Advertising is only a small part of what it takes to bring a brand to life. Effective branding is about staking claim to a space in the market, carving out more market share and producing tangible results. Branding is vital to keeping your company alive.
More than ever, now is the time to focus on branding to stay in front of your audience and develop new business leads. Here are ten steps to build and reinforce your brand:
1. Determine what it takes to reach your business goals
Gather your executive team and clearly determine what you’re trying to accomplish. Are you trying to drive revenue, launch a new product or service, gain market share or generate more leads? Whatever your plan to take your company to the next level, set your goals in stone and put together a plan to reach them.
2. Get to know your competition
There’s an old saying, “Keep your friends close and your enemies closer.” Scout the landscape and scrutinise your competition. You must fully understand who owns what space in your marketplace and truly identify where you stand. Be realistic about what your company is up against.
3. Separate yourself
After maximising your knowledge on the external realities of your business, turn the focus inward. Figure out why you’re better than the competition and focus on your target market. Make sure you grasp the real value of what you have to offer and start to differentiate yourself.
Don’t settle for saying: “We provide great service; we offer the best experience; we have the best people.” Every company in the world says these things. Understand your true differentiators, based on the space you desire to own. Determine the true value that your product or service brings and the unique reasons why you really are better.
4. Forge your brand
Package your company and your product or service offerings in a way that attracts attention and generates some sex appeal for the targets you’re trying to reach. Envision your brand’s look and feel and what it should stand for. Make sure the values that really separate you are clear, concise and easy to understand. Make sure that the execution of your creative strategy stands out from the crowd and elevates your company’s brand as the true leader in your space.
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