Branding Your Business

Branding Your Business   

What is a Brand?

A brand can be an identification, mark or value that differentiates one business from another such as a name or a logo, for example. It also portrays how people think about your business and can influence their buying habits. This article explores the importance of branding and a few simple ways to implement branding within your business.

Brands are based on three related criteria as detailed below

1. Confidence that a business, product or service is doing exactly what the customer already believes it will do.

2. The emotional response of the customer to purchasing your product or service.

3. Consistently rewarding the confidence and delivering the expected emotional response.

Benefits of  Branding

Branding can help increase turnover by encouraging customer acquisition and loyalty and is particularly useful if you want to add value to your business.  Successful brands can make businesses more attractive to potential buyers or franchisees.

First Steps in Branding

Before you develop your brand identity, you have to assess your business.  This involves looking at the core competencies, especially addressing existing and potential customers' likes and dislikes.

The next step in the process should be to define your brand identity.

1. Decide who you want to lead the process.

2. Discuss your core competencies and brand values with employees and customers.

3. Note your agreed core competencies and brand values, making sure that none of them conflicts with your brand stature.

Once you have worked out your core competencies, brand values, perceived quality and brand stretch, you can communicate them to your customers.

Build the message into everything your customer or potential customer sees and hears before they have any direct contact with your business. Make sure your staff understand the brand values and believe in them.

Review your systems and make sure every point of contact that a customer or potential customer has reflects your brand values.

Managing the Brand

A brand will not work instantly. It will develop strength over time as long as your business consistently communicates and delivers your brand values to customers.

1 Keep all your staff involved in your brand and your business.

2 Monitor your customers' response to the brand regularly and continually review how your brand values are communicated.

3 Once the brand is developed within your own business and your existing customers, you can use it to attract new customers.

Extending the Brand

A successful brand can offer opportunities for a business to grow. However, if you are introducing new products or services, you must make sure they are consistent with your existing brand values.

If your new products or services remain within your core competencies but not your brand values, you need to brand separately

Golden Rules

Be focused on your customers' needs, remaining true to the brand identity.

Do everything you can to make sure that the brand message is delivered consistently.

Keep your staff involved with your brand.

This article is written by Maureen Clarke, Business & Youth Coach, Striding Out.

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