Branding is one of the most important areas of marketing for any company. An effective brand strategy will give you a significant advantage in today's competitive markets. But what does it mean to have good branding? And how does branding affect your business?
In short, your brand is your promise to your client. Your brand tells them exactly what they should expect from your products and services and set you apart from your competitors. Your brand is your company identity; it's who you are.
Like everything in business and marketing, you need to develop a strategy to create effective branding. Your brand strategy is the why, what, where, and who. Why are you in business? What are you selling? Where are you going to advertise and communicate with your audience? And most importantly, who are you communicating with?
Strong and consistent branding adds value to your company's goods or services and helps to make your company distinguishable. The most obvious example of this is Apple. They have built a strong brand over the years that allows them to charge more for their products because customers are more than willing to pay the higher price. And let's be honest, Apple could even be considered a household name.
When branding yourself or your company, you want to have a good understanding of who your target audience is. You can’t be all things to all people, so make sure to ask yourself the hard questions. Are your products expensive or high-end, or are they the less expensive and a high-value alternative? Are you currently the innovative maverick in your industry or the more experienced, dependable one?
Defining your brand can be challenging and time-consuming, so start by answering these three questions:
What is your company’s mission statement?
What are the benefits and features of your products or services?
What qualities do you want your audience to associate with your business?
Once you've defined your brand, how do you get the word out?
Create a stunning logo.
Develop a color scheme and decide on logo placement. Simple and consistent is better than fancy and random.
Develop a tagline that is memorable, meaningful, and concise. Make sure that it captures the heart of your brand.
Integrate your brand into everything. And yes, we mean everything. Your brand should extend into every aspect of your business: how you answer the phone, what you or your team wear, your e-mail signature, etc.
Branding is definitely complex and can be overwhelming. Your brand is what people remember. The most important thing you and your company can do is to be true to your brand and always deliver on your brand's promise.
Still feeling like you don't know where even to start? The Hive Marketing Collective can create a custom branding experience for you and your audience, including everything from your color scheme and fonts to business card layouts and collateral for print media. Let's chat about how we can create a memorable branding experience together.