You’ve surely heard the following before: “You have to brand your business to stand any chance of success in today’s competitive marketplace.” Or something like this: “You need a brand that weaves your multi-marketing channels together, creating a cohesive and consistent presence that consumers come to recognize and trust.”
It’s all true. But that doesn’t clarify which branding elements and strategies your business needs. And the term branding, when used singularly, only serves to confuse things further. However, everything becomes crystal clear when you understand what makes the branding engine run.
Let’s take a look at the 8 principles of branding that every business should adhere.
Before you can build a brand, you must understand your audience, what they care about, their values, likes, dislikes, pain points, and how they’ll benefit from using your product or service.
When you understand your audience, you can ensure what you sell and the content you produce to promote it consistently resonates with them. Resulting in a conversion boost and improved customer loyalty.
Tips to understand your audience:
In today’s ultra-competitive business environment, you have to identify what makes you different from your brand competitors to create a sustainable advantage.
Your brand differentiator could be a unique aspect or feature or a specific benefit your product or service brings to the marketplace that sets you apart from your competitors. And the more you have, the better your competitive advantage will be.
Brand differentiator tips:
It takes more than a collection of attractive brand elements such as color, fonts, and tone of voice to create a successful brand. One of the key principles of branding is establish a rock-solid brand definition first.
Defining your brand helps you connect with your target audience on a more personal level. And once defined, you can convey your brand’s deeper purpose by infusing it with your values, personality, and identity.
How to define your brand:
What you see is what you get. And the impression viewers get when they see your visual identity often determines how they’ll feel about your brand.
Visual identity describes everything your target audience sees, including product images, infographics, a logo, and your website’s layout and interior design. And it’s the imagery you choose that helps differentiate your brand from the competition and convey your unique message to consumers.
Developing a brand style guide that you and others can use helps ensure your visual identity stays consistent and relative to your brand values and consumer needs, where ever it’s used.
The elements of visual identity:
With over 543,000 new businesses opening every month, you can’t build a brand and expect consumers to find you.
And as every brand wants to reach as large an audience as possible, marketing competition is fierce. So, it makes sense to say, the higher the percentage of consumers that learn about your brand, the better your chance of standing out from the crowd. A solid brand strategy is thus one of the key principles of branding.
A brand strategy that uses a multi-channel marketing approach can help you find those consumers.
Brand strategy tips:
Once your brand strategies are active, you must audit it now and then to ensure it’s working.
A brand audit involves running a detailed analysis of your brand’s overall performance, with the results informing you of how efficiently your brand’s performing in your marketplace. Highlighting your strengths and weaknesses. And whether you’re on target for reaching your goals.
Culminating in the course of action, ensuring you continually align your brand and marketing strategies with your consumers.
Brand auditing tips:
Consistency creates trust, and consumers need to trust a brand before they’ll buy from them. One survey showed that “81 percent of consumers said they need to trust a brand to buy from them” (Edelman, 2019).
Consumers will begin to recognize your brand when your marketing strategy consistently presents a cohesive message, using a similar voice, visuals, color palette, and style on all your platforms. And that creates trust through repeated recognition, helping you stand out from your competitors.
Monitoring and brand auditing are two different things, but both help ensure your branding and marketing efforts pay off and both are principles of branding every business should adhere.
Brand monitoring involves tracking numerous marketing channels to discover where and what people are saying about you. The information you’ll gather informs you of how consumers perceive your brand, telling you if your branding efforts are on track.
It also provides you with valuable audience feedback, ensuring you’re aware of any negative criticisms, enabling you to respond before they go viral.
Brand monitoring tips:
You can’t be everywhere or monitor every brand mention; it’s simply not sustainable and will overwhelm you with data. Instead, monitor the channels you’re actively using to promote your brand. And select one or two that are proven to be a hotbed for gossip.
Prioritize your main channels:
Branding can be a tricky thing. By following these 8 principles of branding, you have taken the first key steps to a success story. However, make sure that in everything you do, in all tips and strategies you follow, you pay attention to what your specific business needs. Taking the principles of branding and adjusting them to your specific needs will make you stand out in today’s competitive marketplace.
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