Building a brand is a very challenging task for many companies. However, without an effective brand strategy, you will not be able to create your brand identity which is vital for growing your business. Brand identity is something companies repeatedly communicate and implement it in their numerous marketing strategies to achieve individual goals.
Before you start crafting your brand strategy, you will need to understand your primary target customer, your competition, product and service mix and, lastly, unique selling proposition. Without these marketing components, you will not be able to build your brand and communicate your brand identity effectively.
When you’ve covered these four components, you should start working on your brand strategy. In this article, we bring you seven steps you should cover to ensure you’re building your brand successfully.
1. Researching your audience and competitors
Who are your potential customers? Which competitors are your biggest threats? Answering these two questions will give you an idea of where you should place yourself in the market. To find the right answers which will provide value to your brand strategy, you can search Google to find your product or service category and see which brand names pop up. Social media is a great source of information where you can find various accounts, pages or people in your target market. There is plenty of information you can find online which saves time and money but also provides the most accurate, recent and largest data you can find.
2. Determining the brand’s focus and personality
Finding the focus of your brand will help you to communicate effectively with your target audience. So, what sentences would you use to explain the meaning and value of your brand? What do you offer and to whom? Your answer should give you a sense of your unique selling proposition. However, be careful with determining your unique selling proposition as it can have an enormous impact on your company. If done properly, your business can build a long tradition due to its effective brand strategy. With a clear focus and unique product, Hamilton watches have been on the market for 70 years now. Providing classic American style with Swiss watchmaking tradition for their customers, they’ve become a symbol fo excellent quality.
Here are a few ways to create the focus and personality of your brand:
- Write down the words that you associate with your brand
- Find all the benefits that your product provides to your target audience
- Write several adjectives that best describe your brand
- Think of metaphors or concepts that would explain your brand personality
3. Choosing a name for your business
Depending on the nature of your business, your name can be very or not so much important. The brand is really so much more than a name, but choosing the right name is a great start. Of course, everything else related to your business is what will give that name a meaning. Nevertheless, you shouldn’t pick any name that comes to your mind. The brand name is something that will be implemented on countless platforms. Here are several ideas that have proven to be very successful:
- Make up a word that doesn’t exist.
- Reframe an unrelated word.
- Choose a suggestive word or metaphor.
- Describe it literally.
- Use initials of a longer name.
- Combine words into one.
4. Picking brand colors and fonts
Now, it’s time to think about visual elements. What colors and typography do best represent your brand? Colors are so much more than just a touch of your brand’s look. They communicate feelings and convey messages to your target audience. If you’re uncertain in which direction you should go with brand colors, read a bit about color psychology which can help you understand which color corresponds with your brand identity. When it comes to typography, consider those fonts that will look good on your website. Also, don’t combine too many fonts as you will confuse your visitors. Try to stick with two fonts. Make sure these fonts are clear and easy to read so your existing and potential customers can easily absorb information.
5. Writing a slogan
Cathy slogans can add value to your brand identity. Just think of all these well-known brands and their slogans we all can’t forget. A slogan can be added to your website, social media accounts, email signatures, etc. However, it’s not that easy to come up with something catchy in just a few words, right? While keeping it short, ensure it makes a strong impression on your target audience. Here are a few ideas on how to craft your very own slogan:
- Create a metaphor
- Stake your claim
- Use your customers’ attitude
- Create a rhyme
6. Designing your logo
When talking about brand strategy, the logo is one of the first things most of us think about. It follows your business and is the most memorable part of your brand identity. You would want it to be unique, clear, memorable, and creative. Also, keep in mind all the places where you will need to add it. Having a too big logo or too many words in it will frustrate your target audience as they will not be able to see it clearly. One of the biggest mistakes companies make when they inserting their logo onto various platforms is using different variations of it. Try to be consistent.
Your brand strategy is actually never completed. Your brand should constantly be evolving as your business grows. There are so many other aspects of your brand that need your attention, such as website theme, customer service, and product shipping and packaging. Your brand should be implemented in every aspect of the business if you want customers to recognize it and respect it.