As a business, your brand is much more than just a name or a logo, it representsÊthe whole experience are going to have with your company, its products or services. It represents your personality and the promise you are making to your customers, it is what your customers interact with and its what makes you stand out from the crowd, it defines you from the competition.
A successful branding strategy can be what makes the difference between success and failure in an all too competitive global market. Your unique branding strategy will be what positions your company as special in the minds of your customers and prospects. If your company is relatively new in an established marketplace, the chances are, your competitors have created brands that are well known and recognized by their customers, your brand has to stand apart from them and convince your prospects that they should buy from your company instead.
In order for your prospects to want to engage with you, a coherent branding structure is crucial. You need to have a strategy that will create confidence, long lasting relationships with other businesses and reorders from them for a long time to come. It will make your company more valuable in the long term, at best it will make it easy for your customers and prospects know immediately what your company is all about, what you can give to them. They will know that your products are better than the competition and that you deliver what you say you will.
The alternative is that you prospects and customers may have an inconsistent view of your company and its products because you have not thought a great deal about branding maybe because you failed to see it as being all that important or even relevant, but you will always suspect there is something missing in your communications with the world in general.
At the worst, your prospect will fail to even turn into customers, what customers you do have do not return to re order from you they donÕt have a particularly strong impression of you as a company and you regularly lose customers to your competitors who do have a strong brand identity.
It is clear that branding and a strong branding strategy is a key part of building a successful business. You need to implement this early on in your company formation and make sure that it is as effective as possible. It is a good plan to either employ a public relations company or do this yourself; start a campaign of surveying your customers, your staff and your business contacts to ascertain the overall impression these people have of your company and its products/services.
Are the impressions that they are receiving aligned with your strategy? Look for ways you can make improvements. Look for ways you can develop a more powerful branding identity, use emotional triggers such as the benefits your product offers, the pain or problems your product offers a solution to, ways to make them feel good about themselves and look for ways your brand can be associated with that feeling. Try to describe your brand as if it were a real person and use graphical elements that help to personify your brand and make it as memorable as possible, something they will want to include in their lives and have a relationship with.
Here is a link to a YouTube video about the Virgin Branding strategy - https://www.youtube.com/watch?v=iZZt7bgwffo
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