A highly developed brand is a tremendous asset for any business. This is especially true for ones involved in highly competitive markets. Look at many major Fortune500 companies such as Starbucks and Walmart. They all have well developed brands. Aspects that you should think about are the brand’s position, story, associations, personality and promise. Looking at these five things and fully developing them will allow you to have a powerhouse brand. Brand optimization is an art, here are some you should consider:
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Brand position is what differentiates you from the competition. Are you the cheapest seller or the high end provider? Perhaps the most convenient. You can’t choose everything. Articulate very clearly what your position is. You need rock solid conviction on where you brand stands.
Especially for consumer-facing businesses, a good story can really sell products. It builds trust. Consumers are tired of dealing with faceless corporations. Having a good story allows your business have a more personal touch and human feel to it.
Associations, such as your logo and imagery, are very important, too. Make sure that everything fits together and that they are not dated. Perhaps you should meet with a design firm to update your styles.
Personality is very important as well. Are you serious professionals, or a fun hippie brand? Once again, this needs to be articulated and built upon. Think of five adjectives to describe you brand.
Brand promise, on the other hand, is an extension of your company’s positioning. It is your brand’s guarantee and commitment to deliver to your audience. Choosing the right words encourages potential consumers to buy and your existing customers to remain loyal.
Sources
Ten Ways to Build a Brand for Your Small Business, The Marketing Donut
The Marketer’s Guide to Developing a Strong Corporate and Brand Identity, HubSpot