Ken Carbone of the Carbone Smolan Agency says, a “brand is the magnet that draws consumers to…products or service.” Launching a corporate website is just not enough for building a brand. Truly successful branding needs something more. The first and foremost among them is your marketing strategy. To develop a marketing strategy, a business must be well aware of the market/markets it’s operating in. A business owner must know and understand the culture, values and mindset of his customers before working on his marketing plan and subsequently on his brand. Following are a few tips that can help an entrepreneur develop his own brand and avoid any pitfalls on his way:
Understanding customer’s behavior
Customers of a particular geography can have certain buying preferences but that can never be universal. So before you start a business make sure that you understand the customers of your business geographies. Start observing customer’s behavior even before you have actually started your business. This will help you in the development of your brand because good brands are built from day one of your business.
Positioning is important
True branding means looking at your competitors and then taking a deep introspection to find out your competitive edge. Try to find out more about your competitors. There may be companies outside the US. Find all the companies that provide similar product and services. Look at their brands. A logo and a tag line alone can never be your brand. Your customers must be able to relate themselves with the brand. Then only a brand becomes a success. So there should be a strong correlation between your brand and what you do. It does not necessarily need to be explicit all the time but the actual essence of a brand should be the essence of your business.
Translate your brand
Translate your brand in all the local languages of the geographies your business serve. This is necessary obviously because of local influences and preferences. Before you launch your brand try translating it in all the local languages of the geographies where you are aiming to serve customers. Otherwise, you might have a risk of negative impact on your business.
Keep space for growth
Every business aims to grow. When you are building a business remember that you can include new products and service in the course of time and your brand should be able to reflect your new products/services as well. Businesses always evolve. For example, Apple has changed quite a bit and their brand has been successful in reflecting all its new products and services. While branding you obviously have to consider your market, product and service, but at the same time, you should also consider your corporate ethics and beliefs. It is equally important to show these qualities through a brand.
Choose right business partners
Work with a good designing firm or a consultant to develop a brand. You can obviously share your observation and feedback with them. Once you have a brand for your business, it’s time for you to work with a good attorney to protect the intellectual rights of a brand.
Kevin John is a Specialist in Marketing and Client Satisfaction at iTeleCenter, a virtual phone system for small businesses. He has written about business, real estate and lifestyle for more than two decades.
