As a business owner, have you ever wonder what can I do to differentiate my brand from an endlessly long list of cutthroat competitors? The answer to your question is BRANDING!
Whether you’re actively managing your brand identity or not, it exists, and the chances of coming out as the ideal choice to your potential clients rests on how strong and reliable your brand is. That catchy slogan and creating a logo isn’t enough, but just the beginning. To stand out, you need to go beyond these and include essential elements that define your business several years ahead.
Building your business's brand is a necessity and here you will see how you can build your brand.
1. Determine Your Core Values and Missions
What are your core values? Core values are principles that drive your goals, mission, and vision. These beliefs shape your company culture, which then influences stakeholders’ perceptions. Therefore, using generic words that do not define what your business stands for will only lead to a conflicting brand image. Instead, be specific, use your own words, and ensure the entire organization embodies these principles.
Why does your business exist? Your mission answers this question. To write a powerful mission statement, describe the purpose of your business, who your customers are, the products or services you render, and how you do it. Summarize this in a few words to make it memorable.
2. Identify Your Audience
When identifying your audience, there are a few steps to this process.
a. Analyze your current customer base
Existing customers are a goldmine of information as they know what is impressive or lacking in your brand. Discover their interests and needs.
What is their most pressing pain point?
Which businesses do they trust and buy from?
What would they love to see in your brand?
You can engage customers directly through calls and surveys or study them to find answers. Chances are, you’ll find common characteristics or patterns that’ll help you define your target audience.
b. Conduct market research
Market research can help you uncover industry trends, opportunities, customer preferences, buying habits, and conversations about your brand or others. Also, it’s an effective way to gather information on your competition. Note who their customers are, preferred channels, interests, etc. Relevant social media channels, review sites, industry forums, or Q&A sites like Reddit are great places to start your research.
c. Create buyer personas
Group customers based on patterns or common traits you uncover and represent them with a persona. Include demographic, psychographic, behavioral, and geographic details. For example, the name of a persona that describes a group of construction workers with similarities could be Building Ben. He could be:
35 years old.
A father of three kids.
Based in Orlando.
Owner of Hammer River Construction with a team of six.
A lover of reliable but innovative construction tools.
The list goes on and on. What matters is that you include the crucial details.
3. Define Your Brand Personality
Your brand personality, just like that of an individual’s, is a combination of qualities that your organization exhibits. Ideally, these characteristics will attract people to your company and shape their perceptions. Therefore, a personality that resonates with your customers could help you build an emotional connection and stand out from competitors.
Consider the qualities you’d love to associate with your brand. Do you want to be seen as visionary, competent, or charismatic? Pick your traits and the voice you’ll communicate with. For example, if your brand personality is rugged, your brand voice could be confident and strong.
Building your brand does not have to be overwhelming or expensive. Most of these tips cost little to nothing. You can start with a slim budget and then scale your branding efforts as your company grows.