How to brand your brand: A brief guide
A brand is a name, term, design, symbol, or any other specific feature that would identify a seller’s goods or services from those of their competitors. In order to build a thriving and unique business, branding is the way to go. So if you are wondering how to brand your brand, this brief guide is for you.
Small businesses often tend to think that branding might be only for big brands having unlimited marketing budgets and broad reach. But, this is not the case. A smart branding strategy would help you bridge the gap between typical and extraordinary marketing.
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Why brand your business?
However, before we get into the essentials of how to brand your business name, it is important to understand why it is necessary.
- A strong brand identity helps distinguish your product and service from other similar ones. Branding your brand could help your customers recognize and pick your product with an impressive brand.
- Branding helps make your business more credible. Once you develop its personality and distinguishable qualities, people start associating with it which, in turn, makes it more plausible. A brand would provide a trustworthy factor to your business which would be excellent for creating business value.
- Having a great brand will help your product market itself. The right image of your product would help you in curating and creating advertisements that would appeal to your target audience as well.
Once you are ready with your research data and know your product completely, you could begin your journey towards reliable brand building. In the following, we have listed a few tips and tricks that can help you answer the question of how to brand your brand.
Go for smart, not fancy
- Have you ever wondered how Nike managed to be a major player in the sporting apparel industry with a simple logo and tagline? When researching how to brand your brand, it is often not the long taglines but simplistic slogans that help customers relate to the brand.
- We can again take Nike as an example. It has built a lifestyle around its product that appeals to a specific group of people with an active lifestyle who can relate to the motivation tagline, Just Do It.
Support a cause
- According to a global survey, a company’s ethical values and authenticity influence the purchase consideration for around 62% of consumers.
- Running a business that supports a cause not only helps you do something positive but also gives an additional reason to your customers to buy your product.
- Not all types of businesses have the time or resources to be able to reach everyone. Therefore, targeting a specific group of audiences helps a company channel its limited promotional resources to those who are likely to relate to the product and increase sales.
- Having one group of customers would also enable you to keep a close eye on their needs and wants and modify your strategy if required.
- Looking at your competitors and their campaigns could be intimidating at times when wondering how to brand your brand. Although these strategies might seem lucrative, it is essential to never imitate them.
- Imitating others defies the sole purpose of branding, which is creating a distinct identity. Your brand should focus on convincing your customers that they should choose you over your competitors and that you are not the same.
- Although you can gain inspiration but ensure to never copy any elements from your competitors as this would not only decrease your reliability but could also reduce consumer confidence in your brand.
- After you have successfully designed your company brand’s logo and tagline, it is important to never drift away from what your company stands for. When promoting your business, remain consistent with where you started.
- Creating a holistic identity means that everything you do should be compatible with the identity you have built for yourself.
Communication is key
- Whenever you create a user-friendly website, good communication is the heart of any successful brand. It not only makes your company reliable and trustworthy but also helps attract loyal customers.
A strong brand-building strategy can do wonders for your company. Following the right steps will help you be on the path to success.
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Frequently asked questions
1. What are the 4 steps of branding?
The 4 steps of a successful branding strategy include the following:
- Define how you want to be perceived
- Organize your business based on this promise
- Communicate your promise with your customers
- Be consistent
2. What is the meaning of a brand?
- The term brand refers to a business and marketing concept that helps people identify a particular company, product, or individual.
3. How do you build a strong brand?
When researching how to brand your brand, these steps could help you build a strong brand:
- Determine your target audience
- Know the competitive environment
- Create a logo
- Write down your key messages
- Be consistent
- Incorporate your logo across marketing channels
4. How much does it cost to brand your business?
- The pricing would be determined by how many people are working on your branding project and the complexity of your deliverables. The approximate cost would range between $5,000 and $20,000 for freelancers and small firms and between $30,000 and $80,000 for large firms. However, these figures could differ based on the country you are in.
5. What is a strong personal brand?
- Your expertise, mission, and unique positioning through a compelling brand story are some of the ingredients of a powerful personal brand. You would have to uncover and design these elements before jumping into action and creating content to market yourself.