Successful branding is a must for every business as every business owner intends to begin business on a sound footing. Business plans are written, the company’s direction is forged, corporate profiles that contain the business’ statements are crafted, and every wheel needed for the business to turn on its expected axes are created.
At this point, the entrepreneur is excited and pumped up to go succeed in a very diverse world. You have all ideas working according to plan until you hit a brick-wall; you’re losing lots of business opportunities due to a perceived lack of competitiveness.
You know your business is competitive; you understand the workings of your industry and you see yourself as a big-game player. Why then are you stuck?
The solution is successful branding.
Successful branding is creating the impression you want your niche audience to see and effectively communicating this impression to them.
Many businesses have lost their edge in corporate effectiveness due to a perceived lack of ambition and skill. As stated, they could be the best at what they do. If they do not, however, project this to their target market, they may not inspire confidence in their ability to deliver.
Projecting can be best achieved if the business has a unique identity and value proposition.
Here are five keys to building a successful branding stance:
Brand positioning: This is where you develop a unique mission and vision statement, compress them into as few words as possible, and ingrain them into your staff (if you have any), and then release them to your target audience.
Let them know what value they will get from doing business with you.
Unique Identity: Every business has something that makes it stand out; find yours. If you, for example, are the only brand to offer “food on the go” in a market where everyone else do eat-ins, you’re going to be popular among those that don’t have time to leave their workplaces to eat. In essence, craft a unique identity that your market can relate to.
Know your target market: It’s not enough to assume that you know your target audience; research them as often as possible. You may have your eyes set on women in their 40s for anti-aging and beauty treatments only to find that women in their 50s are your biggest customers. This means that in the time it took you to find that out, you had lost a lot of opportunities.
Research benchmarks/competitors: The easiest way to achieve real branding is by researching your competitors; what do they do right, their branding fails, reviews about them, consistency in brand propositions etc. This will save you from falling into the same traps they fell into.
Consistent Uniformity: Make sure your brand is uniform across the board. It should have a universal appeal and there shouldn’t be any changes in your product/service delivery so you’re not accused of being partial by some of your customer base.
Building a successful brand means that you must be ready to uphold your standard without any fear or favors.
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