Vardhan World Startup Entrepreneurship course: What is Branding?
The process of building a presence in the minds of customers is called Branding. This is essentially building a brand. The brand is the unique identity of your company, product or service. This unique identity has to be one that is positive and motivates the customer to engage with it repeatedly.
Branding can be done both online and offline. The different modes or aspects of branding are Logo design, taglines, color and style themes, and tone of voice. However, consistency in the different aspects of your brand over all media is of prime importance. This consistency creates an overall experience that becomes the major draw toward your Brand.
So why is it so important?
Establishes Uniqueness: In a market filled with competitive products, it creates a way of distinguishing your brand from others. Your Brand identity makes you unique and helps the customer to tell your brand apart from the rest.
Provide Advertising: Promoting your Brand is vital. Having an established Brand identity provides a much needed boost to your advertising and marketing efforts.
Helps customers remember the Brand: When a customer interacts with a Brand, they absorb the entire experience, and if that has been a positive one, the customer is bound to remember the Brand and hence become a repeat customer and also spread the good word about the Brand.
Creates an Employer Brand: When your brand gains good mileage in the market, your customer base gets bigger. With this increases the size of your company. It is an established fact that employees prefer working for well-known companies or brands.
Now that we know why let’s find out how to build a Brand.
Ascertain your target audience and understand them: Your product or service could be the best in the business, but if you are not selling it to the right customers, then you will never achieve your business goals. Create a buyer persona to help you understand the customer and conduct a complete cognitive analysis. This will help you design your product, brand and also market it the right way.
Form your mission statement: Establish why your brand exists. Clearly define its purpose and what it is aiming to accomplish. When the customer connects with your mission statement, they automatically become a part of your journey as a brand.
Outline what defines your Brand: Have a clear perspective of what makes your brand unique among a multitude of other brands. Identify the qualities your brand has, and others don’t and make those qualities your feature. Earmark those qualities that will enrich your customer’s experience.
Work on the visual aspect of your Brand: The Logo design, color palette, styling, website design, fonts, and other such visual components are all a part of the visual aspect of your Brand. People are attracted by visual appeal. A hallmark color or style increases the chances of your brand being noticed by more than 80%.
Voice and Tone of the Brand: When communicating with customers via any channel, ensure that the tone of your message stays consistent. Email communication, advertisements, blogs, social media posts, etc., must convey all messages in the same tone. This helps maintain the uniformity of the Brand across all channels.
Apply contemporary tactics and Polish your game plan at every opportunity: Evolving and staying ahead of the game is vital. Branding in a dynamic market requires attention to detail. Developing your Brand can employ everything from using a personalized approach toward a customer to building return and shipping policies. However, all this should be done in keeping with the promise made in your mission statement.
Creating a Brand requires building a relationship with your customers. Remember, the market is already filled with other brands in the same niche as yours, so the customers already have many alternatives to choose from. Your Brand identity can set you apart and be the motivation for the customer to choose you.
Branding for Startups is a monumental task, especially if you are new to the market. At Vardhan World, we offer Startup Entrepreneurship courses that will prepare you for successfully launching yourself and sailing through the advancement of your business.