Branding is the core of any business. If you take a look at your surroundings, you will realize that every business has its own unique branding strategies. The success of the biggest companies in the world like Amazon, Facebook, Microsoft, and Gucci is not only based on the quality of service that they are providing but it also depends on representing your brand in front of the right customers at the right time. Before we move on to the branding strategies, let us take a look at the significance of branding.
Significance of Branding:
1. Your brand is your company’s identity. It gives a unique image and look for your organization. Branding will help your audience differentiate you from all your competitors.
2. When you are investing time and money in any startup, it needs to have a clear direction. Branding helps you gain a clear idea about the future of your business. For example, once you know your brand, you can make the necessary steps towards the right marketing for your brand.
3. Branding will also give you a unique selling point. You can build a sense of familiarity and trust around your brand by giving it an identity.
4. It doesn’t only help customers in understanding your brand, but it will also help your employees to focus on what your company’s goals.
Branding Tips for startups
A Branding strategy is more than just designing a logo and a name. There are different strategies to be used.
Advertise your brand at the potential Marketplace
If you are new in any field, you need to carry out an analysis of every aspect that concerns your business. One of the most significant factors is the targeted marketplace for your brand. Once you select your market, you need to advertise your brand at that marketplace. While considering selling a product to a particular group of people, you need to consider the following points.
1. What are their interests?
2. What is their feedback on similar products?
3. What is the age group of people you are dealing with?
If you analyze all these points, then you will be able to know about your marketplace and customer base better.
Carryout Competitive analysis
Even if your startup is extremely unique, you are going to have competitors all around the world. So you need to know what are they up to. If you know what your competitors are doing, you can always be a step ahead.
Studying competitors who are working in your niche for long will help you determine the strengths and weaknesses of the business. You can determine which brand strategy worked for them and which didn't. Whenever you are carrying out competitive analysis, you need to get answers to the following questions.
1. What does the most famous logos in my niche look like?
2. What should be my considerations while picking out a name?
3. What percentage of my customer base is shared by my competitors?
4. What are the branding strategies used by my competitors?
5. What mistakes did my competitors make?
Through the process of this analysis, you can design a strategy that will be beneficial and unique.
Build a unique identity for your brand
The underlying human tendency is that we don't get attracted to the usual things. We pay attention to something that holds an entirely different perspective. Your product can be of the best quality, but the thing that will make people notice your brand is the USP you hold. You need to stand out.
The thing that will help you be unique is definitely your branding strategy. Sometimes the product itself don’t matter that much but the branding strategy created around the brand is what helps create the hype, and that in turn will help your brand become more successful.
Be careful while choosing a name
Even though it's not everything, the name you choose is going to be the identity of your business. You need to be extremely careful while choosing a name for your business. It’s the factor that will connect the customer with your brand.
Before you start preparing your logo, visiting cards, website, and social media accounts, think over your chosen name again and again. Try thinking from a customer’s point of view. Just ask yourself if you would like this name if you were a customer. If the answer is affirmative, then go ahead with the rest of the procedure.
Try to pronounce your company’s name as well. If it seems catchy and you can get used to it, then you are on the right track.
Create an Image of your brand
Once you are ready with all the essential points, you should now focus on the image of your brand. There will be lots of pictures that you are going to use throughout your branding process. Various illustrations are going to be used for your logo, website, social media accounts etc.
If you are a newcomer in business and don't have any knowledge of how it's done, take the help of professionals. They will guide you through the process.
So, these were some of the branding ideas that will make your business grow. If you follow through the steps, you will get the best results. And if you are stuck somewhere don't hesitate to seek the help of a professional.