A brand of a company is more than just a logo or your companies name. Your brand is what people say about you when you’re not in the room, the perception that clients or customers have of your business and the voice that defines your organization as a whole to recognize the value of potential here; however, requires different branding strategies encapsulating each element.
The rules around branding are evolving more rapidly than ever, thanks to a changing consumer environment. The rise of Millennials, social media and thought leadership are pushing brands to think differently and engage with their audiences in new ways.
In a world where 64% of customers pursue relationships with brands based on shared values, companies need to identify branding strategies that are designed to make people stop and pay attention. In simple terms, if you want to succeed, then you need to learn how to create a brand that becomes your customer’s best friend. This article is 1 of the 3 splits which will tell you how efficiently you can make your company a brand. So, how do you Create a Brand: To form a brand you definitely need a branding strategy.
Branding strategies are the action plans that organizations use to differentiate their products, services, and identities from their competitors. Essentially, a brand strategy is normally for your long-term brand, which helps the users identify what sort of company you are. This just adjusted the thinking about which kind of feelings and expectations you want your audience to associate with your company.
A brand is a culmination of all the intangible feelings and thoughts that accumulate in a customer’s mind when they think about your business. Brand strategies are your way of altering those perceptions until they suit your company goals.
The Anatomy of a Brand: Components of Branding Strategies
According to experts, a good brand can lead to better customer loyalty, enhanced company image, and a more relatable identity. As more customers continue to differentiate between businesses with emotion and experience, instead of price points and product features, a brand could be the first step to getting ahead of your competition.
The question is, do you know how to create a brand that really speaks to your audience? Before you start investing in social media branding and professional brand consultancy, remember that a successful brand contains the following features:
Company Purpose
It’s easy to assume that your brand purpose is something simple, like a desire to make money or be successful. However, the best companies have a drive that goes beyond those obvious elements and separates them from their competitors. If you can define why your shareholders get up and go to work each morning, then you can begin to establish brand strategies that resonate with the fundamental goals and “vision” of your company. While making money will always be important to any business, consumers feel stronger connections to brands who want to accomplish more than a fat paycheck. For instance,
Tesla wants to be the most innovative technology company in the world – but they’re also fueled by an ambition to transform the world with sustainable, electric power. When Elon Musk shot his convertible into space at the beginning of 2018, he wasn’t doing it to make a profit. Instead, he was demonstrating the durability and innovation of his products.
Consistency
Once you’ve decided what’s driving your brand forward, you need to stick to those underlying ideas religiously and provide your customers with a consistent, familiar identity.
After all, according to studies, brands that present themselves consistently are up to 4x more likely to experience brand visibility. Consistency is easier to achieve than you might think. It simply means assessing everything you do and asking yourself whether it fits with the image you’re presenting to the world. For instance, if you decided that you want to portray a professional and sophisticated identity, then you might not want to post a meme on your Facebook wall.
A productive way to effectively improve your chances of consistency is to create “branding guidelines”. Walmart is a company which has done this exceptionally well – providing directions on each and everything from the brand’s editorial voice, to how to use their logo online. Remember that consistency in your brand image is also essential for your internal communications plan, as it can help to reinforce your core messages and vision with your employees.
Branding is a vast topic and in the upcoming articles, you will know more about this topic. Stay tuned for the next few articles on this topic.
