Brand Building: A Strategy To Accelerate Your Start Up
Brand building can gear up one’s start up company to a new level leading it towards success. Branding is crucial for one’s company because it is the visual identity of his/her business and, if done properly, it gives your business not just a name, but a voice and encourages consumer awareness about the business as brand building gives a complete visionary of your business to all the people who are attached to it by any means.
By Pallabi Ghatak
"Your brand is what other people say about you when you are not in the room." Having a successful brand is one of the most important assets of your business.
In this way, it can be said that brand building is an important strategy in the overall business development as it gives a complete visionary about your work, company, and the values attached to it, making your consumers and the people who are connected to your company loyal and confident and creating an awareness of your brand in the market.
WHAT IS BRAND BUILDING: This is the primary stage for any entrepreneur to consider the business having an identity that must be started from day zero. Branding, by definition, is a marketing practice which is not only about creating a name, symbol, design, or logo but also about attaching the values of your business which makes your company stand out and easily identifiable and distinguishable from the competitors and clarifies, what it is, you offer that makes you the better choice.
Branding is important because not only it is what makes a memorable impression on consumers but it also allows your customers and clients to know what to expect from your company. Your brand is built to be a true representation of an identity of who you are as a business and how you wish to be perceived.
WHY BRAND CREATING IS IMPORTANT:-
- Communicates A Clear Vision: Branding clearly portrays a definite vision in the market and in the minds of the people regarding the company's position in the business world and its aims and objectives.
- Increases Business Value: A strongly established brand can increase a business's value by giving the company more leverage in the industry making it a more appealing investment opportunity. Branding comes with morale that uplifts the spirits of the people attached to it.
- Generates New Customers: Consumers, customers, potential clients, investors, and employees tend to go for the strong and well-known brands as it comes with security, trust, assurance, familiarity, good values, and morals.
- Supports Advertising: Branding is not advertising but advertising is a component to branding as it directly reflects the brand's desired portrayal. Outstanding Branding makes it easy to create a cohesive and appealing advertising strategy that plays well into branding goals.
- Develops A Strategic Marketing Plan: In developing a strategic marketing plan, branding serves as a guide to understand the purpose of your business, key objectives and enables you to align the plan with those objectives which create consumers' loyalty as well as help you to meet customers' satisfaction and to better consumers' experience in different ways.
- Articulates Unity And Consistency: Branding links your name, logo, online presence, products/services, and appeals to the masses making marketing skills consistent and content across all channels that bring a united and clear message to all.
- Provides Competitive Advantage: Brand building strategy helps to figure out the remarkable differences and attributes as compared to its rivals and contemporaries in the market and the entire process facilitates gaining a competitive advantage.
THE STEPS OF BUILDING BRAND PROCESS:
- Clarify what you do- potential investors need to understand your proposition.
- Define the target audience.
- Research competitor brands within your industry.
- Work on the brand mission.
- Create value propositions.
- Outline the key qualities and benefits that your brand offers.
- Form your unique brand voice.
- Work on the brand guidelines.
- Create a unique, understandable, and relevant brand logo, tagline, and other elements.
- Outline the remarkable qualities and benefits of the brand.
- Market your brand.
- Be your brand's biggest advocate.
It is important for the management to stay true to the brand-building promise and be the biggest advocate of the brand by endorsing it at each step. Branding is a time-energy-patience consuming ongoing process, just like raising a child which is needed to be fitted with the evolving taste of the market. Remember, "A brand is a voice and a product is a souvenir."
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