefit by learning how to differentiate your company from the competition.
Step 2: Identify Your Strengths
Now that you know your competition’s weaknesses, you can begin to focus on your company’s strengths. Perform a target market analysis, learn from it, and use it to your advantage. This step is a valuable tool to confirm that your company’s strengths are, in fact, essential to your target market. Once you’ve realized your strengths and what strengths are important to customers, you can think about ways to successfully market these to the public and involve them in your branding campaign.
Step 3: Know Your Customer
Learn more about the customer. Know their purchasing behavior. How often do they buy? Do they buy only during sales or promotions? Do they buy an array of products or services or just a select few? These are questions you should ask to better market to your customers. Also, know your customer’s lifestyles, needs, mindsets, pain points, most pressing problems, and attitudes. Knowing and working with these personality traits are also vital to marketing success.
Step 4: Be Your Brand
Make sure your company truly represents what your brand identifies you within the market. For example, if one of the traits your brand identifies your company with is politeness, be polite. In short, this means to live your brand!
In conclusion, your business should be memorable and stick in the minds of your ideal clients in your niche. So, when you create a brand image, keep in mind what makes your company unique and focus on highlighting those aspects for an effective marketing strategy.
You can learn more fresh ideas about building a successful brand image by following my podcast. Feel free to find out all about me here, including links to follow me on all of my social media sites;
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Podcast: Career Chic Confidential
