Successfully starting up a new business is no easy feat. You’ve developed a product or service you’re sure will meet the needs of many customers and you’ve created a solid business plan, but how do you let your customers know about your business? How do you get your product or service chosen from among your competitors? The answer is branding. By creating an appealing brand that reflects your company’s core values, you’ll appeal to more customers and create a sense of loyalty among them. Thus, potentially increasing your company’s revenue and engaging consumers over the long-term.
The brand is essentially the soul of the company. Your brand encompasses your company’s image and reputation. It makes you stand out from the crowd. According to Merriam-Webster, a brand is “a public image, reputation, or identity conceived of as something to be marketed or promoted.” Therefore, “branding” is the process of promoting and marketing a product or service by associating it with a specific brand.
Values and Purpose
In order to successfully build your brand, you must first evaluate your company, your values, and the goals you hope to achieve. Doing so will help you discover your brand’s identity. The brand Seventh Generation, for example, values sustainability, conservation, and utilizing recycled materials when marketing and developing products. The company’s purpose is clear to consumers. To determine your values and purpose, ask yourself: What is the purpose of the company and the products or services it provides? What are the core values your company holds?
Once you’ve developed a powerful identity for your brand, you can determine your target audience. For whom do you want to market your product or service? For example, when developing their Hot Wheels toys, Mattel took into consideration their target audience of young children in order to develop an engaging and appealing toy. Consider the following aspects to reach your target customer base: their age, gender, cultural background, socio-economic status, and geographical location. Knowing these components can assist you in developing a brand geared toward the target audience.
Logo and Slogan
A successful brand includes a logo and a slogan. A well-designed logo appeals to the customer from an instinctual perspective, while a catchy slogan resonates with the customer’s feelings and creates a lasting emotional connection. An eye-catching logo will often include interesting designs and complementary colors. The FedEx logo is
a prime example. The purple and orange colors make the logo pop, while the use of white space between the letters creates a hidden arrow, which subliminally symbolizes precision and speed. A successful slogan will evoke an emotional response from the customer. In Dove’s marketing campaign, for example, their new slogan “You are more beautiful than you think,” encourages confidence and positivity. If you can draw the customer in with a creative logo and form an emotional connection with your slogan, you will maintain a solid consumer base over time.
Creating a strong brand takes time and effort, but is critical to the success of your company. Read the “Kitchen and Bath Design” news article by Denise Grothouse here to learn more. Companies with a history of strong identity and clear brand are more likely to be well-established within the industry. Branding allows you to share your purpose and core values with new customers and it reminds existing customers about the products and services that you offer. Taking the time to develop a unique and appealing brand is one of the best marketing strategies you can have at your company’s disposal.
This article was co-written by guest author Kimberly Macasevich.