Developing a successful brand for your business is all about setting your business apart. To make your brand stand out from others, you need to ensure that your branding strategies are aimed at making your business (and products) memorable, unique and trusted, and ensuring they resonate with consumers. In return, your business will enjoy higher customer loyalty levels, boosted profit margins, and better visibility. In fact, businesses with a stronger brand witness a 31 percent higher shareholder growth and three times faster growth, according to a publication in the Economist.
When it comes to brand development, details are crucial. From the image your brand projects to your brand positioning in the online arena, creating a brand with success in mind requires ongoing innovation and commitment to getting all the details right.
Work On Your Brand Statement And Image
A well-written brand or mission statement has the power to evoke a reaction and initial interest from customers. A brand’s mission statement simply communicates your business’ goals and serves as a foundational point for customers to get to know a brand. It is also a great place to begin telling your brand story.
Similarly, well-designed brand imagery or details including a memorable name and brand colours can affect how customers view your brand – and play a large part in their first impressions. According to a study by Reboot, the use of a signature colour can increase brand recognition by as much as 80 percent. To help with the task of brand naming, consider the vision you have for your brand, as well as your ideal target market. Many naming agencies also recommend using name evaluation research and trademark screening to ensure your brand name is unique and avoids legal complications.
Make Your Branding Efforts Consistent
Brand consistency is one of the simplest yet most effective moves you can make when building a successful brand. Past estimates by Lucidpress claim that consistent presentation of a brand can increase brand revenue by as much as 33 percent. Experts claim that for people to remember your brand, they need to be exposed to it between five and seven times. Therefore, the more consistent you are with your branding strategies, the more recognizable your brand becomes.
Also, brand consistency helps to build customer trust and, indirectly, your sales activity: 81 percent of consumers say they need to be able to trust the brands they purchase from. To ensure your branding efforts remain consistent, ensure your brand message and visuals are well aligned and harmonious across all communication channels, including social media and print media. Other strategies that can make your brand identity more consistent include creating a brand guide and regularly auditing your branded materials to adhere to your established guidelines.
Make Your Digital Brand Identity A Core Part Of Brand Development
Finally, focus on building your business’s online brand. Approximately 67 percent of the consumer’s purchase journey is now done digitally, which means your online branding and information carry a lot of weight in influencing your brand image. A key thing to remember here is that creating a successful online brand can be quite different from the strategies you use when building a successful offline brand.
In the digital arena, consumers value real-time communication and content. In other words, you should add a face to your brand online. Additionally, businesses should keep their branding message and content consistent across all their online channels, including social media and video platforms. If you choose to use both influencer and video content marketing, they should both tie into a connected goal. This can be done either directly, or with the use of consistent brand imagery and tone.
There are a million ways to build a brand – but only a handful of ways to build a brand that stands out for all the right reasons. The simplest way to branding success? Listen to your audience and stay authentic. These tips are just the first stepping stones to building a successful brand in today’s competitive world.
