Brand plays vital role in any business or venture. It's a psychological perception factor that helps in creating about company, product & idea. What is Branding? Branding is a perception an individual gets of the product or a company as they receive it. It is the way they believe, feel and think about a particular company, product, organization, etc. It gives an impression about the way the person thinks about that product, company, organization. In other words, it affects their belief and will therefore guide him to take certain decisions about buying, selling, investing etc. Brand gives an illusion about company, product, organization & people. When they receive and feel good from your product, they will also spread word about it, and all kinds of media will become aware of it. When someone associates your product with something positive like courage, passion, determination, etc., it also makes your product more desirable. Why is branding important for your business? Your brand is a way to communicate your individual character, qualities & image to the world. According to the research done, the effectiveness of brand value can be influenced by cultural, economic, political, technological, and even demographic characteristics. Brand strategy is a form of internal marketing. It covers a broad set of audience development strategies and involves identification of customers, assets, and resources, brand positioning, imagery and advertising to emphasize a company's image. You can apply different tactics, like product differentiation, negotiation and positioning, to achieve its goals. Why Is Brand Strategy Important For Marketing & Business? To help the customers to remember your product and to attract potential customers, you need branding strategies. Ways to brand your business When talking about branding, there are so many important factors that need to be taken care of, including marketing, store design, packaging, and many more. But, today, let's discuss the 5 most important elements of brand to help you build a better brand for your business. In terms of deliverables, each element of branding requires a great deal of focus and planning. To properly brand, you should consider what makes your business unique and impactful to your customers. Then consider how you will position yourself within the market and connect with them on a human level. Consider who your ideal customer is and how you can best connect with them and entice them to share their content with you. Finally, think about the purpose of your brand in terms of how you and your customers perceive it and what it stands for. Once you have decided on this, the remainder is all about developing the actual branding components. Brand Promise You’re probably not too happy if people stop you in the street and ask if you sell pens. However, it is that very interaction with a passerby, or a prospective customer that reinforces your brand promise, and creates awareness and recognition for your business. A promise is what differentiates your brand from others in your category, in turn generating sales. It also builds a brand’s credibility and perception. It is therefore essential to understand and communicate what you are promising your customer and the means of fulfilling this promise. Positioning and Geography Your brand should ideally speak to the location or geographical location of the potential client. For example, if you sell adverts in the back of magazines, your positioning is probably magazine. Brand Position Positioning your brand is key to consumer engagement and it’s one of the most important ways in which you can use your brand to make a positive impact on the market. In order to achieve that, you must be clear on your positioning, or “signals” and what you want your brand to communicate to the consumer. A classic example of this would be IBM – a big name that people associate with reliability, which means they tend to trust IBM as a brand and therefore are willing to pay more for its products. Conversely, if you brand yourself as a price conscious alternative to IBM then the consumers will interpret you as having a lower-quality product. Brand Personality Traits According to The Science of Personality, the traits are: Physical looks/Appearance Willingness to get close Receptive Generous Accepting Manners/Behavior Whether you are a natural-born leader or whether you're new to the game, people want to get to know you. Your face says a lot about you, and it's important that you know your brand personality. My advice: include personality traits in your brand story. If you want to make sure you've aligned your brand's personality with the way your customers see you, make sure your brand story is personable and relatable. This is how your customers will start relating to your brand. Position If your brand is still to be launched, then it's too early to discuss positioning. Brand Story Your story is the narrative that you use to engage with others and convey your brand values to them. You will be able to tell your story best when you really know who you are and where you are coming from. A story can be summed up in a sentence that is sure to bring about an emotional reaction in your audience. Brand Associations There are lots of physical artefacts that make up your brand. That includes your logo, name, colours, fonts, image tagline and more. Your brand promise and traits must be reflected through these things - for instance, your logo should be modern and classy! Conclusion In this fast paced world we don't have time to understand the impact of these factors on the client's perception & branding. We are so much addicted to Google results and FB likes. Plagiarism and email spam have became an everyday nuisance, so it's time to switch to branding. Let's go back to basics. A logo is an overall symbol of your brand. It has the name, the company's mascot and characteristics of the product. If you own a restaurant, for instance, you have food, business, consumer and consumer buying power. Just make the logo bigger and you have a brand. You need to develop a theme that will allow your customers and clients to make a conscious choice to buy from you or use your product. In other words, you need to develop a unique brand that stands out from the others.
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