Every startup aspires to become a renowned group brand, but only some manage to survive beyond 2 years. Even fewer go on to cement their status. The reason is simple, brands aren't built, overnight billionaires. It is easier to make money out of your startup than to build its identity. To build a brand, you must first know what a brand is.
According to you, a brand is a popular name on which goods and services are sold, and that with time, companies eventually become a brand. Another definition may be of an organization that sells a given product and has a symbol/logo in conjunction with a name. Well, a brand is way more than just a name and the simple textbook meanings mentioned above. To achieve the coveted status of a brand in the market, you need to think beyond ordinary. It doesn't mean you mimicry what big brands do right away but do what the big shots did before becoming a household brand name. There is nothing like building a brand that customers love because it attests to a sense of attachment and fulfillment when people are satisfied with your product or service. Here’s a list of ideas to achieve popularity and love amongst customers while building a formidable brand.
Pay Attention To Your Business
You need to carve a unique identification of the brand for your product or service. Don’t engage deeply in one segment while ignoring others. Putting more into marketing and image building but less in sales or vice versa has pessimistic effects. No company focuses on branding first and sales later. Selling your service should be at the top of one’s priority pass list. Provide the best to your customers. Likewise, not focusing on your strategies also leads to problems. Heed to all aspects of your brand.
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Be Prepared Always
"Give me six hours to chop down a tree and I will spend the first four sharpening the ax, " these words by Abraham Lincoln summarize the secret to crafting a successful brand. This simply means to prepare yourself and work smarter instead of harder. It is the quality of a product or service which differentiates a good brand from an average brand, a great one from a good one. Customers trust a brand based on its offering’s quality.
To become a prodigy name, businesses must consider three elements: past, present and future. The first two elements must be used to craft strategies for the future. They need to keep themselves prepared for the worst. Whether it is the threat of a new competitor in the market or drastic action changes in the fundamental concept, brands revered by customers work on all possible scenarios and rebound no matter how severe the situation may be. A brand is thus the result of constant efforts and betterment applied over time and this makes it a preference for customers.
Exceptional Customer Service
The key is to keep customers happy and content. An organization needs to build a loyal customer base that comes back to them each time. Such customers can even increase your brand publicity through word of mouth, forming a good image of you and a prodigy brand identity. Make your customers feel valued; be it in the form of a gift, a monetary incentive or some other add on. This way, your business enters the list of their all-time favorite.
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Understand Your Brand’s Soul
A brand is more than a company—it is an emotion, a feeling. You must have seen people talking about certain products with very high involvement. Women showing off their Gucci bags and kids flaunting their Air Jordans. Endorsing a brand gives them a feeling of standing out from the crowd. Your brand should have a meaning for you as well as its customers. This ultimately becomes the core of your functioning circuit. The crux of your business should be loud and clear. A tagline with a logo is the best way to represent it. It exudes your concept and shows the spirit of doing the business. An example is Nike's 'Just do it', which promotes the spirit of confidence. Any athlete is likely to buy a Nike product since the brand is strongly linked to sportsmanship qualities.
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Your brand must possess authenticity. Originality is a differentiator. Don’t imitate existing, successful brands word-to-word. You may borrow an idea or two but some aspects should set you apart. Straightforward mimicry is harmful, and customers are quick to judge such steps taken by companies. This also portrays your brand as hostile and fearful of the competition act.
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It may sound weird since branded products are all high priced but this is when they are already established. They've been standing up to the reality of the expectations of their customers for a long time. To command, a high price for your products or services, start by becoming a brand that offers the best in quality at reasonable prices. Keeping lower margins, in the beginning, will increase your sales and with time, these can be adjusted with the rise in standards services.
It can be an enormous task to build a brand, but if you are passionate about your product and you, it becomes easier to convince people. Whatever you offer them, they have double to offer you. Credibility, authenticity check and quality lead you to unmatchable grounds of the market where everyone loves your brand. But for this, you need to love and live your brand.