In technical terms, a brand is defined as a set of features that differentiates one company from the other. However, the influence of a brand extends beyond this simple definition. This is why Starbucks is not just an ordinary chain of coffeehouses or Apple any regular technology company. Hence, the buzz for branding.
Businesses are aware of the immense power that a unique and well-received brand identity can have on the growth of their enterprise. A glance at the current market scenario can explain the importance of creating an outstanding brand identity. Consequently, businesses put exceptional efforts and creativity to closely align their brand identity and brand image. This is what branding is concerned with.
What is Branding?
Branding refers to the process of conducting research, and then consequently developing and applying a set of unique features to an organisation. This like every other business strategy is done to attract consumers. But the greater aim is to allow customers to identify the brand with your products or services for the long run.
Considering that branding can be a major factor that influences the final purchasing decision, it’s a significant process for every organisation. The task can be extremely difficult. However, we make this process easier for you with a stepwise guide and effective tips to branding for beginners:
Discovering your brand’s purpose
Before taking any step further in building your business, it’s important to answer and be very clear about one question: Why did you create your business?
The answer to this is crucial as it will build your mission statement. Consequently, it defines your purpose as an organisation. Building a business is a time-consuming and demanding venture. But asking some critical questions like this can serve as motivation during challenging times.
However, the most important reason to have a mission and vision is to communicate the same to your customers. Having clarity about the purpose will be reflected in every step you take in the significant branding process. Additionally, this gives people a reason to care about your brand and organisation. This further allows them to decide their response as a customer in the market.
Deciding your target customer
Building and running a business is testing. It’s often considered a ‘gamble’. But branding can help to create awareness, trust and consequently generate revenue. In simpler words, the risk can be minimized and a customer base can be formed with branding. However, all this requires you to know the ‘who’, i.e. your ideal customer.
A target market research is necessary to determine your target audience. Knowing the demographics of your ideal customers can be a key to unlock your growth. These demographics can include the following:
- Education and qualifications
- Lifestyle and the struggles
Knowledge about your potential customer can, in turn, allow you to make your branding decisions and make them your actual customer. Hence, building a brand will become easier provided you can put yourself in their shoes which requires you to know the ‘who’.
Establishing your strengths, qualities, and values
The process of branding is almost like self-discovery as it enables one organization to dig deep and find itself. Your brand is that significant asset that’s completely unique and original. This calls for you to define the values, strengths, and qualities that set your brand apart.
Creating your brand with visual and verbal elements
As discussed above, comprehensive knowledge about your business from its purpose to the ideal customer determines the branding process. This gives direction to how to build your business including the brand elements like logo, typography, iconography, colour palette, etc.
This step involves choosing the words that you use for the name of your business, tagline, and the “brand promise”.
A psychology principle applied in marketing that becomes crucial here is the psychology of colour. According to this principle, colour evokes different emotions in people, like blue signifies trust. Different colours used in marketing determine the way people value a business. As a result, marketers apply this principle to benefit their enterprise.
Employing your branding strategy
After creating a brand strategy, it’s important to execute the same carefully and correctly. This applies to every platform or medium where the brand contacts or communicates with the customers. So listed below are some tips for different mediums:
A website is an official identity that exists in the public domain. Considering its significant part in forming company identity, it must reflect the brand. In order to provide a smooth and satisfactory customer experience, make sure that every content on the website matches your brand voice.
While most businesses focus on the larger aspects of branding, the packaging is missed out. However, considering it’s the most real way a customer interacts with a brand, even packaging should reflect the branding.
Social Media has become the modern way of communication. Brands can use this space to have a friendly interaction with customers and expand their customer base. Before posting such content, brands must ensure that their page reflects their brand identity. For example, brands should use their logo as their profile photo. This can help customers to recognise your business and distinguish it from your competitors.
Important tips for branding
Branding is a process that must be carried out carefully. Two things that must be taken care of are:
Focus on consistency
Inconsistency is a branding mistake as it misleads your customers. Consistency is a sign of a valuable and strong organisation. Hence, a brand that prioritises consistency, benefits from it. A similar presence across all platforms makes it easy for customers to recognise your brand and eventually prefer the same.
Forming and following a brand strategy
An organisation should build a brand strategy with long-term goals. However, the strategy should be flexible enough to incorporate new trends or demands.
Branding is not a simple process. But building and running a business have always been a challenge. While branding can aid to grow your business, we at Shaktiki can help instil growth through our expertise in marketing.
Contact Shaktiki for all your marketing solutions.