Most of the people misinterpret branding as logo but a brand is much more than that. Brand is a unique identity that includes the ideals, corporate culture of the brand, employee etiquettes which altogether create a unique impression in the minds of its customers. Many entrepreneurs do not understand the concept of brand building and commit mistakes that prove detrimental or create a negative impression on its customers. Let us try and understand the key elements of Brand Building Strategy that needs to be adopted to build a successful brand.
1.Identify your Customers
Identification of targeted customers for your business is the first step in Brand Building Strategy. Do you want to attract health conscious persons? is your brand for the kids? Do you want to focus on moms who need your products? Prepare a list of prospective customers who are essential for your brand.
2.Construct the Appropriate Tagline
Have a brainstorming session with your key people discussing about the perception you want to create to the public. How do you want your patrons to react emotionally and what impressions should remain in their minds for longer periods about your brand? Your tagline should project the very emotion you want to portray.
3.Create a Unique Identity
Know your audience and also research the way your competitors project their brand. Keeping the core common thing intact can create an identity that offers innovation and value which differentiates it from competitors to your customers
4.Maintain a Consistent Positioning of your Brand
Create a unique position in the field for your brand and stay consistent to it. This positioning needs to be the core essence of your brand, the special value it offers to your patrons and how it is different from your competitors. A very important element to remember over here is the promise of your brand and what it delivers to your customers. All your decisions should be consistently made upholding the promise and position.
5.Build your Business Culture
All the hiring and on-board activities of your company must be executed keeping your company culture in mind. Do not hire people who could be detrimental to your official culture. You must remember that even a one bad customer experience can become a cause of loss for your business. It can also destroy your multi-million dollar investment and the entire hard work that you had put into building your business.
5.Learn from your Competitor’s Weakness
Identify the weakness of your competitors and offer value to your customers. This can help you build your brand with a differentiating proposition. Your competitor could be offering excellent service but the available modes of payment maybe few. By offering your customers a wide number of options could create an affinity towards your brand. The major idea is to offer the comfort and user friendly experience to your users while transacting with your company.
Authenticity is the foundation on which your communication becomes successful whether it is your endorsement, personal interaction, Social Media visibility or your social activities. Ensure adherence to your company culture and its core values are always given prime importance. By maintaining consistency and continued communication in strategic execution, your brand can create a positive impact on your audience and brand loyalty for your business.