How to Build a Brand That Matters
Entrepreneurs start businesses for many varied reasons including freedom, better lifestyle, more wealth etc. Few start with a vision to build a brand that matters, and it usually those that exponentially grow and flourish. Building a brand takes phenomenal efforts and planning and is always time consuming. The choice between strategic brand building & daily operational & tactical tasks often challenges even the best of leaders repeatedly.
Entrepreneurs also faces challenges of resources, both manpower & financial to invest across the board in brand building. Efficient, effective and prioritized brand building with a strong foundation of values and principles will ensure that your brand outlives you.
The most important aspect before building your brand is to be sure what the brand stands for and what your vision for the brand is. Stronger the vision, stronger the brand will eventually be. An ethical, moral & environmental firm has a better chance at building and retain brand value. 45% of a brand's image can be attributed to what it says and how it says it. Corporate social responsibility, is deemed important among millennials, with 48 percent of this cohort admitting to supporting brands "that are active in supporting social causes" according to a recent BCG study.
Learn & Plan
Always be open to learning from industry experts on the best ways to build your brand. Before anyone sees your brand for the first time you need to be sure that you have got it right. 48% of consumers said that the most critical time to gain their loyalty is when they make their first purchase or begin service, hence all the more important to ensure that your first impression is the best impression.
The most often debated topic in most "brand meetings" in whether you go all out in a small time or you stagger your brand building equally in smaller quantities. This is a decision each leader has to make based on their market conditions and vision. In today's digital world, 80% of consumers are more likely to evaluate solutions from the brands they follow on social channels. Whatever decision you take and plans you make, ensure you stick to it.
Connect with your customer
Customers cite shared values as the main reason they have a relationship with a brand. Being consistent & connected to your customer throughout the lifecycle of the brand is key to effective brand building. One must never confuse the customer with varied communication and values.
Digital & Social Connect
It is extremely important to make sure your social media presence has been optimized. Social media is a two ways communication medium which is public and can have viral implications. Brands must ensure that their online presence is completely in sync with their vision & offline communications.
Most importantly, you need to offer incentives and reward people to your brand loyalists. This is the best way to grow your brand identity and improve the image. You may offer a discount or special deal to every new follower on social media. It will encourage people to follow your business, and even helps in building long lasting relationships. For existing followers, you can organize contests and reward winners.
In tough, competitive times, it has become extremely important to interact with your audience in numerous ways. You also need to focus on feedback to make certain changes and modify your marketing campaigns. The above mentioned tips can help you build a huge brand to promote your products and services, while generating more revenue.