Your brand is more than just the logo your team decides upon in a strategy meeting.
Your business’ brand is more than just the product line you manufacturer or sell.
It’s more than your services.
Building a brand you can be proud of depends upon much more. Let’s uncover the components that are involved in growing a successful brand that won’t disappoint.
What Is a Brand?
If your brand is not your logo. And it’s not your product or services. What is it?
A brand is made up of a complex set of factors, including your products and services, your logo, your business model, the culture it propagates, the customers’ experience, and more. Every single component of your business from your dealings with vendors and creditors to the experience you set up for customers in your stores, online, and via phone or email comprise your brand.
To put it simply, your brand is your promise to your customers – It tells them what to expect from your products and services, and it differentiates you from the competition. Your brand is derived from who you are, how you want to be perceived, and how your customers see you.
What’s In a Brand?
The time you spend on building a profitable brand can pay off dividends in the long run. Here’s why:
- Consumers like to buy from brands they know and trust.
- Customers are loyal to these brands, and loyal customers can have significant lifetime value.
- Customers can extend social proof, a word-of-mouth recommendation of sorts, promoting your brand to their circle of friends, family and acquaintances.
- A well-distinguished brand stands out among the competition.
Building a Brand
Here are some steps you can use to grow your business into a well-established, profitable brand that everyone in your company can be proud of:
- Know thyself. Know what you do and do it well. If you sell a stellar BBQ sauce with a country flair, stick to that market and dominate.
- Differentiate. If you can make your business more memorable or create a standout customer experience, use that branding to stand out.
- Keep it simple. Once you establish your branding, customer experience, and so forth, be consistent in what you do across marketing channels, product lines, etc. If people know you, for example, as a discount shoe seller, don’t try to sell an upscale line.
- Strive to get better at promotion. No one does it well right out of the gate. Keep trying different methods to promote your brand, and capitalize on what works. For example, offering custom USB flash drives or other promotional products that help keep your brand top-of-mind can go a long way.
- Be authentic. Don’t sell or promote what you can’t or don’t do. Customer will quickly catch on and run the other way.
- Be consistent. If part of your brand message is to care about people, make sure you truly care about people and extend that message via actions through every facet of your business.
With the right strategies to build your brand, you can grow a business that thrives, attract consumers from across your market, and be proud of your efforts.