Branding is fundamental for business success. Not only should it encapsulate the very essence of a company but strong branding will also ensure that a business stands out in a competitive environment.
Through creative and effective branding, companies can:
- Differentiate themselves from their competition giving, customers a reason to choose them first.
- Give customers and prospects a clear idea of what the brand stands for and what it offers. Not only will this set and manage customer expectations, but it will also build trust and confidence – so long as these expectations are consistently met.
- Increase awareness of the business and its products or services, by engaging with customers and creating a connection
- Charge a premium. Customers expect to pay more for branded products than for unbranded products. The same can be said for services. A well known and respected service provider with a strong brand can demand a higher price than an unknown but equally as good service provider.
- Apply the branding to their complete range of products or services. It will also allow companies to move into new market sectors without changing their core brand identity.
Does your business have a strong brand?
It is worthwhile taking a step back to review your branding on a regular basis. Here are a few questions to help you assess whether or not you are harnessing effective branding:
- Does your branding represent the true value of your business? It is important to always be clear about what your business stands for.
- Does your branding promote your strengths? If you are selling your own services this could be your expertise, your customer services, your specialist skills and knowledge, your proven success. If you are selling products consider quality, price, customer service, innovation and whatever else might set them apart from other products in the market
- Is your branding still relevant? Does it accurately reflect your company and its’ brand today?
- Have you listened to and understood what your customers want and need – is this reflected in your branding?
- Does your brand communicate the right message and does it reach the right audience? Focus on your target market rather than everyone – it’s your target market that will buy from you.
- Do you deliver what your brand promises? It’s crucial that your customers’expectations are met and that your branding accurately reflects your company and what it delivers. Be careful to avoid overpromising and under-delivering.
- Is your branding consistent? Are you confident that your branding provides customers with a universal experience, every time they come in contact with you – across all marketing and distribution channels?
Having answered these questions, you should now have a clear idea of any areas that you might need to review in order to improve the strength of your branding to make it more effective.
If you are still unsure – why not request a FREE brand health check, which we will be happy to provide together with top line recommendations on how you can improve the branding of your business.
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