Updated: Dec 31, 2019
Strong branding is something that really needs to be focused on when starting a business. Your brand should clearly portray the personality of your business.
What is branding?
Branding, by definition, is a marketing practice in which a company creates a name, symbol or design that is easily identifiable as belonging to the company. This is the very first impact/impression a customer gets when looking at your products and or company. It is essential for every business to create a distinguishable and cohesive look for your brand so your customers can easily recognize your products. Your branding is also the very first step in building a customer relationship. Your brand should authentically portray your business and give your customers an idea of what you do and how you operate, it is then your job to live up to your brand image.
Why is branding important?
Branding is meant to drive in new business and awareness to your business from your target markets. From your logo to your packaging even down to your social media, it helps create an image your customers can follow and seek out.
One of the main reasons that honest, authentic and consistent branding is so important is over time it will raise your business equity or value by creating an image people can trust.
5 things you need to know about branding your business
#1) Identify your target market demographics It is crucial for you to do a proper market analysis for your product or service and figure out where in the market you want to tap in to. Identifying your target market demographic is crucial so you can see why marketing and branding style has the most appeal to them. #2) Create a Brand Strategy Everything works better once you work through the logistics and make a plan of action, the same goes for branding your business. Create a branding strategy that answers how you mainly market your business, what image you want to portray in your brand voice and online graphics, whom you want to be the face of the company, how your brand aligns with your mission statement, if your brand image is popular in your targeted market demographics, and brand analysis of competitors. Include short term and long term goals in your brand strategy and see if you are meeting them if you are falling short of projected goals you can tweak your brand identity in the early stages of your business.
#3) Create a brand identity This is where you create your logo, slogan, mission statement, vision statement, color pallet, the face of the company, branding voice, branding energy, branding style and add them all to create your brand's identity
#4) Know and utilize your competitive advantage
What sets your business and brand identity apart from your main competition? Cost, traditional values, cutting edge advantage, charitable work, fair trade, sustainable, whatever it is that makes your customers keep coming back for more needs to be highlighted in your social media presence
#5) Stay on top of trends
In order to stay relevant in your market, you have to stay on top of market trends and what is trending in your target demographic. Don't be afraid to be bold to maintain relevance, as long as your marketing strategy matches your business values it is okay to change your brand voice.