What is branding?
Many people have been misled to believe that a brand consists
of the company’s logo, visual identification system, and the
responsive retina-ready website or color palette. This is false
as these are only aspects that contribute to your business’
brand.
Your brand is the products or services which you offer to
customers, as well as the stories your products or services
collectively tell. Famous brewing companies, for instance, have
had years of perfecting their brands, whether they are selling
whiskey, brandy or beer. Each product tells a story of its
quality, the journey from its first inception to its latest
form.
Similarly, vehicle companies, like General Motors and Toyota,
have established their brands through the products they offer
to customers. Each product is a work-in-progress and
improvements are made quarterly, half-yearly and annually to
improve on the product. Their vehicle models are known for high
fuel efficiency, good handling and exceptional driver
experience. These features have been as a result of continuous
efforts to implement the customer feedback which they receive
every so often.
The brand helps customers and prospects identify your company’s
products or services. With a strong brand you are guaranteed of
high conversions and high sales revenue.
Key Features of a Brand
For any brand to be effective, it must possess the following
characteristics:
- Concise Marketing Message
- It must confirm credibility
- The brand must connect emotionally with the prospect
- The brand must motivate buyers and achieve concrete user
loyalty.
How your brand impacts on Business
Every entrepreneur knows that a customer makes a buying
decision based on trust and unique value, which they get from
the product or service. It is therefore important to ensure
that your products or services offer unique value to the
customers who offer interact with your products.
Moreover, establishing a genuine relationship that is based on
trust also fosters a strong brand foundation. Customers and
prospects will trust your products and services due to the
brand your company has created.
When a company has a strong brand, customers will always buy
the products or services no matter the price tag. This is
because customers look beyond the price when purchasing a
product, they look at the quality and the value which they get
from the product or service.
Strong brands captivate the customers and prospects minds,
fueling consumerism and loyalty to your products or services.
How do you build a strong brand?
This often poses a challenge for many entrepreneurs who find it
hard to build a strong brand. For you to build a strong brand
you must:
Be Consistent
The quality of your products or services has to be of high
quality and consistent. Customers will identify your products
or services as being reliable and highly satisfying. This
promotes your conversions as well as improve your sales
revenue.
Foster a Relationship based on Trust
Customers don’t like to feel like they are being sold to.
Creating a genuine relationship with the customer or prospect
will increase the likelihood them buying your products or
services. Such customers and prospects will remain loyal to
your brand since they trust the quality and value of what your
business offers.
Understanding Customers’ Needs and Wants
Sometimes entrepreneurs are absorbed in what they want in the
products or services they offer, that they forget what the
customer needs or wants. You must shift focus to the customers’
and prospects’ needs. Identifying the needs and establishing
ways to make your products or services meet those needs will
essentially make your brand a unique value to all customers.