With the rise of the internet and countless number of companies vying for consumer attention, branding is more important now than ever. As marketing efforts explode across social media platforms, standing out from the multitude of voices is both challenging, but exhilarating when accomplished. So what are the keys to successful branding and what does your business need to know before undertaking a re-brand?
Establishing a solid brand identity is what will set your business apart from the others and place your company on solid footing for the future. Research shows sixty per cent of consumers will pay more for their beloved brand even in a down-shifting economy.
When working towards establishing your brand, it’s imperative to understand that although your product or service is certainly a part of the journey, it’s ultimately how your audience defines your company that matters. If your brand can cross over from the tangible act of purchasing your goods or service to the intangible emotion of bonding with your brand, then you have created loyalty that will pay great dividends.
While there are some businesses that develop a strong brand identity through high visibility on all media platforms, there are ways to build a brand even without an excessive amount of advertising costs.
Here are five keys to successful branding:
1. Unique identity
Every company has something they can do or offer that is special or unique to them. Having an identity that sets you apart from the crowd is essential to establishing a good brand. If you haven’t identified what makes your company unique, then that is a necessary place to start.
2. Vision
Directly related to developing a unique identity is that of personal vision. Delve deeper than the product or service to a vision for your business. People will connect on a more emotional level when there is a vision that is more than just profits propelling the business forward. Henry Ford’s vision to create a “motorcar for the great multitude…constructed of the best materials” set it apart from the others. He had a passion to get every middle-class person driving an automobile and by 1914 he claimed 48 per cent of the automobile industry!
As you discover your company’s vision and uniqueness, this will permeate on every level — from social media to telephone calls to the logo that represents your brand.
3. Targeted marketing
When businesses attempt to reach as many people as possible with their marketing campaign, it is usually not the best plan for long-term brand building, according to a recent Forbes article. You will have greater success in establishing the strength of your unique identity by targeting those particular groups of people who want what you offer. Find your niche and target it.
4. Familiarity of your clients
A good branding strategy includes analysis of your clients. Once you have targeted your audience, study them. Who are they? What are their likes and dislikes? What are the demographics of this group? As you gain more information on this group, it will aid you in solidification of branding. You want your brand to resonate with those clients you already have or those you are trying to court.
5. Uniformity
Uniformity is another key to successful branding. It is necessary your brand have universal appeal. What is seen, heard, and felt in one location must be the same in another location across the globe. Consistency must also be uniform across all platforms. For example, you don’t want one type of tone reflected on your webpage and a completely different tone when clients visit the office.
Creating a brand that endures is something we, at Red Lounge Agency, specialise in. Blending imagination with strategy, we inspire branding that connects with and compels the audience. If you would like to discuss these topics further, please contact us today!
Fancy a coffee to discuss your creative brief?