When people hear your name, there are many things that can cross their minds. This is because your name defines you. If you regularly help a person, the mention of your name will bring positive memories to their mind. Similarly, your business name communicates many things about your company.
This is where branding comes in because it helps to define your business image. Branding is an intrinsic process of creating memories and forming a relationship around your company’s name in the target audiences’ mind. It is the process of making your customers own your brand and feel like they are part of it.
Why Brand Anyway?
Whether you are a small business or a conglomerate, branding is an invaluable determinant of your company’s success. A survey of 10 Fortune 500 companies published on Forbes shows that 98% of managers believe branding will make or break their businesses. A report by U.S Small Business Administration (SBA) shows that 89% of companies that invest in branding campaigns record over 69% revenue growth within 5 years.
If you are thinking of starting a business or you regret the stagnation your company is going through, it is high time you learnt a few tricks on branding. It is easy to get die-hard followers who will sit up any time your brand name is mentioned. Think of the passion showed by football fans and you will appreciate why branding is essential for you.
Ingenious branding Ideas
So, how do you ensure you have a league of supporters just like an NFL team boasts of its millions of fans? Here are some easy strategies:
1. Brand what you are passionate about: Whatever your business idea make sure you love it. It is possible to make money in many areas but ultimately you can only enjoy creating a brand if you are passionate about it.
2. Define your brand: Ensure that you understand what it is you are doing in the market. You can only create a solid business image if you have identified your products, the market, challenges expected and competition.
3. Consider every part of your business: Every business has different components. For instance, a clothes manufacturer will have an industrial facility, offices and distribution store. If your customers learn that you mistreat workers at the factory, you can bet they will stop shopping from you.
4. Clothe your brand appropriately: How do you dress to the wedding? Of course in gay colors. Well, if your business deals in swimming products you need to reflect this in your brand. For instance, a blue color theme totally reflects your image.
5. Brand your customers: Justin Bieber, the pop musician, has a league of fans called the bliebers. You can similarly brand your customers using an appropriate term to make them part of your business. How celebrities market themselves.
6. Leverage philanthropy: You might not be a big company but even small contributions to a local charity or other seemingly insignificant CSR activities go a long way in endearing you to society.
7. Go for long-term relationships: It is important to differentiate sales marketing and branding. Your aim is to build long-term meaningful relationships as opposed to making sales.
There are many other factors to consider when building your brand. Nevertheless you must avoid mimicking larger brands. Every business is unique and when seeking to promote your company, ensure you first know who you are as a business, then remain as authentic as possible.