What is branding? Branding your business is simply communicating your identity. Branding your business depends on everything from your company name to your products and even your logo. In essence, everything about your business says something about who you are, and what you stand for. Sending the wrong message could confuse or alienate your potential customers; every visible aspect of your company should work together to present the core values of your business.
Before you can present this identity, you must define it. The identity of your business depends greatly on the answers to several key questions. These questions can be divided into four categories:
1. Know Yourself – What are your core values?
Every business has a set of values that govern the way they operate. Whether your company is in business to make the world a better place, to build the best products or simply to earn the highest profit possible, your core values all revolve around and support this mission.
2. Know your Customer – Who are they?
Once you have determined your core values, you need to think about how to communicate those values to your customers. The message and media you employ depend greatly on who and where your customers are. Communicating your message is useless if your target market is not receiving the message.
3. Know How You Benefit Your Customer – What can you do for your customer that no one else can?
For just about every product and service imaginable, your customers can choose from multiple suppliers. Whether it is price, quality, style or attitude, you must give your customers something that no one else can. If your customers like what you have to offer, they will return to your business; these repeat customers are crucial to the long-term survival of your business.
4. Know What Makes You Different – How do you stand out?
If you do not believe that there is anything special about your business, your customers will not believe it either. If your business is simply one of many apparently equivalent choices, your customers have no reason to seek you out. Find or create something that makes your business stand out in the crowd.
Once you create an identity for your business, you can focus your marketing efforts on the right message and audience. Define your identity today to succeed tomorrow.