5 Tips To Build Your Own Business Brand
Branding is how you like your business to be known. This is also what establishes people’s perception and impression of who you are. Although they are not necessarily what you sell, branding is a huge selling point in many cases. This is because customer experience matters. And in making sure that you get your audience’s attention, good branding for your business is needed.
A unique brand can have a huge impact on your bottom line by giving you a competitive advantage over your rivals and helping you acquire and retain customers at a much lower cost. In eCommerce, where new companies (and therefore, new competitors) are springing up every day, an established brand can be an invaluable asset in bringing customers and generating profit.
Regardless of whether you’re investing time and effort into crafting a compelling brand or paying no attention to it whatsoever, your business still has a brand. However, it may be completely different from how you intended to be seen.
Good branding is strategic, while marketing is tactical. When you establish the higher objectives and clearly define your brand promise, you can start crafting a marketing plan that’s geared towards achieving those goals.
Here are some helpful tips to make a good brand for your business:
Identity Where You Stand
Why does your business exist? Your mission answers this question. To write a powerful mission statement, describe the purpose of your business, who your customers are, the products or services you render, and how you do it. Summarize this in a few words to make it memorable.
Next up are your core values. They are principles that drive your goals, mission, and vision. These beliefs shape your company culture, which then influences stakeholders’ perceptions. Therefore, using generic words that do not define what your business stands for will only lead to a conflicting brand image. Instead, be specific, use your own words, and ensure the entire organization embodies these principles.
Know Who To Sell To
One of the more difficult things with business branding development is to commit to a target audience. It’s important to visualize what an ideal customer within your audience looks like. We call this a buyer persona. It’s a fictional customer but based on real data about your existing consumers coupled with market research.
Group customers based on patterns or common traits you uncover and represent them with a persona. Include demographic, psychographic, behavioral, and geographic details. Creating a complete picture ensures that you can develop business branding ideas to meet their exact needs.
Improve Your Customer Service
Your brand isn’t just about your latest ad or marketing campaign. Branding is embedded in every element of your business. Everything your customers see, hear and experience affects your company’s image: How all employees answer phones and greet customers, for example.
Even how clean your premises are and how easy it is to park at a store. If the actual customer experience in dealing with your company is at odds with the image you project through your branding efforts, you’re probably nullifying all those efforts. Your employees should understand and believe in the brand and then be able to back up the brand’s promise with their actions.
Applying your branding across your business gives it a cohesive brand story. A brand story represents who your business is and what it stands for. It sets the stage for every interaction customers to have with your brand, in-store and online.
In Shopify’s research on what wins buyer and customer trust, they found that buyers shopping on an online store for the first time often look for a business’s mission and purpose to see if they share any values with the business (e.g., sustainability). They will turn to its About Us page to learn more about who they’re buying from. And, for more socially conscious customers, how the business is run. If your business has a brand story, share it, because it can help the shopper feel reassured yours is a legitimate business.
Conceptualize A Good Logo
No matter what size business you have, it deserves a professional brand identity design. A freelance graphic designer or a branding agency for small businesses can create a brand logo. The largest creative agencies working with the top brands will charge hundreds of thousands of dollars (sometimes millions!), for comprehensive brand development.
For a smaller business or startup, don’t fret—there are options for branding companies for small businesses. Expect to pay a thousand dollars (or more) for a great logo, style guide, and collateral to go with it.
Sometimes, you can find cheaper graphic designers online, but keep your expectations in check. You will get what you pay for. It’s worth investing in a professional logo at the beginning (or for a redesign).
A brand strategy is a formalized document that identifies what your company is and believes in. It defines your target market, shows how you’re differentiated from your competition, and defines your company’s personality.
By creating a clear and concise brand strategy, you help your employees understand, support, and participate in the efforts to achieve your branding – and business – goals. This can lead to greater consistency and a stronger connection with your customers. Once you have defined your brand strategy, execute it effectively and thoroughly.