Sep 18 , 2022
Today’s ever-evolving trends are causing a brand’s life cycle to become shorter than ever. With the incursion of thousands of competitors, plus the multiple brand exposures people are being subjected to, businesses are struggling to make an impression among their potential buyers.
Developing a robust branding strategy is even more relevant in today's market. One of the common mistakes made by business owners is thinking that building a business is more important than building a brand.
But what does building a brand even mean?
Simply put, your brand is defined by how customers perceive your business. Or, as the founder of Amazon, Jeff Bezos, said even better: “Your brand is what other people say about you when you’re not in the room.”
Thus, building a brand is more than coming up with your logo, a well-placed advertisement, or a website. It is much more than that!
- It is your business’s whole identity.
- Provides your brand with a unique personality to which customers can relate.
- Defines the reputation of your business.
Just picture for a moment the brand you love and would not change for any other. The brand to whom you would be willing to pay a higher price for a specific item even though you are aware of other existing brand products that are cheaper and could be a good fit for you.
What is that you love from that brand? Does that brand inspire trust in you? What keeps you coming back?
Well, the answer is simple. That brand you love has done a terrific job developing solid branding. They have performed profound market research and outlined the qualities that make them stand out from their competitors.
Would it make sense to state branding could be a potential game changer for your business's success? In short: The answer is Yes!
Let’s see why!
You will stand out in a saturated market
There are thousands of products in the market, and they all promise to solve a customer’s specific pain point. Therefore, it’s becoming more difficult for customers to recognize and differentiate brands.
How are brands going to compete within a saturated market? What should you do as a business owner to battle against the fierce competition in your product niche?
We bring you good news! Most of the time, it doesn’t matter if you’re selling a very offered product or service within your category market. What truly makes the difference is how your audience perceives you!
Good branding helps you craft the image you want your audience to have about your company. It is the ultimate factor potential customers take into consideration when purchasing your product instead of those from the competition, as you’re telling them why they should choose your product.
Perform solid competitor research and create benchmark brands to establish the unique way you're positioning your brand in the market - in other words, why they should choose you.
Identify what has worked for your competition in the past and what hasn’t. But never use this research to imitate them. Remember, you’re finding ways to position yourself as a unique brand. So instead, use it as a global perspective that can lead you to develop creative ideas.
Dig deep and you’ll find those nuggets of power that will distinguish your brand from others!
Brand awareness will be at your reach
Having a recognizable brand is one of the most valuable things you can have as a business owner. If you’re able to create a brand that people can easily remember when looking at your logo, theme, etc, your products are more likely to be chosen over others.
In short, buyers will feel more familiar with your brand and what it stands for. This sense of familiarity happens because branding makes potential customers perceive your brand as an established and credible business.
That is why you should focus on building perfect branding that is always consistent at every touch point of your company. Being consistent with your branding through all your channels allows customers to know what to expect from your brand.
Set up your company’s communication and positioning so they align with your values and build what’s known as brand authority. In simple words, it is the authority that will be tied to your product or the consumer’s action of making a direct and positive association when thinking of your brand.
For example, what’s the first brand that pops into your mind when you think of the name of a brand of tissues, Kleenex, right? That’s a brand authority to its highest level!
If you would like customers to think of your brand first when they are asked for a specific product category, brand building is the key!
Build trust with storytelling
People recognizing your brand is a crucial foundation to eventually acquiring customers. But if your goal is to go beyond that first step of the marketing funnel and ensure customers keep buying from you, brand building is something you should be working on. It’s as simple as people need to trust you before they prefer you over another brand.
One of the best ways to build brand trust is through storytelling. A brand that creates an emotional connection with its audience through a powerful message is capable of influencing their decisions and potentially turning them into their own advocates.
Storytelling is so powerful that it can turn the most boring product or service into whole meaningful experience customers won’t ever forget. Remember the Google campaign that used warming stories of how the search engine reunited people after years apart? Or the slogan “Open Happiness” used in advertising by Coca-Cola?
All these campaigns and storytelling strategies aim to trigger a specific feeling amongst their audience so next time, when they think of the brand they will relate it to what the brand made them feel. In simple words, customers end up trusting the brand because it made them feel good!
Find your brand’s story, stand up for a value that is important at your business's core in the most compellingly and authentic way possible and start connecting with your audience on a deeper level!Request a consultation