It takes five to seven impressions before brand awareness starts to grow. Meanwhile, consistency and repetition are key if you want to develop recognition. Without a distinct brand, you could fail to stand out from the competition.
With a distinct brand, you can grow your business and get leagues ahead of the competition. Why? A 2% increase in customer retention could reduce costs by as much as 10%. Plus loyalty is worth up to ten times more than just one purchase!
Want to develop a strong branding strategy? Keep reading to discover everything you need! With this guide, you can develop a wow-worthy brand and set your business up for success.
Read on to learn more.
What is Branding?
First, let’s answer the question that’s likely on your mind: what is branding, exactly?
Your brand is a combination of elements that can set your business apart from others. These elements can include your:
- Company name
When you build your brand, it’s important to envision how customers perceive the core message of your company. When a customer interacts with your business, they should see elements like colors and fonts which are consistent throughout every single branding element.
A strong understanding of what makes people want to buy from you is crucial in order for them to connect with their target audience.
The Benefits of a Strong Brand
Branding is the key to success in an ever-changing world. Without a recognizable logo, consumers will struggle to remember you and your company’s mission statement.
A brand can be used as a tool for marketing that helps draw people into purchasing decisions or engagement with your organization through its consistent use of design.
Branding becomes more important when it comes time to define who you are within your industry because branding both defines how others see us but also shapes what we see ourselves–within our work environment and beyond!
Here are a few benefits of having a strong business brand.
Gain Recognition and Loyalty
Consumers aren’t likely to choose your business if they don’t know who you are. Why should they choose you over another business? What value can you offer them?
Your brand will help you stand out. It can give you an identity beyond your product or service. Instead, your brand can work as the heart of your business.
Brands can help a business stand out in today’s world. They are the first thing people think of when they need your product or service, and that means you’ll be able to connect with customers more easily than before!
Over time, brand loyalty could grow from this exposure. This is just one way that brands make it easier for businesses nowadays—the ROI on boosting sales through loyal customers will improve as well.
What sets you apart from the competition? What can you offer that no one else can? You can communicate your unique value through your brand.
Business branding can help small businesses look like big corporations, too. You can position yourself as a thought leader in your industry and gain more credibility. Consumers might feel more inclined to choose you as a result.
Make a Strong Impression
Almost 50% of consumers are likely to become loyal to a brand during the first purchase. First impressions matter! With a brand strategy, you can make a strong first impression with your customers.
Your brand is judged in a matter of milliseconds. Your first impression could be the difference between consumers wanting to buy from you or not, so it’s important that your logos are aesthetically sound and well-designed.
Creating Your Brand
Now that you understand the importance of business branding, let’s discuss how branding works. Here are a few elements you’ll need when crafting your brand.
Understand Your Audience
Brands that don’t resonate with their customers are doomed to fail. These businesses will struggle to appeal and therefore be unable to build trust or loyalty, which is necessary for any brand success.
You can learn more about your customers using target market research. Picture your ideal customer. Then, determine their psychographics and demographics, including:
- Pain points
- Buying behaviors
- Needs versus wants
- Household income
- Marital status
Are you targeting a broad audience? Segment your customers into smaller buyer personas. Personas can help you better understand each group you’re targeting.
Pinpoint Your Mission
Why are you creating your business? Understanding the purpose of your business will help you draft your mission statement.
If you can’t communicate the purpose of your business, consumers might struggle to see the value you offer. What need are you fulfilling? How are you making the customer’s life easier?
Outline Your Unique Value
Keep your company one step ahead of the competition. Find a way to distinguish yourself so that you can stand out from competitors and appeal to potential customers – it’s important for consumers who need motivation in choosing between two similar products!
Determine Your Personality
When developing your business branding, imagine a real person. What does that person sound like? How would a conversation with them go?
Voice, tone, and personality are all important brand elements you’ll need to consider. Otherwise, your brand might come off as robotic. Consumers might struggle to connect with your brand as a result.
Instead, take a look at your customers. How do they speak and act? What type of person does your ideal customer trust?
Then, craft your brand personality with those elements in mind.
Remember, you’ll use your business brand on your website, in blog posts, and on social media. Crafting a unique brand personality will help people connect with your audience. They’ll learn to recognize your voice and tone in every post.
In fact, they might even look forward to your posts in the future.
Develop Your Visual Assets
You should be able to spot your logo from a mile away! Start by choosing fonts, colors, and other design elements that match the personality you created.
For business professionals, for example, this means avoiding quirky fonts or neon colors. Instead use brand color schemes, typefaces, and other features that fit into their work setting seamlessly.
Then, you can start infusing your brand within your content.
Once you start developing the components of your brand, it’s time to put it to work. Here are some branding strategy tips that can help your business grow!
Keep It Consistent
Make sure your brand remains consistent across all marketing channels. Presenting a consistent brand can increase revenue by up to 23%. Otherwise, you could risk confusing customers.
Consumers might visit your website and fail to associate you with the rest of your branding. They will struggle to build brand awareness if they don’t know about other parts of it, such as social media or a physical store.
This is because not everyone visits all these places in order for them to learn everything there is about their favorite brands! To keep things consistent from logo colors down through font type, create guidelines so that every member on the team knows what’s best-looking according to company standards.
Once you develop your business branding, update it across all marketing channels, including your:
- Social media accounts
- Print materials (letterhead, business cards, flyers, billboards, etc.)
- Pay-per-click advertising
- Email marketing
- Content creation
If you’re switching before an old and new brand, make sure to replace everything at once. Remember, you don’t want to risk confusing customers.
How will you communicate your brand through your other digital marketing strategies?
Use your brand across your lead generation strategies.
For example, you can create a pay-per-click (PPC) advertising campaign with eye-catching visual ads. As people see your ads online, brand awareness and recognition can grow. Then, you can direct people to your website to learn more about your business.
Consider sending out an email to your subscribers to let them know you have a new brand, too. Invite them to share their thoughts. Don’t forget to link them to your updated website.
If you want to boost your brand awareness, consider sending out an email newsletter to let them know about some new branding opportunities.
Invite them into a dialogue by asking for their opinions and linking the website so they can see what’s going on! Start creating high-quality content in order to maximize conversions with informative blog posts that are relevant to your customers’ needs.
As you use these branding tips, make sure to avoid imitating your competitors. Focus on the unique value you can offer. Otherwise, you’ll struggle to differentiate yourself from the pack.
Successful Business Branding: How to Stand Out From the Competition
To find success in business, don’t fall into the crowd. Instead, use these tips for developing a stand-out brand that will help you to highlight your unique value and draw in new customers!
With this strategy down pat (and our expert assistance!), before long you’ll see an improvement on ROI as well.
Need help developing a strategy for success? We can lend a hand!
Request a proposal from our digital marketing team today to get started.