Business Branding for Success

Every successful entrepreneur and business has a BRAND, The one thing you must have if you want to be successful is branding that is consistent with you and your business.

Branding separates you from your competition and gives you credibility. It’s what makes people want to tell other people about you, and makes them want to invest and buy from you again and again. Without branding businesses cannot survive.

Your Visibility is more important than your ability. It is important to be visible. To increase your visibility Branding is important to the recognition of your business. People need to know who you are, remember you, preferred to buy from you and refer other people to you. See the following and you should aim for Brand Insistence and Brand Advocacy.

  1. Brand Awareness – they know your name
  2. Brand preference – prefer to use you when possible
  3. Brand insistence – will only buy your product or service
  4. Brand advocacy – they tell other people about you

Develop a strong Logo and a Slogan for your business using something that is memorable so people will remember the name.

It’s important to control your Brand. A lack of brand control is like having no-one at the steering wheel when driving, you need to control it.

1) Your Brand is whatever people’s first impression is of you.

2) It should be consistent

3) It should be congruent – everything in your business should be in line with your Brand

4) It creates loyal clients

5) It should make the clients feel they are getting value

6) It should invoke an emotional experience

7) It should be something people can relate to

Points your want you need to consider when branding

  1. Profitability – will it help you become profitable?
  2. Marketability – is it something you can Market
  3. Credibility – is it Credible
  4. Visability – how will you make it visible?
  5. Invisability – you need to ensure you stand out and you are not invisible
  6. Instability – does it invoke stability?

For long term Brand Equity consider the following:

  1. The money required to Brand you
  2. How to Brand yourself
  3. What to Brand
  4. Is it consistent and congruent with you and your business?
  5. When you look in the mirror is it something you can relate to

Considerations:

Personal Branding (remember it is a representation of yourself)

Brand Association (Brand your business so it is congruent with your personal Branding)

Brand Innovation (is it different and innovative)

Brand Credibility (is it credible so it is perceived as positive by your prospects)

Branding is difficult to do

Each time a client buys or invests in you, you have correctly branded yourself

Branding is a Creative Art

Branding requires presentation, persuasive selling and negotiation

When a person is branded they create their own mark

Analyzing your prospective clients motivation to buy is key to building your Brand

Branding by message control – Be sure that you control the message you are putting out.

Company Branding – Getting Started

In a competitive market place, the importance of developing your company brand should not be underestimated. Your brand is like the face of your company; it communicates your company’s values to consumers and promotes a recognisable identity that allows people to make an instant connection with your product or service.

Why is it so important?

Branding is the quickest way to communicate your company’s message to customers. Getting your brand design right can express the values of your business simply and effectively and allow people to make an instant connection between your brand and your business.

Implementing the correct branding strategy can also contribute to the credibility of your business. It’s important to recognise that business credibility cannot be achieved overnight, it is a gradual process of attaining and maintaining excellent customer service and delivering what your customers want. As your company becomes more established within the marketplace, however, your brand will provide a clear association with your company’s products and values, and will help to really cement your business in the consciousness of your target customers.

Good branding can create a bond between your business and your customers; if people can identify with a brand they are more likely to stay faithful to it. It is not unrealistic to state that effective branding generates an emotional response from customers, a sense of involvement and identification with a product or ideal. Capture the imagination of your target group with your brand and you will undoubtedly add to your customers.

Successful branding is more than customers recognising a logo. As you develop your brand and customers choose to invest in it, your brand will become synonymous with the distinctive qualities that will make your business stand out from the competition.

The Benefits of Creating a Strong Brand

A strong brand identity can influence the consumer to choose your products (or services) over those of your competitors. Once your brand is established and trusted in the minds of those consumers they are more likely to buy other products from the same brand with confidence, often at a premium. This process is crucial to success; as you continue to raise the profile of your brand and establish consumer confidence, the brand becomes more important than the product as the consumer becomes loyal to the brand. Creating and developing your brand, therefore, is not about making a sale but about leaving consumers with a clear and lasting impression of your company, your products and your values.

Where to Begin

Your company values are integral to developing your brand identity and the best place to begin a successful branding campaign is by identifying what you consider to be your company’s strengths. These could include things like excellent value for money, the ability to meet deadlines or outstanding customer service. The important thing about identifying your brand values is that those values are relevant to your target client group. If, for example, you work as a mobile hairdresser and your client group is predominantly pensioners, it would be more sensible for your brand values to reflect friendly customer service and affordability rather than cutting-edge, high fashion styling techniques. Whatever you identify as your company values, it’s essential that you deliver on them consistently.

Global Branding is here to Stay

In the 1980s and 90s, Korean companies were not known for their marketing prowess. They were manufacturing focused and their products were often seen as low quality, or “me-too” items. Further, their marketing efforts were not coordinated globally and often focused on sub-brands in overseas markets that were created with the goal of tailoring the product offering and positioning to local market needs.

Today, the major Korean companies – particularly Samsung, LG, and Hyundai – are marketing (and in many cases market) leaders. They have leading, high quality products and marketing programs that are consistent and compelling globally. And perhaps most importantly, they have made the case for the global brands more convincing than ever.

Korean companies are not the only ones to successfully implement global branding. Google, Nike, and McDonald’s are just a few examples of companies that have built global brands. However, starting with Samsung in the early 2000s, Korean companies showed clearly the benefits that can be reaped by consolidating marketing initiatives and spending towards one global or umbrella brand, as opposed to implementing fragmented local efforts.

Of course, the most important part of building a respected brand is offering compelling products, which Korean companies did through concerted efforts to improve the quality and innovation of the products they offered. Armed with these products, Korean companies then spent billions of dollars to build their brands – awareness and image – on a global basis.

As a result, today these companies are winning in a big way. Market share, revenues, and profits are at all time highs. The brands are household names well beyond the Korean borders.

It all makes sense of course. For years, I have worked with companies struggling with the global vs. local brand dilemma. In many cases, a local market leader had a sub-brand or even another brand that he or she believed should be used instead of the parent brand. The reasoning was always the same – there is some brand awareness of the local brand, or sub-brand, that would be lost should the focus go to the global brand and the local brand be eliminated, the local brand was more suited to the consumer needs in the target market, and it would be more effective to spend the small, local marketing budget on the local brand, as opposed to the unknown global brand. I have always had difficulty with this logic and believe Korean companies have clearly made the case as to why the global brand should instead be the priority.

At the core of the argument for the global brand is economics. Samsung spent billions of dollars building the Samsung brand over the last decade. Had Samsung instead broken up its brand portfolio and spent a portion of these billions on sub-brands in different markets, it is highly unlikely that this spending would have had the same impact – and it may have confused the consumer, who now travels globally and accesses TV, internet and other media content on a global basis. By focusing on building one brand name consistently, Samsung and the other Korean companies have been able to make tremendous progress in a short time in building their brands worldwide.