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1.0 What is a brand?
Brands can be defined in two ways. Firstly, a brand can be an identification or a mark that differentiates one business from another (through a name or a logo, for example). Secondly, a brand symbolises how people think about your business.Building a brand helps customers in their decision-making, creating a perceived knowledge of what they are going to buy - before they buy it. Brands are based on three related criteria.
Confidence in a business, product or service doing exactly what the customer already believes it will do. For example, a 24-hour convenience store brand can be based on customers' confidence that it will be open, whatever the time of day or night.The emotional response of the customer to purchasing a product or service. For example, a clothing retailer can create a brand based around making its customers feel good about what they wear, how they look, how good they feel about buying clothes from that shop and what it says about them to their peers.( Josephine Collins,(March 2008)
A brand builds a unique personality for a business, and therefore attracts a defined type of customer.Most importantly, branding is based on consistently rewarding the confidence and delivering the expected emotional response. For example, a domestic cleaning company can build its brand successfully if customers' homes are always thoroughly cleaned, the owners believe that they are using the best cleaning company and feel good about returning to their newly cleaned homes. Your brand can cover your business as a whole or separate products and services. (Josephine Collins,(March 2008)
When starting your own business, one of your most important concerns is to develop your company's face to the world. This is your brand. It is the company's name, how that name is visually expressed through a logo, and how that name and logo extend throughout an organization's communications. A brand is also how the company is perceived by its customers - the associations and inherent value they place on your business.
A brand is also a kind of promise. It is a set of fundamental principles as understood by anyone who comes into contact with a company. A brand is an organization's "reason for being"; it is how that reason.( Josephine Collins (March 2008)
is expressed through the various communications to its key audiences, including customers, shareholders, employees, and analysts. A brand should also represent the desired attributes of a company's products, services, and initiatives.
Apple's brand is a great example. The Apple logo is clean, elegant, and easily implemented. Notice that the company has altered the use of the apple logo from rainbow-striped to monochromatic. In this way they keep their brand and signal in a new era for their expansive enterprise. Think about how you've seen the brand in advertising, trade shows, packaging, product design, and so on. It's distinctive and it all adds up to a particular promise. The Apple brand stands for quality of design and ease of use.
Brand is a big buzzword in today's market, but what exactly does it mean? Simply defined, is the brand essence and purpose of what your business stands in the minds of your customers, that they thought what they purchase, both tangible (physical) and intangible (subtleties and feelings ).For example, Nike products provides sports physical. Nike also "selling" speed, fitness, strength, and style.
The brand is not accident, you should deliberately Show&Tell the public what you want them to know and remember about your business unique.
Branding is the action of transferring the brand to target market and create emotional tie to your unique product or service. Branding attract, satisfy and retains customers. Nike work through their consistent visual, logos and slogans determined using well-known athletes as spokespeople for the transfer of non-tangible of their brand.
The brand is important because it solves a problem for consumers. The brand helps them to choose that product or service quality, safety, or function cannot be complete until after the purchase is made is identified. Branding builds trust although cannot remove some risk, especially when doing business with big corporations located outside a local geographic area (credit card companies, broker, online shopping).
Without brand name, products and services easily be compared with each other, any financial institution, insurance representative mix, chocolate bar, coffee, beans, and athletic shoes will be indistinguishable from another, even if in reality a big difference in quality, price, taste, and service can exist.
The Logic behind branding is very simple: If your target market is familiar with your brand and good imagination, they more likely to purchase products and services. But consumers do not know what your business is all about unless you tell them!
Is your company branded? If a distinct graphic, slogan, or feeling doesn't emerge when buyers hear or see your company name, the brand of your business has yet to be defined and developed. Customers must clearly understand and agree with the nature, character and purpose of your product or service before they'll buy it. And how they know if you don't inform them? Hire a professional graphic designer, copywriter, advertising agency to help create and promote your brand of.
It's never too late to embark on your own branding campaign, regardless of size and age of your business. Creating a successful brand takes deliberate thought and execution, but the sooner you start, the faster the results you see on your bottom line. Here's how to start:
* Who you are defines what you offer, your method of business, their audiences, and why customers should believe in your products and services is placed.
* The transfer decision and its recognition of all other companies with strong reference image, logo, typeface, colors, slogan, jingle, theme, or tagline. For best results, work with professional skill in graphic design and copywriting.
* Commit to consistently carry your brand through every aspect of your business- stationery, marketing materials, advertising, signage, product packaging, customer service, etc.
Invest in your brand is investing in the success of your company. Clearly know that you are and what you offer, then loudly and consistently portray the image with your target market. Brand of your business is a powerful asset, and therefore maximize its value!
In fact, a brand is mental real estate'. It's a set of expectations a company instills in its customers and prospects, as well as its employees, suppliers and competition. Further, it's a service/product or concept that's easily distinguishable from others. Most important, a brand should enhance how you communicate with customers. I believe that successful branding begins with the recognition that everything a company does/says must drive profits and increase value for the customer. Sounds easy. But what is the true value of branding initiatives (i.e., your ROI), and why invest time and money this seemingly non-revenue-generating activity? In truth, there are many rational reasons, including:
Market Differentiation (competitive advantage)
Customer buying preference (retain a positive impression)
Supports the highest possible tolerance to price (perceived value)
Increased cross-sales opportunities (better profit margins)
Better awareness and recognition (leadership in the market)
Investor confidence (plus employees and external alliances), etc.
Without question, successful branding initiatives can have immense payback and add genuine value to your company, whether new or well-established. However, your brand's success depends on an implementation strategy comprising four essential must' principals. It must be a genuine reflection on your core strengths-values-management commitments and align with your customers' values.
Your brand must also identify a unique position that clearly differentiates you from competitors. It must carry through every aspect of an organization, meaning you must articulate your brand identity into a series of actions, beliefs and tools. Finally, and perhaps most important, it must be consistent over time.
In every brand development process, we employ four distinct elements, each weighted equally. First, the Value Proposition; it defines the uniqueness you provide to customers. Brand Character Definition and Expression follows; the character of your brand must make sense to your most important customers (While your logo is part of your branding, other important elements include corporate identity, company boilerplate, and collateral materials such as brochures, ad templates, website identity, etc.) Next, Positioning Statements must express your place in the market to help suppliers, investors, customers and competitors understand your intent; these concepts often form a mission statement or a byline tagged to your company logo. And lastly, Key Messages must consistently communicate your chosen information; these must promote the brand intent and be consistently employed by the entire team.
Looking further, brand launch must comprise a continuous monitoring process to measure value over time to ensure maximum impact and benefit is being derived. This stage may also include press releases, promotional programs, presentation and memorable methods of reaching the marketplace.
It's accurate to conclude that your brand gives your company identity, character, presence in the market and, yes, even respect. There is substantial evidence that this structured process works, in both the short and long view. A brand grows successfully by leaving a lasting mental picture a positive mark upon everyone inside and outside your company. A true value picture like none other. As Rodney blurted out on stage at Dangerfields' that night years ago," Why am I sweating, I've got the job it's my Club".
Look after your club'; the benefits of a professionally developed and well managed brand could astound you.
1.1 Do I need a brand?
Every business has already got a brand, even if it doesn't treat it as one. Your customers (and potential customers) already have a perception of what your business means to them. Building a brand just means communicating your message to them more effectively so they immediately associate your business with their requirements. Brands can help increase turnover by encouraging customer loyalty and are particularly useful if you are in a fast-moving sector. If your business's environment changes rapidly, a brand provides reassurance to customers and encourages their loyalty.
If you operate in a crowded marketplace a brand can help you stand out. For example,
there are many kinds of adhesive tape, but there is only one Sellotape. If you have no other points of difference and when customers are confronted with a wide choice of comparable suppliers, they will always choose the brand they feel will suit them best. Your suitability for a customer is portrayed through your brand.
Moreover, if you want to add value to your business a successful brand can make businesses more attractive to potential buyers or franchisees.
1.2 Branding a Start up
For start-up and small businesses, branding often takes a backseat to all of the other considerations - such as funding and product development. This is unfortunate, for a company's brand can be vital to its success. Dollar for dollar, it is as important and needed as any other start-up activity.
Recently, a software management company, temporarily named TallyUp, invested in a branding assignment. Its flagship product, a software suite that tracks and runs bonus incentive plans, needed a clear identity and platform to appeal to its target audience - primarily financial executives. The name TallyUp, while somewhat descriptive, didn't capture the appropriate and required level of sophistication to attract the desired clientele. TallyUp retained a branding consulting company; they recommended the name Callidus, which is Latin for expert and skillful to effectively and in an instant communicate their position. While both names communicate a similar concept, the new one works on a completely different level. Callidus better suits the ideal position of the company.
Serial entrepreneurs have a great deal of wisdom to share about branding and positioning. You can gather additional useful advice on the challenge of brand development from someone like Thomas Burns, whose story is covered in our article, Building a Credible Brand for Your Small Business.
If you're concerned about the cost of brand development, take heart. While it's easy to spend a lot to create a brand, you don't have to. Read our article, How Much Does a Brand Cost? to understand the price range of brand development.
1.3 Creating a Brand
Once you have worked out your core competencies, brand values, perceived quality and brand stretch, you can communicate them to your customers. Build the message into everything your customer or potential customer sees and hears before they have any direct contact with your business. Make sure your company literature reflects your brand values. If necessary, redesign your logo and company stationery so it provides an immediate visual link to your brand values. (Kenneth A. Fox,Nov-Dec 2002)
For example, if speed is a brand value, add an indication of movement into your company's designs.Reconsider any advertising you may do. Is it in places that reflect your brand values?
Does the copy reflect your brand values?
Make sure your staff understand the brand values and believe in them. Your staff's attitude and behaviour will influence the success of your brand more than any promotional activity. Remember that if you make strong customer service a brand value, the brand is damaged if one customer feels that whoever they are talking to doesn't care about service. Review your systems and make sure every point of contact that a customer or potential customer has reflects your brand values. For example, if being friendly is one of your brand values, make sure anyone who answers the telephone or has direct contact with customers is friendly. (Kenneth A. Fox,Nov-Dec 2002)
1.4 How Much Does a Brand Cost?
How much you can expect to pay for the creation of your brand is the $64,000 question. The answer is that the fee doesn't have to be astronomical, but it can be depending on who you decide to do business with.
Creating a brand is often a classic case of getting what you pay for. Your cousin may create a name and commensurate logo (without applications like letterhead, signage and packaging) for $500, or you can pay an international identity and branding company $100,000. In theory, that $100,000 should by you higher quality images and plenty of targeted branding theory, but that isn't always the case. (Kenneth A. Fox,Nov-Dec 2002)
Our recommendation is that emerging companies look for an in-between solution. Look for a company that is experienced in branding small or start-up businesses, and that understands your timing and budget constraints. Reputable firms charge anywhere from $25,000 to $40,000 for a name and logo. You should be thrilled with the product and get terrific results from a firm in this range. (Michael Long et al,June 2007)
Before choosing a branding, naming or identity company, scrutinize its portfolio to make sure their style matches your tastes. Also, don't hesitate to ask for references-they should be proud to provide them. Call a couple of the references and find out whether they liked working with the firm.
Finally, remember that branding is a serious, long-term investment. If you're going after or have received outside financing, it should be a line item in your budget. Building a brand is a core business activity, as important as leasing office space, recruiting the right people and developing your product or service. (Michael Long et al,June 2007)
1.5 Finding the Right Branding Company
Companies that create branding and identity are often difficult to distinguish from graphic design firms, but how they go about creating your brand may be much different. There are several important steps to select the right company to help you to brand your new business.
First, ask your contacts which companies they know that specialize in branding. Conduct Internet searches for "naming" and "corporate identity" and "branding." Think extensively about what types of names and logos appeal to you. Research the firms that created the brands that you most admire. Be aware of the firms' creative styles. Choose a company with
a track record for unique and original names, not one that has a history of creating coined names. However, don't go with a highly creative firm if your constituency is very conservative and traditional. (Michael Long et al,June 2007)
Contact a handful of companies and take note of how quickly they get back to you. Do they seem motivated or preoccupied? Is the person who returns your call a partner or a sales representative? Meet with a few different companies and trust the chemistry. If it's there you will know it; if it's not, keep looking. Make sure that the person with whom you initially meet? usually a partner or owner - will do, or at least direct, the work. That way they will be personally motivated to produce results for you. (Michael Long et al,June 2007)
Ask each company about its process. How forthcoming are they? Are the representatives willing to talk about their procedures and the steps that they'll take to create your brand? Make sure you talk about money; they may ask you if you have a projected budget for this project. It's acceptable for them to ask, but it's also okay for you to hear first how much it will cost, without disclosing your budget. How quickly do they get back to you with a written proposal? If you agree on Tuesday to work with them and you haven't heard from them by the end of the week, this might not be a good sign. Again, be smart and go with your instincts.
2.0 Top Branding Mistakes
Branding, a commonly used term throughout the business world, essentially means to create an identifiable entity that makes a promise of value. It means that you have created a consciousness, an image, an awareness of your business. It is your company's personality. Numerous businesses try, but many fail at creating a successful brand. For more on the definition of a brand, read What Is a Brand?
Here are 10 of the most common mistakes:
1. Not thinking analytically. Too many companies think of branding as marketing or as having a catch phrase or a logo. It is more than simply vying for attention. A brand warrants attention on a consistent basis, represents something that your audience wants but does not get from your competitors. For example, it could be providing the best customer service in your industry - not just through your tagline or logo - by actually providing the best customer service in your industry.
2. Not maintaining your brand. Too often, in a shaky economy, businesses are quick to change or alter their identity. Too much of this confuses your steady customers. For guidance, think of big brands - Nike, for instance, has used "Just Do It" as a logo for years. One rule of thumb is that when you have become tired of your logo, tagline, and branding efforts, that's when they begin to sink in with customers.
3. Trying to appease everyone. You will never be able to brand yourself in such a way that everyone will like you. Typically the best you can do is to focus on the niche market for your product.
4. Not knowing who you really are. If you are not the fastest overnight delivery service in the world, do not profess to be. Too many business owners think that they are providing something that they don't. Know your strengths and weaknesses through honest analyses of what you do best.
5. Not fully committing to branding. Often business owners let the marketing and advertising department handle such things as "branding," while they work on sales and other important parts of the business. But sales and branding are tied together as integral aspects of your business. Many Fortune 500 companies are where they are today because smart branding made them household names.
6. Not sharing the joke. If only the people in your office get a joke, it is not going to play to a large audience. The same holds true for branding. If your campaign is created for you and not "them," your brand will not succeed.
7. Not having a dedicated marketing plan. Many companies come up with ideas to market themselves and establish a brand identity but have neither the resources nor a plan as to how they will reach their audience. You must have a well-thought out marketing plan in place before your branding strategy will work. For help putting together a marketing plan, see How to Build a Sound Marketing Plan for Your Business.
8. Using too much jargon. Business-to-business-based companies are most guilty of piling on the jargon. From benchmark to strategic partnering to value added, jargon does not benefit branding. If anything, it muddles your message.
9. Trying too hard to be different. Being different for the sake of being different is not branding. Yes, you will be noticed, but not necessarily in a way that increases sales.
10. Not knowing when you have got them. Companies that have succeeded in branding need to know when to stop establishing their brand and when to maintain that which they have established. Monitor the results of your branding campaign. If your small business is a local household word, you can spend more time maintaining your professional image.
2.1 First Steps for developing a brand
Before you develop your brand identity, you have to assess your business, how it operates and the messages that you want to - and are able to - deliver consistently to your customers. You must be realistic right from the start. There are five key areas to consider.
1. Work out your business, product or service's core competencies. These are what you achieve for your customer, not necessarily what you do. For example, a good wine shop's core competence is selling wine that its customers enjoy - not just selling wine.
2. Assess who your existing and potential customers are and find out what they like and what they don't. For example, if they are driven by competitive pricing, there is little point in you presenting yourself as a premium-price supplier of the same products offered by your competitors.
3. Find out how your customers and your employees feel about your business. Reliable? Caring? Cheap? Expensive? Luxurious? No-frills? Later in the process, these emotional responses (brand values) will form the basis of your brand message.
4. Define how favourably your business is viewed by customers and potential customers - this is your perceived quality. Do they trust your business, product or service? Do they know exactly what it does for them? What do they think of when your brand is mentioned to them? Low perceived quality will restrict or damage your business. High perceived quality gives you a platform to grow. (Stephen M. Wigley, et al,July 2005)
5. Consider how far you can develop your business with its current customer perception without moving away from your core competencies. The amount you can change your offer is your brand stretch. For example, a shop known for selling fresh sandwiches could also consider selling homemade cakes and biscuits without going outside its core competencies. But selling frozen ready meals too may stretch its brand too far. (Stephen M. Wigley, et al,July 2005)
2.2 Managing the Brand
A brand will not work instantly - it will develop strength over time as long as your business consistently communicates and delivers your brand values to customers. Keep all your staff involved in your brand and your business. As your staff will be responsible for delivering the brand, they all need to feel a part of it and believe in it. Discuss your brand values regularly with your staff so they are clear about them.(R.E. Rios et al,Jan 2009)
Encourage them to offer suggestions to improve your systems so the brand values can be more easily delivered. Monitor your customers' response to the brand regularly and continually review how your brand values are communicated to them. Get regular feedback from friendly customers and find out if what your business is doing for them matches the expectation your brand creates. Ask dissatisfied customers or former customers too - you learn useful lessons about your brand through honest criticism. (R.E. Rios et al,Jan 2009)
Regularly review your products, services and systems to make sure they efficiently back up your brand message. For example, if freshness is one of your brand values, are there ways you can deliver the product even more quickly?
Once the brand is developed within your own business and your existing customers, you can use it to attract new customers. Use your core competencies to show the benefits of your business to potential customers. Show what your business can do for them, not just what you do. Make sure every communication with potential customers is also consistent with your brand values. Advertisements and sales literature to potential customers must be visually and emotionally consistent with what you provide to existing customers.
2.3 Extending the Brand
A successful brand can offer opportunities for a business to grow. However, if you are introducing new products or services, you must make sure they are consistent with your existing brand values.
Stretching a brand too far reduces its strength and can damage it. If you are introducing new products or services, consider carefully if they fit with your core competencies and brand values. If they do, brand them in the same way as your existing products and services so they benefit from your existing branding. If they don't, you should consider branding them separately.
If your new products or services remain within your core competencies but not your brand values, you can consider a diffusion brand. A diffusion brand is a different message with its own identity tied to your existing brand. For example, an insurance company's core competence is getting things put right after they go wrong. If it introduces a new service that repairs items rather than pays for their replacement, it should be a diffusion brand: the Fixit Service from XYZ Insurance.
Remember that any problems with a diffusion brand will also damage your main brand, so treat the diffusion brand with similar care. If your new products or services fit neither your core competencies nor your brand values, you must brand them separately.
2.4 How Long Will My Brand Last?
Your brand should last as long as you want it to. Barring unforeseen circumstances, such as the sale of your company, a change in leadership, or a major shift in your audience or product offering, your brand is the most important and permanent manifestation of your company and its values. It used to be conventional wisdom that your brand should last 20 years. In the information age, that seems like a long time - and it is. (Tim Ambler et al,July 1996)
Your brand might not last that long because your company might change into something else in months, not years. Still, you shouldn't plan on changing your brand with any regularity. It takes discipline and vigilance to build and maintain a brand. You want it to work for you in the long haul. In time, it will assume a life of its own that transcends the company itself.
3.0 Conclusions
Having consider all the above mention results if a company wants to stand out in his field and make a distinction between themselves and their competitor there is no cast of shadow that they need a branding to explain an unusual line of business through which earn above average return other wise if they don't have a dedicated marketing plan they have to lose the market.As you learned you must have a well-thought out marketing plan in place before your branding strategy will work. As a result we found that branding is one of the undeniable segments of our business.
Brands can be defined in two ways. Firstly, a brand can be an identification or a mark that differentiates one business from another (through a name or a logo, for example). Secondly, a brand symbolises how people think about your business.Building a brand helps customers in their decision-making, creating a perceived knowledge of what they are going to buy - before they buy it. Brands are based on three related criteria.
Confidence in a business, product or service doing exactly what the customer already believes it will do. For example, a 24-hour convenience store brand can be based on customers' confidence that it will be open, whatever the time of day or night.The emotional response of the customer to purchasing a product or service. For example, a clothing retailer can create a brand based around making its customers feel good about what they wear, how they look, how good they feel about buying clothes from that shop and what it says about them to their peers.( Josephine Collins,(March 2008)
A brand builds a unique personality for a business, and therefore attracts a defined type of customer.Most importantly, branding is based on consistently rewarding the confidence and delivering the expected emotional response. For example, a domestic cleaning company can build its brand successfully if customers' homes are always thoroughly cleaned, the owners believe that they are using the best cleaning company and feel good about returning to their newly cleaned homes. Your brand can cover your business as a whole or separate products and services. (Josephine Collins,(March 2008)
When starting your own business, one of your most important concerns is to develop your company's face to the world. This is your brand. It is the company's name, how that name is visually expressed through a logo, and how that name and logo extend throughout an organization's communications. A brand is also how the company is perceived by its customers - the associations and inherent value they place on your business.
A brand is also a kind of promise. It is a set of fundamental principles as understood by anyone who comes into contact with a company. A brand is an organization's "reason for being"; it is how that reason.( Josephine Collins (March 2008)
is expressed through the various communications to its key audiences, including customers, shareholders, employees, and analysts. A brand should also represent the desired attributes of a company's products, services, and initiatives.
Apple's brand is a great example. The Apple logo is clean, elegant, and easily implemented. Notice that the company has altered the use of the apple logo from rainbow-striped to monochromatic. In this way they keep their brand and signal in a new era for their expansive enterprise. Think about how you've seen the brand in advertising, trade shows, packaging, product design, and so on. It's distinctive and it all adds up to a particular promise. The Apple brand stands for quality of design and ease of use.
Brand is a big buzzword in today's market, but what exactly does it mean? Simply defined, is the brand essence and purpose of what your business stands in the minds of your customers, that they thought what they purchase, both tangible (physical) and intangible (subtleties and feelings ).For example, Nike products provides sports physical. Nike also "selling" speed, fitness, strength, and style.
The brand is not accident, you should deliberately Show&Tell the public what you want them to know and remember about your business unique.
Branding is the action of transferring the brand to target market and create emotional tie to your unique product or service. Branding attract, satisfy and retains customers. Nike work through their consistent visual, logos and slogans determined using well-known athletes as spokespeople for the transfer of non-tangible of their brand.
The brand is important because it solves a problem for consumers. The brand helps them to choose that product or service quality, safety, or function cannot be complete until after the purchase is made is identified. Branding builds trust although cannot remove some risk, especially when doing business with big corporations located outside a local geographic area (credit card companies, broker, online shopping).
Without brand name, products and services easily be compared with each other, any financial institution, insurance representative mix, chocolate bar, coffee, beans, and athletic shoes will be indistinguishable from another, even if in reality a big difference in quality, price, taste, and service can exist.
The Logic behind branding is very simple: If your target market is familiar with your brand and good imagination, they more likely to purchase products and services. But consumers do not know what your business is all about unless you tell them!
Is your company branded? If a distinct graphic, slogan, or feeling doesn't emerge when buyers hear or see your company name, the brand of your business has yet to be defined and developed. Customers must clearly understand and agree with the nature, character and purpose of your product or service before they'll buy it. And how they know if you don't inform them? Hire a professional graphic designer, copywriter, advertising agency to help create and promote your brand of.
It's never too late to embark on your own branding campaign, regardless of size and age of your business. Creating a successful brand takes deliberate thought and execution, but the sooner you start, the faster the results you see on your bottom line. Here's how to start:
* Who you are defines what you offer, your method of business, their audiences, and why customers should believe in your products and services is placed.
* The transfer decision and its recognition of all other companies with strong reference image, logo, typeface, colors, slogan, jingle, theme, or tagline. For best results, work with professional skill in graphic design and copywriting.
* Commit to consistently carry your brand through every aspect of your business- stationery, marketing materials, advertising, signage, product packaging, customer service, etc.
Invest in your brand is investing in the success of your company. Clearly know that you are and what you offer, then loudly and consistently portray the image with your target market. Brand of your business is a powerful asset, and therefore maximize its value!
In fact, a brand is mental real estate'. It's a set of expectations a company instills in its customers and prospects, as well as its employees, suppliers and competition. Further, it's a service/product or concept that's easily distinguishable from others. Most important, a brand should enhance how you communicate with customers. I believe that successful branding begins with the recognition that everything a company does/says must drive profits and increase value for the customer. Sounds easy. But what is the true value of branding initiatives (i.e., your ROI), and why invest time and money this seemingly non-revenue-generating activity? In truth, there are many rational reasons, including:
Market Differentiation (competitive advantage)
Customer buying preference (retain a positive impression)
Supports the highest possible tolerance to price (perceived value)
Increased cross-sales opportunities (better profit margins)
Better awareness and recognition (leadership in the market)
Investor confidence (plus employees and external alliances), etc.
Without question, successful branding initiatives can have immense payback and add genuine value to your company, whether new or well-established. However, your brand's success depends on an implementation strategy comprising four essential must' principals. It must be a genuine reflection on your core strengths-values-management commitments and align with your customers' values.
Your brand must also identify a unique position that clearly differentiates you from competitors. It must carry through every aspect of an organization, meaning you must articulate your brand identity into a series of actions, beliefs and tools. Finally, and perhaps most important, it must be consistent over time.
In every brand development process, we employ four distinct elements, each weighted equally. First, the Value Proposition; it defines the uniqueness you provide to customers. Brand Character Definition and Expression follows; the character of your brand must make sense to your most important customers (While your logo is part of your branding, other important elements include corporate identity, company boilerplate, and collateral materials such as brochures, ad templates, website identity, etc.) Next, Positioning Statements must express your place in the market to help suppliers, investors, customers and competitors understand your intent; these concepts often form a mission statement or a byline tagged to your company logo. And lastly, Key Messages must consistently communicate your chosen information; these must promote the brand intent and be consistently employed by the entire team.
Looking further, brand launch must comprise a continuous monitoring process to measure value over time to ensure maximum impact and benefit is being derived. This stage may also include press releases, promotional programs, presentation and memorable methods of reaching the marketplace.
It's accurate to conclude that your brand gives your company identity, character, presence in the market and, yes, even respect. There is substantial evidence that this structured process works, in both the short and long view. A brand grows successfully by leaving a lasting mental picture a positive mark upon everyone inside and outside your company. A true value picture like none other. As Rodney blurted out on stage at Dangerfields' that night years ago," Why am I sweating, I've got the job it's my Club".
Look after your club'; the benefits of a professionally developed and well managed brand could astound you.
1.1 Do I need a brand?
Every business has already got a brand, even if it doesn't treat it as one. Your customers (and potential customers) already have a perception of what your business means to them. Building a brand just means communicating your message to them more effectively so they immediately associate your business with their requirements. Brands can help increase turnover by encouraging customer loyalty and are particularly useful if you are in a fast-moving sector. If your business's environment changes rapidly, a brand provides reassurance to customers and encourages their loyalty.
If you operate in a crowded marketplace a brand can help you stand out. For example,
there are many kinds of adhesive tape, but there is only one Sellotape. If you have no other points of difference and when customers are confronted with a wide choice of comparable suppliers, they will always choose the brand they feel will suit them best. Your suitability for a customer is portrayed through your brand.
Moreover, if you want to add value to your business a successful brand can make businesses more attractive to potential buyers or franchisees.
1.2 Branding a Start up
For start-up and small businesses, branding often takes a backseat to all of the other considerations - such as funding and product development. This is unfortunate, for a company's brand can be vital to its success. Dollar for dollar, it is as important and needed as any other start-up activity.
Recently, a software management company, temporarily named TallyUp, invested in a branding assignment. Its flagship product, a software suite that tracks and runs bonus incentive plans, needed a clear identity and platform to appeal to its target audience - primarily financial executives. The name TallyUp, while somewhat descriptive, didn't capture the appropriate and required level of sophistication to attract the desired clientele. TallyUp retained a branding consulting company; they recommended the name Callidus, which is Latin for expert and skillful to effectively and in an instant communicate their position. While both names communicate a similar concept, the new one works on a completely different level. Callidus better suits the ideal position of the company.
Serial entrepreneurs have a great deal of wisdom to share about branding and positioning. You can gather additional useful advice on the challenge of brand development from someone like Thomas Burns, whose story is covered in our article, Building a Credible Brand for Your Small Business.
If you're concerned about the cost of brand development, take heart. While it's easy to spend a lot to create a brand, you don't have to. Read our article, How Much Does a Brand Cost? to understand the price range of brand development.
1.3 Creating a Brand
Once you have worked out your core competencies, brand values, perceived quality and brand stretch, you can communicate them to your customers. Build the message into everything your customer or potential customer sees and hears before they have any direct contact with your business. Make sure your company literature reflects your brand values. If necessary, redesign your logo and company stationery so it provides an immediate visual link to your brand values. (Kenneth A. Fox,Nov-Dec 2002)
For example, if speed is a brand value, add an indication of movement into your company's designs.Reconsider any advertising you may do. Is it in places that reflect your brand values?
Does the copy reflect your brand values?
Make sure your staff understand the brand values and believe in them. Your staff's attitude and behaviour will influence the success of your brand more than any promotional activity. Remember that if you make strong customer service a brand value, the brand is damaged if one customer feels that whoever they are talking to doesn't care about service. Review your systems and make sure every point of contact that a customer or potential customer has reflects your brand values. For example, if being friendly is one of your brand values, make sure anyone who answers the telephone or has direct contact with customers is friendly. (Kenneth A. Fox,Nov-Dec 2002)
1.4 How Much Does a Brand Cost?
How much you can expect to pay for the creation of your brand is the $64,000 question. The answer is that the fee doesn't have to be astronomical, but it can be depending on who you decide to do business with.
Creating a brand is often a classic case of getting what you pay for. Your cousin may create a name and commensurate logo (without applications like letterhead, signage and packaging) for $500, or you can pay an international identity and branding company $100,000. In theory, that $100,000 should by you higher quality images and plenty of targeted branding theory, but that isn't always the case. (Kenneth A. Fox,Nov-Dec 2002)
Our recommendation is that emerging companies look for an in-between solution. Look for a company that is experienced in branding small or start-up businesses, and that understands your timing and budget constraints. Reputable firms charge anywhere from $25,000 to $40,000 for a name and logo. You should be thrilled with the product and get terrific results from a firm in this range. (Michael Long et al,June 2007)
Before choosing a branding, naming or identity company, scrutinize its portfolio to make sure their style matches your tastes. Also, don't hesitate to ask for references-they should be proud to provide them. Call a couple of the references and find out whether they liked working with the firm.
Finally, remember that branding is a serious, long-term investment. If you're going after or have received outside financing, it should be a line item in your budget. Building a brand is a core business activity, as important as leasing office space, recruiting the right people and developing your product or service. (Michael Long et al,June 2007)
1.5 Finding the Right Branding Company
Companies that create branding and identity are often difficult to distinguish from graphic design firms, but how they go about creating your brand may be much different. There are several important steps to select the right company to help you to brand your new business.
First, ask your contacts which companies they know that specialize in branding. Conduct Internet searches for "naming" and "corporate identity" and "branding." Think extensively about what types of names and logos appeal to you. Research the firms that created the brands that you most admire. Be aware of the firms' creative styles. Choose a company with
a track record for unique and original names, not one that has a history of creating coined names. However, don't go with a highly creative firm if your constituency is very conservative and traditional. (Michael Long et al,June 2007)
Contact a handful of companies and take note of how quickly they get back to you. Do they seem motivated or preoccupied? Is the person who returns your call a partner or a sales representative? Meet with a few different companies and trust the chemistry. If it's there you will know it; if it's not, keep looking. Make sure that the person with whom you initially meet? usually a partner or owner - will do, or at least direct, the work. That way they will be personally motivated to produce results for you. (Michael Long et al,June 2007)
Ask each company about its process. How forthcoming are they? Are the representatives willing to talk about their procedures and the steps that they'll take to create your brand? Make sure you talk about money; they may ask you if you have a projected budget for this project. It's acceptable for them to ask, but it's also okay for you to hear first how much it will cost, without disclosing your budget. How quickly do they get back to you with a written proposal? If you agree on Tuesday to work with them and you haven't heard from them by the end of the week, this might not be a good sign. Again, be smart and go with your instincts.
2.0 Top Branding Mistakes
Branding, a commonly used term throughout the business world, essentially means to create an identifiable entity that makes a promise of value. It means that you have created a consciousness, an image, an awareness of your business. It is your company's personality. Numerous businesses try, but many fail at creating a successful brand. For more on the definition of a brand, read What Is a Brand?
Here are 10 of the most common mistakes:
1. Not thinking analytically. Too many companies think of branding as marketing or as having a catch phrase or a logo. It is more than simply vying for attention. A brand warrants attention on a consistent basis, represents something that your audience wants but does not get from your competitors. For example, it could be providing the best customer service in your industry - not just through your tagline or logo - by actually providing the best customer service in your industry.
2. Not maintaining your brand. Too often, in a shaky economy, businesses are quick to change or alter their identity. Too much of this confuses your steady customers. For guidance, think of big brands - Nike, for instance, has used "Just Do It" as a logo for years. One rule of thumb is that when you have become tired of your logo, tagline, and branding efforts, that's when they begin to sink in with customers.
3. Trying to appease everyone. You will never be able to brand yourself in such a way that everyone will like you. Typically the best you can do is to focus on the niche market for your product.
4. Not knowing who you really are. If you are not the fastest overnight delivery service in the world, do not profess to be. Too many business owners think that they are providing something that they don't. Know your strengths and weaknesses through honest analyses of what you do best.
5. Not fully committing to branding. Often business owners let the marketing and advertising department handle such things as "branding," while they work on sales and other important parts of the business. But sales and branding are tied together as integral aspects of your business. Many Fortune 500 companies are where they are today because smart branding made them household names.
6. Not sharing the joke. If only the people in your office get a joke, it is not going to play to a large audience. The same holds true for branding. If your campaign is created for you and not "them," your brand will not succeed.
7. Not having a dedicated marketing plan. Many companies come up with ideas to market themselves and establish a brand identity but have neither the resources nor a plan as to how they will reach their audience. You must have a well-thought out marketing plan in place before your branding strategy will work. For help putting together a marketing plan, see How to Build a Sound Marketing Plan for Your Business.
8. Using too much jargon. Business-to-business-based companies are most guilty of piling on the jargon. From benchmark to strategic partnering to value added, jargon does not benefit branding. If anything, it muddles your message.
9. Trying too hard to be different. Being different for the sake of being different is not branding. Yes, you will be noticed, but not necessarily in a way that increases sales.
10. Not knowing when you have got them. Companies that have succeeded in branding need to know when to stop establishing their brand and when to maintain that which they have established. Monitor the results of your branding campaign. If your small business is a local household word, you can spend more time maintaining your professional image.
2.1 First Steps for developing a brand
Before you develop your brand identity, you have to assess your business, how it operates and the messages that you want to - and are able to - deliver consistently to your customers. You must be realistic right from the start. There are five key areas to consider.
1. Work out your business, product or service's core competencies. These are what you achieve for your customer, not necessarily what you do. For example, a good wine shop's core competence is selling wine that its customers enjoy - not just selling wine.
2. Assess who your existing and potential customers are and find out what they like and what they don't. For example, if they are driven by competitive pricing, there is little point in you presenting yourself as a premium-price supplier of the same products offered by your competitors.
3. Find out how your customers and your employees feel about your business. Reliable? Caring? Cheap? Expensive? Luxurious? No-frills? Later in the process, these emotional responses (brand values) will form the basis of your brand message.
4. Define how favourably your business is viewed by customers and potential customers - this is your perceived quality. Do they trust your business, product or service? Do they know exactly what it does for them? What do they think of when your brand is mentioned to them? Low perceived quality will restrict or damage your business. High perceived quality gives you a platform to grow. (Stephen M. Wigley, et al,July 2005)
5. Consider how far you can develop your business with its current customer perception without moving away from your core competencies. The amount you can change your offer is your brand stretch. For example, a shop known for selling fresh sandwiches could also consider selling homemade cakes and biscuits without going outside its core competencies. But selling frozen ready meals too may stretch its brand too far. (Stephen M. Wigley, et al,July 2005)
2.2 Managing the Brand
A brand will not work instantly - it will develop strength over time as long as your business consistently communicates and delivers your brand values to customers. Keep all your staff involved in your brand and your business. As your staff will be responsible for delivering the brand, they all need to feel a part of it and believe in it. Discuss your brand values regularly with your staff so they are clear about them.(R.E. Rios et al,Jan 2009)
Encourage them to offer suggestions to improve your systems so the brand values can be more easily delivered. Monitor your customers' response to the brand regularly and continually review how your brand values are communicated to them. Get regular feedback from friendly customers and find out if what your business is doing for them matches the expectation your brand creates. Ask dissatisfied customers or former customers too - you learn useful lessons about your brand through honest criticism. (R.E. Rios et al,Jan 2009)
Regularly review your products, services and systems to make sure they efficiently back up your brand message. For example, if freshness is one of your brand values, are there ways you can deliver the product even more quickly?
Once the brand is developed within your own business and your existing customers, you can use it to attract new customers. Use your core competencies to show the benefits of your business to potential customers. Show what your business can do for them, not just what you do. Make sure every communication with potential customers is also consistent with your brand values. Advertisements and sales literature to potential customers must be visually and emotionally consistent with what you provide to existing customers.
2.3 Extending the Brand
A successful brand can offer opportunities for a business to grow. However, if you are introducing new products or services, you must make sure they are consistent with your existing brand values.
Stretching a brand too far reduces its strength and can damage it. If you are introducing new products or services, consider carefully if they fit with your core competencies and brand values. If they do, brand them in the same way as your existing products and services so they benefit from your existing branding. If they don't, you should consider branding them separately.
If your new products or services remain within your core competencies but not your brand values, you can consider a diffusion brand. A diffusion brand is a different message with its own identity tied to your existing brand. For example, an insurance company's core competence is getting things put right after they go wrong. If it introduces a new service that repairs items rather than pays for their replacement, it should be a diffusion brand: the Fixit Service from XYZ Insurance.
Remember that any problems with a diffusion brand will also damage your main brand, so treat the diffusion brand with similar care. If your new products or services fit neither your core competencies nor your brand values, you must brand them separately.
2.4 How Long Will My Brand Last?
Your brand should last as long as you want it to. Barring unforeseen circumstances, such as the sale of your company, a change in leadership, or a major shift in your audience or product offering, your brand is the most important and permanent manifestation of your company and its values. It used to be conventional wisdom that your brand should last 20 years. In the information age, that seems like a long time - and it is. (Tim Ambler et al,July 1996)
Your brand might not last that long because your company might change into something else in months, not years. Still, you shouldn't plan on changing your brand with any regularity. It takes discipline and vigilance to build and maintain a brand. You want it to work for you in the long haul. In time, it will assume a life of its own that transcends the company itself.
3.0 Conclusions
Having consider all the above mention results if a company wants to stand out in his field and make a distinction between themselves and their competitor there is no cast of shadow that they need a branding to explain an unusual line of business through which earn above average return other wise if they don't have a dedicated marketing plan they have to lose the market.As you learned you must have a well-thought out marketing plan in place before your branding strategy will work. As a result we found that branding is one of the undeniable segments of our business.
References
1. Josephine Collins,(March 2008) Think global, act global: Global Brands Group has gone from a standing start in 2003 to today's international brand management business. Co-founder and co-chairman Jonathan Sieff tells License! Global how that has been achieved
2. Kenneth A. Fox,Journal of Business Strategy (Nov-Dec 2002) Brand naming challenges in the new millennium. (Brand Management).
3. Michael Long and Chris Czajkowski (June 2007); Brand management--consistency breeds success: brand development involves integrating all elements to create a consistent message that reaches the target consumer
4. R.E. Rios and H.E. Riquelme, (Jan 2009)Brand equity for online companies.
5. Stephen M. Wigley, Christopher M. Moore and Grete Birtwistle. (July 2005) Product and brand: critical success factors in the internationalisation of a fashion retailer.(Retail Insights: Papers from the 8th International Conference of the European Association for Education and Research in Consumer Distribution.
6. Tim Ambler and Chris Styles. Marketing Intelligence & Planning 14.n7 (July 1996); Brand development versus new product development: towards a process model of extension decisions.
1. Josephine Collins,(March 2008) Think global, act global: Global Brands Group has gone from a standing start in 2003 to today's international brand management business. Co-founder and co-chairman Jonathan Sieff tells License! Global how that has been achieved
2. Kenneth A. Fox,Journal of Business Strategy (Nov-Dec 2002) Brand naming challenges in the new millennium. (Brand Management).
3. Michael Long and Chris Czajkowski (June 2007); Brand management--consistency breeds success: brand development involves integrating all elements to create a consistent message that reaches the target consumer
4. R.E. Rios and H.E. Riquelme, (Jan 2009)Brand equity for online companies.
5. Stephen M. Wigley, Christopher M. Moore and Grete Birtwistle. (July 2005) Product and brand: critical success factors in the internationalisation of a fashion retailer.(Retail Insights: Papers from the 8th International Conference of the European Association for Education and Research in Consumer Distribution.
6. Tim Ambler and Chris Styles. Marketing Intelligence & Planning 14.n7 (July 1996); Brand development versus new product development: towards a process model of extension decisions.
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