Do you know what the most important thing is for a company? Well, it is undoubtedly an easily recognizable brand that is loved and trusted by all the customers. The brand is definitely is one of the most precious assets that is owned by a company.
According to several surveys, it has been prominently found that, about 59% of consumers buy products that are from their familiar brands. If there is new product launch from a well-known brand and almost the same product has been launched by non-recognized brands, the former has the maximum sale.
So, if you are planning to start your own company, you must start working on how to build your brand and reach it to the mass to gain popularity and compete with similar companies or popular companies in the market. Well, if you think, branding consists just of logos and promoting it, you must reconsider your thinking. Branding is much more than that. There are several layers of branding that one must learn.
Listed below are certain branding tips from branding agencies which will be very beneficial for new entrepreneurs.
# 1 Determine your brand’s target audience
Before you plan branding, you must know who the target audience is. As, once you decide the target audience, it is easier to make the corporate identity design. It is also necessary to remember these three things while you design a brand:
• Open to accept ideas.
• Believe in your ideas or the ideas that are provided to you by the branding agency.
• Avoid perceptions and focus on results.
• Keep it simple and stupid.
• Strategy is as important as creativity.
If you start branding keeping in mind all these aspects, you can be definite about the fact that your branding would not fail. However, it is also to be noted that everything needs a proper time when it should be pitched, so, timing is also an important factor.
#2 Branding mission statement
It is very important to have a branding statement. Do you know what it is? Well, if not you can seek advice from branding agencies in India. Branding mission statement is the way to reach your target audience easily by letting them know in short what they would expect from your brand and what your notion about your brand is and how well you serve the purpose.
Basically the mission statement is to tell the audience the purpose of existing of the brand.
The brand statement explains every aspects of brand building.
Everything that you design for the brand is starting from the logo to tagline, message or personality and voice, must all talk about the mission and the vision that you and your brand possess.
For example, Nike, as we know, is one of the most recognized sports brands, has the tagline: Just Do It. However, do you have any idea about its mission?
Well, Nike’s mission justifies the tagline well. It says: To bring inspiration and innovation to every athlete in the world.
#3 Research brands within your industry forte:
It is very important to know the best brands that provide you competition or are ruling the market that you want to capture. A detailed market study is very important. If you are not sure enough to be a smart and expert market analyst, you must seek help from the experts. There are several branding agencies in Bangalore who can guide you with the best market analysts so that you can well decide on the products and the level of competition that you might get,
As it is said to any business, that one must have a detailed knowledge about the competitors’ pros and cons equally to get hold of a position in the market. So, before your branding, you must do that too.
#4 Outline the key qualities & benefits your brand offers:
Until and unless your customers and target audience know what you offer, they would not be able to relate and get connected to your brand. If that happens, it would be very difficult for you to get your identity in the market. So, your customers’ needs to know what are the key products that you are offering them and the benefits of such products and why would they choose you over any other brands in the market.
It is important to figure out what relation you have with your target audience and that is how you will know your branding is successful.
Keeping all these branding tips, one can successfully build a brand. However, not all the tasks mentioned here could be done by one particular person as there are several segments to branding as discussed earlier. So, if you are planning to start up your own brand, contact experts and seek their help. There are several branding agencies in India who can assist you to the best. So, happy branding!
About the author:
Ajay S Nair, Brand Strategist & CEO of Fresh Mind Ideas.