Are you starting your new business? If yes, we know the rush and nervousness especially when there are so many things you need to get right. In this huge list, the brand building must be the top few.
According to a study, it takes 5-7 impressions to remember a brand that makes your struggle all the more difficult. To help ease that, here are some innovative ways of brand building.
1. Creating a Niche and Identifying Your Business’ Core Customers
Mass marketing strategies worked in the stone age, only. Now, it is all about competition and a similar range of products and services being offered by each and every business. Thus, most of the businesses get lost, eventually wither and die.
If you don’t wish to die too, target a special set of customers for your brand after you have crafted a niche in the market. You can do that by taking surveys, understanding customer behavior, etc.
Once you create a niche, you can easily focus on product development, enhancing the brand experience, maximizing profit generation, and then venturing into a different niche, altogether. Niche Building is one of the major steps of Brand Building!
2. Developing an Online Presence for Your Brand
The entire world has moved online. According to a NASDAQ report, it is estimated that 95% of businesses will move online by 2040. Thus, there is a tectonic shift happening in the industry and you can’t be left behind in the race.
If you still think being online is luxury, you need to rethink it. It’s becoming a necessity by the day. Customers first “Google it”, read about the reviews and experience of your existing customers, and then go ahead with the purchase.
Through social media, you can also run ads and target people on the basis of their interests, demographics, likes and preferences, social media interaction, etc. Long story short, it is the perfect boombox for modern era businesses!
3. Value Creation with Product Offerings
When it comes to developing the brand, the first thing should be to have a vision and an ideology behind the same. Once this falls into place, it will be easier for you to scale. One of the most important aspects of the vision has to be – creating Value with the product or services.
Value can be created in a lot of ways – be it solving a problem with your offerings or creating filling a need reckoned by your customers. Once people see the worth in the offering, they will automatically start investing it.
The value needs to be communicated to the end customers too. This is where branding and marketing activities come into play. The value can reach in the following manners:
- Customer Testimonials establishing the brand’s authenticity
- A better demonstration of the usability of the brand’s offerings.
4. Create a Strong Branding Tool
If you aim to create a brand, you need to use the right tools to reach out to your business’ target audience. However, we are not talking about any tools in the literal meaning of the word. The various instruments, which can be called Branding Tools are:
- Logo of the Brand
- The tagline of the Brand
- The mascot of the Brand
- Marketing Materials of the Brand, etc.
These tools are used to create an impression of the business in the minds of the customers!
Everything has to be well-knit and thought carefully. The message needs to be loud and clear and it has to be concurrent with the brand ideal.
For instance, for Nike, the tagline is “Just Do It.” This helps the brand associate with the raw and adrenaline sparked sportsperson, and it also talks about impulse and its importance to do things and getting it done correctly.
You can also add your own unique touch to your branding tools. For instance, you can use digital business cards from Mobilocard instead of traditional paper business cards or you can launch your business online with some fun activities instead of hosting traditional events.
5. Having a Consistent Approach
Branding is all about consistency and innovating ideas that are easy-to-execute. It is concurrent with the belief – Out of sight, Out of mind.
With the advancement of technology, businesses and brands worldwide are using tools and software to level up their branding efforts. They are automating their marketing and using customer data to make the offerings more personalized. This has not only saved human effort but also enhanced the accuracy
6. Maintaining a Unique Brand Communication Strategy
Consistency is not enough to transform your business into a brand. You need to back it up with a unique communication strategy with the help of unique branding tools. However, if you really want to create a space in the minds of the customers, make sure your campaigns are different from the crowd.
You can start by making your mascot famous and follow up with quality content and data-driven campaigns. Apart from that, make sure your Unique Selling Proposition or USP stands out and it is followed by a steady push of your product or service offerings.
7. Research is the Key to Building a Brand
If you want to build a brand at a cheap cost, you need to have the right research. Start with an amazing SWOT analysis, and find opportunities, where you can market your brand. Once this is done, and you are all set to execute your marketing strategy, you will need the support of data, facts, and figures. This will not only guarantee success but also reduce efforts.
Lastly, make sure you have a plan to keep track of your campaigns and measure their success. The budget also plays an important role as it is limited, and maximum utilization is important. With a hardcore research, you can be as good as corporate giants with big budgets.
So, what are you waiting for? Read and apply these techniques if you wish to achieve big in the brand building!