Building a Brand: How it Works

What are the difference between the shoes in the shop just down the street and the ones sold at Nike? Both serve the same purpose and both may as well have the same durability. However, the prices are as different as day and night, Nike costing more than the other. This is a reflection of a simple fact i.e. Nike does not sell only shoes; the price is more related to the brand that it has become than the products. similarly, numerous brands have changed the way we perceive different products and customers tend to associate brands with high-quality products or services. So, how is it that clients can rely on businesses solely by their name or logo and how do companies pull it off? Find the answers in our article and an execution plan:

What is a Brand?

In simple terms, it is the reputation and perceptions held by customers towards your business. Beyond the price tags and logos, businesses have worked strategically to achieve the prominence they have this day. A brand is built with a combination of your client’s trust and loyalty, quality of your products and services along with the power of your marketing team, which plays one of the most imperative roles. However, they are not the only factors put into play, the face of a brand is expressed through names, logos, fonts, and colors, which work as identifiers of that specific brand.

Brand Development:

Consistency in quality, marketing assets, and customer satisfaction is an ongoing process that has been named brand development. Most businesses consider brand development as a one-time short-run process which is a very huge misconception. Brand development is an ever-running marathon that you will have to keep running if you want your business to keep doing so. If you stop maintaining the standards that caught your customers in the first place, then you are guaranteed to lose them by losing your quality consistency!

How it is Done

1. Keep a Clear Vision:

Moving with a step by step plan and strategy helps your business keep a clear vision and make your targets easier to achieve. Build your brand with distinctiveness and creativity to help your business outshine all the others. Stand out among your competitors to get recognition from customers.

2. Keep Your Brand Focused:

Who are your target clients? What results can your products deliver to which clients? Your business cannot be everything for everyone, especially when it has just been born. It is easier and wiser to achieve one goal at a time and keep it continuous.

3. Know Your Competitors:

Keeping tabs on competitors is always what a wise business keeps in mind. To be aware of industry competitors does not mean being an imitation of them, however, they can offer great lessons and strategies to businesses that have just set out on their journey. Another reason for competitor research is to keep your products distinct from their business, brand, and logo, etc. so yours can be easily recognizable by customers.  

4. Know Your Customers:

What are the expectations of the customers from your products and what result do they hope to get out of your products? If your answers to these questions are as clear as the vision that you have, then your business is set on the course of becoming a brand.

Building a brand out of your business is something you cannot hope to achieve overnight, but by showing consistency in your improvements you can considerably reduce the time. Break your targets into smaller chunks and complete them one at a time and you will be there in no time!