A brand is the most valuable asset a business can have. However, it is a challenge for startups to build brands for their new products. They will be competing against some of the big names in the market with loyal customers and an unlimited marketing budget. That is why you should be tactical when thinking about brand building.
Brand building does not happen overnight or even months. It is a process that might take years but finally pays off. You only need to know the steps on how to build a strong brand that will withstand the market turbulences. This post is about how to build a brand, step-by-step. Keep reading!
What is Brand Building?
Brand building is the process of creating awareness about your products and services by deploying strategies and conducting campaigns. It creates a unique and lasting image in the marketplace that will make the business stand out.
Brand building is divided into three sections: brand strategy, brand identity, and brand marketing. There is more to these steps, but that is a topic for another day.
Hot to Build a Brand: 7 Steps
Conduct a Market Research
Market research involves identifying who your target audience and competitors are. Know what your competitors might be doing better than you to improve and leverage on their weaknesses. You can do that by searching about your products on Google or any other search engine.
You also need to understand your target audience. Your audience is the people who will be interacting with your brand. Find out how your product can reach them and anticipate their reactions towards the brand that you are building.
Create the Brand Personality
These are statements that identify your brand in a crowded market. They include slogans and positioning statements. You have to choose words carefully if you need to build brand name. Just think of your to-be brand as a person. How would customers describe that person? What adjectives best define the brand or business? How will your audience receive such statements, and what will be their perception?
Choose a Business Name
Many people believe that a business name has to reflect the product or service. While it is encouraged, there is no obligation. What matters is how your brand will be received in the market. A business name is needed when registering your business, designing a logo, and creating a website. In other words, a brand cannot exist without a business name.
Most business names are coined from one word, phrase, metaphor, description, acronyms, compound words, and altered letters in a word. Just be creative on how you create a business name to build brand.
Write a Slogan
A slogan is a short phrase commonly used as taglines in business cards, websites, social media, and ads. They are usually descriptive and unique, meaning you should not copy what other brands are using. Fortunately, there are online slogan makers to help you find a phrase to use for your brand.
Choose Colors That Identify your Brand
Many brands are associated with different colors and typography. You can choose any color for your brand, provided it is not the same as the competitors. It should also be consistent across all platforms. And remember, different colors evoke different emotions. So, you should consider that as well.
Apart from color, you might also want to choose a font type to use when writing anything concerning your brand. That also needs consistency across different platforms: website, social media, business cards, ads, etc.
A business log speaks volumes. It is like a rubber stamp that identifies your brand. Your logo should be present everywhere your brand is known to exist. Spend your time and resources, if possible, to design a professional logo. Startups are better off choosing a logo with both watermark and graphics. After building a brand, you can switch to what best suits you.
Keep Brand Consistency Across your Businesses
Brand consistency helps in creating a brand story, which is what your business stands for. It is the first to impress your target audience wherever they interact with your business.