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Is Branding Your Business Important?

Creating a Brand Identity

Branding plays a significant role in how people perceive your business. If you don’t establish a brand identity, it can be hard to define your goals and plans. Have you established a brand? If so, is it clear to your audience? Without a brand, it is hard to create ad messages that add value to your product line or incite people to act.

To do business today, you need to create a winning brand, memorable message, and logo – something that will help people quickly connect your company’s image with its products and services. Without this type of visual, you will have a difficult time marketing and selling what your business offers.

Customer Recognition and Loyalty

A branding strategy should be included in every business plan – an outline that shows how you will apply your brand over time. To develop this outline, it is important to describe your business’s purpose and how this purpose defines your target buyer. In essence, you want to create a blueprint of what is important to your business in terms of customer recognition and loyalty.

Creating a Strategy

Don’t be nervous. Creating a brand is less intimidating than it seems. Just follow the three key steps below, and you will find that creating a brand is not all that complex.

1. Stand Out from Your Competitors

When coming up with a brand, you need to answer the following question – Why should people buy from me instead of my competitors? For example, is your service faster and more friendly? Do you go the extra mile to make sure your customer is happy? You want to show your target audience how you are different than your competition.

What is Your Word?

What one power word do you want to personify your business? Maybe you are opening a new spa. In this case, you might focus on the adjective “pamper.” Let your target market know what they can expect by using that one key word.

2. Know Your Customer

You really can't establish a brand unless you analyze and interpret what your customer does and does not like. Knowing how your customer thinks will make it easier to establish your brand and give your customer what he or she expects.

To do this, you need to gather demographic data about the business or industry you are entering. Consider the types of customers who will frequent your business. Who are they, and what do they want to accomplish by visiting your store, restaurant, or professional practice?

3. Create a Business Persona

To create a brand, you need to develop a business persona – a business personality that makes your company unique and likable. To do this, you need to show your customer what you will do to make their business experience valuable and profitable. While you can quickly summarize your company’s vision and goals with a mission statement, that really does not help you define its personality. You need to go one step further and decide how you fulfil your brand’s promise.

For instance, if you say that you will provide fast service, what does “fast” mean? How will you ensure timeliness in delivery? Your company’s personality also extends to your marketing and ad strategies. Developing a business persona enables you to better serve your customers with consistant deliverables.

Hiring the Right People

To reinforce your brand image, you need to hire people who will support the brand strategy you develop. For instance, if you want to concentrate on customer service, you need to hire motivated and friendly people. Review your brand strategy and brand with the people you employ, and remind them of its importance.

The idea behind branding is to set certain expectations and keep communications transparent. For example, how do you want your employees to interact with customers? Clearly communicate what is expected. Reward the employees who go above and beyond your expectations.

When you include a branding strategy in a business plan, it does not have to be that involved or long. In fact, some strategies are no more than a paragraph. The key to developing a brand image is to create a plan that makes your business memorable and unique.

Author: Mac Cassity | Social Media

Date: March 26, 2020

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