You’ve come up with a great business idea that solves a big problem, you’ve chosen a business model, and crafted a great business plan. Time to celebrate, right? Break out the champagne and start dreaming about the profits, fame, and exciting growth opportunities you know are coming your way.
But don’t get carried away just yet because you’ve still got a long road ahead of you if your business must step out of the pages and become a successful one that customers would love. And although there are several paths to building a successful business, the best is branding.
Only a few businesses recognize that developing a brand identity is a highly rewarding process that demands patience, time, and lots of effort.
Most entrepreneurs believe that developing a brand only involves getting a cool logo and a website. And even though these are great tools in branding, there are other critical tools that must be considered.
We’ve seen countless business owners spend weeks—even months—of trial and error in an attempt to build a memorable brand so we created a simple guide that we know would save you time and ease your path to building a solid brand. Get ready to transform your business into one that’ll win the hearts of your audience.
But first, we’d be looking at:
- What is branding
- Why your business needs an exciting brand
- 5 proven steps to creating an exciting brand
- Brand with passion and consistency
Let’s get started.
What is Branding in 2021?
Branding is the practice of discovering, improving, and implementing unique elements to your business so that customers can connect your brand, not just with your products or services, but with an assurance of how you’ll do business.
Branding, in 2021, has gone beyond giving your business a strong footing in the market; to giving your business a personality with values and goals that customers can relate to. Branding humanizes your business, gives it an identity, and makes your business interesting, loveable, and approachable.
Your brand sets you apart from the competition, and that’s why so many businesses spend a lot of time and resources coming up with a memorable brand name, creating a catchy slogan, and deciding on the perfect color scheme.
In today’s post-Covid world, customers aren’t just looking at logos, they’re looking for brands with purpose, brands with values, and brands that stand up for causes they’re concerned about. As a result, delivering a compelling message that personalizes your brand and communicates emotionally with your target audience is something you must master before launching a brand.
Why Your Business Needs an Exciting Brand
Powerful brands rule the world. Do you know that branding is the most important factor customers consider when they have to choose between two or three businesses? Your brand is critical to your growth and affects every aspect of your business, so make sure to create a brand that can:
- Easily attract customers
- Make your business more memorable
- Build customer loyalty
- Separate your business from competitors
- Unite your customers
- Make marketing a lot easier
Understand that customers are more than willing to pay 16% more for a better customer experience, so make sure besides having a great product; your business possesses an effective brand because it’s a necessary ingredient to attracting tons of customers.
If you satisfy these customers, they’d happily refer your business to their friends and families. And just like that, you’ve set yourself on the right track to building a successful brand.
Not to mention that one thing branding contributes to a business that’s often overlooked is the simple fact that a strong brand would bring pride to your employees. After all, who wouldn’t want to be a Googler at the Googleplex.
Now that you know what a great brand would contribute to your business, here are the secrets to building a unique brand in 2021.
5 Proven Steps to Creating an Exciting Brand
The best way to create a brand that’d be an asset to your business is to develop and implement brilliant innovations that’d show your customers what you have to offer in an exciting way that also expresses just what they want.
Here are five proven steps that can help you do this:
- Conduct a Deep Market Research
Although it’s difficult, deep research remains the key to creating an exciting brand, so dedicate your time to gathering as much information as possible about your target audience demographic, competitors, and the market. This will assist you in rapidly developing a brand that is a good match for your customer.
Let’s say you’re a real estate business. A customer looking to buy hotels and office buildings would react differently to one interested in buying a factory or retail building. So know your customers. Understand them, who they are, what they like, want, and need. This would go a long way in helping you build a brand that’d resonate specifically with them.
To create a brand that your target audience would love, you must first learn and understand what they want from your business.
Start your research by using a customer survey to collect as much information as possible about your customers. Learn their preferences, what motivates them to buy a product, and how they respond to other products.
While building your brand, don’t forget to gather information on your competition. Pay attention to what separates your business from every competitor. Focus on improving what you can give your customers that even your competitors can’t because this is a crucial step to creating disruptive products.
- Find your Brand’s Identity
Every business has a promise it hopes to fulfill in the market. This promise becomes the driving factor that motivates them to build a brand identity that’d help them achieve their objectives. For Tesla, this promise is saving the environment, for Coca-Cola, it’s inspiring moment of optimism, for BMW, it’s building the ultimate driving machine.
However, in order to create the ideal brand identity, you’ll need first-hand knowledge of your business. And you can quickly do that by breaking everything you’ve learned about your business into these categories:
- Big Ideas: What are the big ideas behind your company?
- Values: What personal business values and ideals drive your brand?
- Stories: Is there a backstory to your company? Stories are great at connecting with customers.
- Benefits: What particular advantages do you offer your clients?
- Emotions: Which strong emotion(s) do you want your audience to feel?
- Value Proposition: Can you explain your business in a sentence?
A clear picture of your brand’s elements will assist you in developing a brand that perfectly reflects your business. It would also help you craft a compelling value proposition that resonates with consumers.
- Get a Unique Brand Name
While starting your business, don’t underrate the importance of a powerful brand name because it’s the first thing people see and hear before trying your product. Customers would instantly pass over your business to another one if it has a weak or offensive name.
Devote time to crafting a powerful brand name that not only intrigues customers but also helps you stand out from the crowd. Brands like Starbucks, Amazon, Apple, and H&M all enjoy success today because their brand names are short, unique, and catchy.
Represent your business with a solid brand name because strong brand names perform up to 33% better on the stock market than weaker names. And the fastest way to get a unique brand name is to use a powerful business name generator.
- Promote Your Business
One thing that hasn’t changed with the fading of the Covid-pandemic is how an enormous chunk of our lives has migrated online. Every business hoping to maintain positive relationships with its customers must also be relevant online.
Your brand is only as powerful as it’s known, so you have to be consistent in promoting your business on social media to your target audience. According to Hootsuite, in 2020, 90% of businesses leveraged social media for brand awareness.
Make sure you get on social media and put your business in front of your target audience, even though they aren’t your customers yet. Releasing social media content, blog posts, and email newsletters is a sure way to build your brand’s audience and regularly put your business in front of a new crowd.
Don’t forget to use platforms like Facebook, Twitter, Instagram, Pinterest, and LinkedIn to build an online community that educates your audience and builds trust. You can also promote your business with influencer marketing. This way you can leverage the influencer’s active user base to build your brand identity.
- Partner with Other Brands
Entrepreneurs with young businesses mustn’t neglect building their brand by joining hands with other local businesses to organize workshops, trade shows, donate to charitable events, and sponsoring sports programs for youths or children.
Getting involved in community events is a great way to introduce your brand to your audience as a business that not only shares their values and dreams but is also interested in building the community.
You can take this a step further by forming a co-branding partnership with another brand. Co-branding partnerships like Uber’s partnership with Spotify, GoPro with RedBull, and BMW with Louis Vuitton helped these brands increase their customer base, market share, brand image, and customer loyalty.
Brand with Passion and Consistency
Building a solid brand takes time, and if you must succeed, then you must possess passion and consistency because in business, success is a reward for how consistent your brand has been, as it passionately pursues its mission and goals.
According to a study published in the Journal of Advertising Research, brands that communicate a passion for their work generate more positive impact with their audience because customers believe that the brand’s passion will make them work harder and pay more attention to the quality of their products.
Passion and consistency are ingredients you shouldn’t ignore if you want your brand to experience long-term success.