April 6, 2016
Essential Things to Remember When Building a Brand
In a world where there are endless options for products and services, a brand makes a world of difference in the customer’s decision. In fact, according to some studies, 59% of customers prefer to buy new products from brands familiar to them, and 21% purchased a new product because it was from a brand they trusted.
This stresses the importance of having a strategic brand positioning strategy. When building a brand, a lot of factors come into play.
1) Define Your brand.
Just like a person, your company needs an identity. This identity will be a reflection of your company’s personality and beliefs. As part of the process, the below items must be carefully considered as these will set the tone for the other elements of your brand.
a) Positioning. Describe your product or service. Define which space it occupies relative to your competitors. Is it budget-friendly or premium quality, functional or lavish, entry-level or high-end?
b) Value Proposition. This explains why customers should patronise your business. It should answer the questions: What is unique about your offering? How are you going to make a difference in the lives of your customers? What kind of experience are your customers going to get?
c) Tone of Voice. The tone of voice should reflect the values of the company as well as the people behind it. It should be in line with your brand’s persona. The tone of voice must be consistent throughout the company, from the marketing to all forms of communication.
d) Persona. Human characteristics are assigned to brands to make them relatable to people. Examples include carefree, athletic, influential, elegant, thoughtful and family-oriented.
2) Develop Your Tagline.
Your tagline is essentially a description of your brand value in a nutshell. A good tagline is concise, simple, clear, memorable, communicates a story and most importantly, communicates a key benefit.
3) Create Your Logo.
Your logo will be the main and most visible representation of your company as it will appear in all marketing collaterals and other forms of communication. Because of this, it is vital that its design is crafted with a lot of thought. Its components must be in line with your brand identity. At the same time, its elements must consider logo design principles and best practice.
4) Decide on Your Design Elements.
Various types of marketing collateral will be required for different marketing arenas. In presenting your product or service, the look and feel of your collateral should be consistent throughout all channels and reflect your brand. In order to do this, certain design elements such as colour schemes, fonts, and formatting must be outlined in the brand guidelines.
5) Ingrain Your brand in your Company Culture.
Branding does not stop at design and communication activities. Since employees engage with customers, their actions, appearance, and way of communicating must likewise accurately represent your brand.
When building a brand, you need to develop a brand strategy that encompasses defining what your brand is, developing a tagline, creating a logo, deciding on design elements and tone of voice to use in all forms of communication and ingraining the brand values in your culture.
These brand elements must be consistent at all times at every customer touch point. Branding done correctly has the capability to influence purchasing decisions of customers by differentiating your company, creating loyalty among customers, and establishing your company as a trustworthy and dependable source.