Today a brand is one of the most valuable assets of a company. About 60% of consumers prefer to buy from well know and recognized brands. The reasons are not entirely rational but also psychological and emotional. Whatever they may be it is clear that building your brand is the way to stand out and attract customers. It is the only way ta handle the competition from big companies with an unlimited marketing budget. Therefore knowing the steps to creating a strong brand today is a necessity. However, building a brand is much more than a logo and an advertisement. It requires you to know much more about the topic.
What is a brand in the first place?
A brand is the reputation of a company. It is what people think of and how they perceive the company. It is their overall perception. Having a brand makes your company distinct from the others. It makes your product stand out, attract attention and draw customers in. The brand is just what makes the product desirable aside from its functionality, practicality, or price. It is the feeling, respect, and reputation that a product transfers to its owner. In this way, the brand is what will sell your product in the ocean of products that are the same.
So, building a brand is important but it is not one of activity. It is a complex process that does not happen overnight. It takes time and effort to create. In today’s world building a brand is easier with all of the digital tools and marketing. You can also hire professionals to deal with its creation. But in the end, you must know how to approach this job. You should know more about the steps to creating a strong brand and the strategies it entails. So, among many other guides and different approaches here are a few key steps in building a brand.
- Define your purpose
- Know the audience
- Know your Competition
- Build the strategy
- Develop a brand story
- Create your brand identity
- Live the brand
Define your purpose
A brand is almost entirely about emotions and feelings. People buy products that not only fulfill their purpose but also feel right and make customers feel right using them. So, when building a brand you have to ask questions about your purpose and the needs of your potential audience. Your brand should be defined as in line with the motivations and perceptions of your customers. So, your brand must have a defined value, philosophy, and principle. These have to appeal to the consumers or the target audience. This brand should be more about why you do what you do and less about what you do. It is a true recipe for having your brand succeed and attract customers.
Know the audience
As already stated the brand is in part a perception of your products and company by the consumers. Building a brand is about building and molding this perception. This in turn means that you must know your audience and define the primary and secondary target groups. You actually have to research your audience and define the one that shares your motives and values when it comes to the product and needs satisfaction. A proper definition of the audience demands it thorough analysis of these audiences and defining of their personalities and personas. All of your marketing activities and brand messages will be defined by this target group definition.
Know your Competition
As you are building a brand to differentiate from your competition it is important to know just who they are. Furthermore, it is important to know how your audience perceives the competition. Therefore it is crucial to analyze your competition thoroughly to define their strengths and weaknesses in the market and in the mind of the user/customer/consumer. Only then you can build a brand that stands out.
Build the strategy
Once you have the basics set it is time to build your brand strategy. It is important to create the strategy to strategy as a set of written instructions for creating and maintaining your brand. Everyone involved in this process should have a clear structure of the brand and a clear platform on which to build it.
Develop a brand story
The easiest and most efficient way of building your brand and making it familiar is through storytelling. A good story or a couple of them can relay your vision and mission and trigger consumers’ emotions towards the brand you are building. Storytelling is therefore very important and an almost indispensable way of expanding your brand’s familiarity. So, try to make a compelling and interesting story that will easily spark interest and build trust. Building a brand story is key and is the subject of many content-based marketing activities online.
Create your brand identity
Once you have a strategy and brand story you should build your brand identity. It is the most recognizable part of your brand and it incorporated a logo, voice, and brand name. A brand identity is created through an iterative process of trial and error and perpetual enhancement. It is not created at a moment’s notice but is built through change. However, when creating your identity try to not get hung up on details. This process is completed by seasoned designers and professionals that are well aware of your brand strategy. They know the mission and vision of the brand and try to create an identity that supports it. This is a process of choosing the right logo, text, color, and even sound combination that will make your brand mentioned often, and also spark an emotional response.
Live the brand
Creating a brand strategy and identity is not enough. You should perpetually work on building up your brand in line with the mission and vision you define. Your new employees have to be trained to add to the brand identity. Your customers and partner also have to take part in contributing to the brand image. A company should live the brand in order to make it distinct and to make it work. Only in this way you can build the value and the equity in your brand and stand apart and above your competition.
Following the steps to creating a strong brand is the key to your company’s success. Branding your company and products is a sure way of standing out on the market making your products and services desirable. Working hard on maintaining your brand’s reputation and value is a continuation of this effort.