BRAND BUILDING

Branding is a key defense against commoditization – a situation in which a company’s products and services become perceived by buyers as being interchangeable with those of other companies, so buying decisions become driven by price.

Branding – or “brand-building” – has become the El Dorado of corporate marketing departments, advertising agencies, design firms, and consultants. However, branding goes beyond an attitude, or a logo, or a slogan, or an advertising campaign. Branding is a long-term holding in which your marketing communications are relatively short-term investments. Your brand is a tangible corporate asset – an end toward which all your business efforts should work.

Branding your business You need to stand out from the herd when it comes to business. You need to be better, stronger and more adaptable than your competitors. You need to be eye-catching, fresh and hard to pass by. And if you have a brand you have an immediate advantage because you have a backbone, or a frame work, on which to hang your products.

A branded business carries with it an ideology. If people know the brand they know the company and what it stands for.

But what is a brand? A brand is the set of values, ideals, strengths and weaknesses that become tied to your business. A brand carries with it the power to inspire and influence your customers; it creates a set of subconscious associations in their minds and sets you apart from the herd.

Three steps for a successfull branding.

1)Look to your business mission statement and ask what it is that you want to promote. Of course you need to sell your product, you need to make money, but you also need to survive, and in order to do that you need to form an impression on your market.

2)Don’t copy your competitors, be original instead ­ look to companies that inspire you for inspiration.

3)Word of mouth is by far the most effective form of advertising. People ignore Pop-up windows, but they’ll listen to their best friend. If you provide a quality service people will recommend you.

4)Customers want quality. If you can provide quality at a decent price they will come back, inspiring customer loyalty is part of a strong brand identity.

While there are many things involved with branding your business, these simple steps should get you started, are not too expensive to implement as per PR and will greatly impact your business.