Owning a business is easy, but devising survival strategies is one crucial element. To keep a business running, every business owner tries to maintain at least a no profit, no loss window. And it is only promising when you get a good number of customers to balance the cash outflux and influx. The marketing campaigns that we see this year are way different than they were a decade ago. The marketing sphere is clamoring with continuous noise. The business charts are changing every instant, and we see many brands grabbing the spotlight.
Businesses are not only competing with the ones that are similar but also fighting to get the customer’s attention. If you aspire your business to stand out and visible to people, you will need to build a brand. Branding is just like that lighthouse in the ocean, whose presence is visible from a distance. In the marketing sphere, branding has become the need of the hour. Creating a brand identity does not mean to have a logo only. A brand identity is visual, emotional, and it communicates on your behalf with the customers. While building your brand identity, your perseverance and the will to keep going is directly proportional to the existence of your brand.
Strong branding can do wonders; it can get people to think about you upon seeing a particular shape or make them go humming your tune. Creating a brand for your business takes years of effort and keeping every detail in mind. Many companies take baby steps to let people know that they exist. They often launch their promotional products to grab the attention of the customers and persuade them to enter their shop.
Branding today is more like a competition of creativity and effective tactics. Are you thinking of building a brand for your business? The following are a few dos and don’ts that you shall consider while creating your brand identity.
- KEEPING IT SIMPLE
While creating your brand logo or name, do not go for the complexities. No one is going to like it if it’s not catchy and complicated to understand. When we hear or read Amazon or Nike, we can envision their brand log and recall their tag line within a nanosecond. The simpler a brand logo is, the more it is easy to remember. The taglines that we reflect on our favorite brands revolve around their core values of the business. It represents what they do and let people know why they are unique. Following the simplicity and keeping core values intact, your brand identity will start getting apparent.
- BEING FLEXIBLE AND ADAPTABLE
You cannot fix a two-pin switch in a three-hole socket. To convert your business into a brand, it will need to analyze the market trends to stay relevant. Many brands were on the brink of ending, but they rebranded themselves and are still there. McDonald’s is a junk food joint, but it is still there besides the healthy food trends because it adapted to those trends. Adaptability and flexibility are the keys to creating your brand. If a market trend changes and you are still following the old methods and pattern, it will soon lead your brand to vanish instead of getting more evident. Keep your plans and strategies flexible to accommodate new changes.
- EXHIBITING EMPATHY AND SUPPORT
Being a brand does not mean focusing only on revenue and profit. The year 2020 is already facing a lot of challenges due to the pandemic. While you are branding for your business, incorporate some strategies to display your support for health workers. Adapting to positive actions sends a positive message to the customers and associates a good memory with your brand.
- SAY NO TO SHORT TERM GOALS
The marketing and business sphere is always booming with new trends, but it will be wise not to jump on those trends. Take some to analyze the movement, the response it receives from people. Customers are the key factor in deciding if a product or a trend will last until the first batch or years. Remember that you aim to have a brand identity that will stay even if the trends running today might vanish tomorrow. Do not set your brand for short term goals; instead, focus and follow the style that can yield a long term goal. Before you opt to adapt to a hot trend, analyze the cons of how it can affect your brand messaging, miscommunicate to the consumers, or affect your brand image.
- DO NOT WAIT TO REBRAND
The secret to successful branding lies in its ability to how quickly it rebrands. We all remember yahoo, but it is nowhere today. When the internet was changing its pace, many brands were waiting for the right time for rebranding. Those brands that were adapting to current changes are now leading markets and still going strong. Rebranding is essential to keep your customers engaged and incorporating new changes. Many brands fail to survive as they do not adapt to changes and follow the same pattern. If you want to appeal a new demographic, shake an old image, or adjust to a new marketing trend, then wait not to rebrand, get on it.
- DO NOT OVERSELL
Remember the feeling when your phone tings with emails from the same brand daily? At one point, you start getting annoyed by those emails, and you unsubscribe that brand’s newsletter. These frequent emails or messages fall under the category of overselling or spamming consumers. While publishing your brand’s story on your website, do not circle it towards your brand only. It will make it appear like you are emphasizing or overselling it. Overselling or spending your cash on stuff to promote your brand sends a negative message to the investors about your existence. Your purpose is to attract investors through your brand instead of shooing them away.
CONCLUSION
An average person spends hours surfing through social media and scrolling through ads. If they are appealing and exciting, it might get their attention. However, boring trends and lousy branding strategies will lead the user to ignore the ads on their newsfeed. A study says that if a brand fails to add value to consumers’ lives, it won’t bother them if 77% of brands vanish forever. Brand identity has a significant connection with its consumers. If a customer feels that a brand understands what they want and how they want it, they are most likely to revisit and recommend others. Strong branding can let your business boom and enjoy the spotlight forever.
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