When starting a business, it is important to understand your business’ brand, as well as the elements that make up good branding, in order to reach your desired audience. We will be looking to understanding branding on a foundation level as well as the key aspects and components that must be carefully thought out in order to have an attention-grabbing brand.
What is branding?
Simply put, branding is a marketing practice by where a business or company create an easily identifiable image that is associated with or belongs to a specific organisation. Making your business easily identifiable and recognisable is the ultimate goal of all businesses, whether product or service based. Branding is a very important marketing tool as not only does it give a first impression to your customers; it allows for new potential clients to know exactly what to expect from your company.
Why is branding important?
Branding is one of the most important tools any business can have. In many instances, branding can be the deciding factor for customers when they need to made decisions regarding what products or services to buy. Many of us have brand preferences with certain products, and most people only buy from brands they know… which can make things a little difficult for new up-and-coming brands that are not yet well known.
So how does one build a good brand? Well there are a few strategic steps in creating a good branding for your company:
1. Identify target market.
2. Build brand awareness.
3. Differentiate yourself from your competitors.
4. Create your aesthetic.
5. Do the work.
Identify your target market.
Brand awareness is the goal of any business, whether it is starting out or is already established. The basis of good branding is identifying and understanding your target market. You need to identify your chosen audience in order to know how to appeal and resonate with the correct people. Step one in branding strategy should always be about researching and understanding who you are appealing to in order to know exactly how to attract them.
Build brand awareness.
Now the term brand awareness is mentioned a lot in advertising and marketing, and it simply refers to how familiar the public, and more specifically your target audience is with your brand. Basically, customers need to know about your brand in order to support it, they cannot buy from you if they don’t even know you exist.
Differentiate yourself from your competitors.
Ever wanted to do something and heard people say, “that market is saturated”? Well every market is saturated; the key is to stand out. Understanding your own business will allow you to see what your unique selling points are and when developing a brand, try focus on the elements that make your business unique. Your mission statement, values and qualities could be the difference between you and your closest competitors.Create your aesthetic.
Now that you’ve taken the time to understand your business, target market and goals, its time to actually begin creating the aesthetic. This is where you begin to visually design your brand and start finalising decisions regarding your logo, fonts, colour palette and more. Ensure that your aesthetic or visual components align with your vision for your brand. Take your products/services into account as well as what your think your target market will be attracted to most.
Do the work.
Now it’s time to put all the above steps into practice and actually do the work. It’s time to get your brand out there, and fortunately today we have many tools that have made reaching target audiences much easier. This can be done through social media, websites, email marketing and many other tools that are utilised in modern marketing.
A house built on a solid foundation will always last longer, and your brand strategy is the foundation for every good brand. Focus on the basics and ensure that you do your research, understand your target market and execute according to the plan in order to create a strong, memorable and reliable brand.