by Kathryn Rhoades
A brand is one of the most important and valuable assets of any business, and developing a great brand is crucial to set you apart from competitors in your industry. It's easy to create a logo, design a webpage, and hope for the best. But, have you really thought about what sets you apart from the rest?
Learn more about the basics of branding and how it affects your business.
Branding is the marketing practice of creating a name, symbol, and design that differentiates a product/service/company from others in the industry. Your brand is both the representation and reputation of your business, as well as its purpose, values, and attributes. A successful brand is memorable, recognizable, and its mission is clear and concise. It properly represents your business and resonates with your customer base. An outstanding brand sets you apart from your competitors and develops customer loyalty.
Think about your business for a second... Does it have a strong brand? Can you easily describe your brand? Can you consumers easily describe your brand? If not, or if it could be stronger, follow along as I describe the basics of developing your brand.
Know Your Company
This first step can feel like a journey of self-discovery. But, in order to begin the branding process, you must do your research in order to develop a clear picture of your company, your consumers, and your competition.
Start by answering these 5 questions:
Use a SWOT Analysis to gain greater incite.
A SWOT Analysis evaluates an organization's strengths, weaknesses, opportunities and threats. You can provide a questionnaire to everyone involved in your company to generate meaningful information for each of the four points:
Once you've done your research, you should have a clear picture of your company, as well as its strengths, weaknesses, opportunities, and threats.
Build Your Brand
Once you've clearly defined your business, it's time to start branding. These are the five basics to start building your brand:
The intent of branding is to paint a clear picture of what your company stands for and how you want to be perceived and remembered by your customers. Though the process may seem daunting, the importance of branding is crucial for success. If you feel you could benefit from some professional help, reach out to a marketing firm to assist you in developing a successful brand for your growing business.
To learn more about our marketing services and how we can help develop your brand, click here.