The most important thing for a brand is brand recognition, it increases the whole brand experience. Successful brands are always recognized throughout the world. Brand recognition is when people can recognize your brand by a specific identifying characteristic of your company. A company’s success is proven by brand recognition; when people are able to identify or recognize your firm through visuals (logo, colors, slogans) or auditory without hearing the company’s name. It takes years for a company to get that brands recognition, it is not a one-day journey.
All brands with brand recognition are successful, in order to get that success, you need to plan a strategy most compatible with your brand. This strategy will carry the weight of building consumer trust, loyalty and also make sure your brand outshines other competitors in the market. Building the right brand strategy is not revolved around one factor, instead there are a lot of different things that you need to keep in mind when building the right strategy for your business as it can be the reason for your success and downfall.
Establishing the Brand’s Purpose
Every successful brand has a purpose attached to their company, which is significant for its identity. This mission statement is crucial for the core principles of your organization and is also important for the broader goals of the company. When you start a business, it is not solely to make money; it is also about changing the world or giving out something special. A well-defined purpose is responsible for the long-term goal of the company. If you are confused or puzzled about the objective of your company, answer these questions.
What is the purpose of your brand?
What are you offering your consumers?
Is your brand, in any way, making the world a better place?
Your brand’s goal should not be just a meaningless sentence, instead it should be precise, timeless, easy to understand and should show how passionate the company is. Every brand should have a mission statement.
Target Audience
Target audience is very important when deciding brand strategy. They are the specific group of people who have the most interest in your business. Make sure to have a good understanding of them, if you don’t; market research can be utilised. Other ways could be by understanding what you offer or by analysing your competitors. If you target a group of people, you can reach the right people; most interested in your business. Collecting demographic data has proven to be a great way to identifying target audience, this includes age, occupation, education, income, marital status, goals, hobbies, and habits of the consumers.
Strategic Competitor Analysis
A competitor analysis can come in handy when choosing the right brand strategy. A competitor analysis is when you analyze different aspects like market trends, customer preferences, competitor strengths and weaknesses, pricing strategies, industry dynamics, market penetration, market development, product development, and diversification. You can start by making a list of all your competitors, which includes companies with products or services like yours. This can include rival companies and even those that indirectly affect your market. Pay attention to your rival’s brand’s personality and their visuals.
Unique Selling Point (USP)
The USP is the aspect that makes your product different from others. What is that you provide your customer’s with that no other companies can? Come up with something that attracts clients automatically. Provide your customer base something other’s can’t. Once you can decide what your unique selling point is going to be, you can design your strategy according to it; make sure your marketing campaigns or advertisements always highlight your unique selling point in order to receive the best response from the customers.
Visual Identity
The first thing people see is a brand’s visual identity, is it visually appealing, catchy, memorable? You need to have a strong visual identity; attention to detail must be provided to the colour scheme, typography, logo and imagery. This is the foundation of a brand strategy and requires the utmost attention.
You must design a logo that clearly states your business’s identity and speaks about its personality. Make sure to design something that is memorable and customers have a hard time forgetting; something catchy. Use colour psychology and theory to your advantage, in a way that attracts and relates to your target audience. When choosing the font, make sure it is readable in order to leave a presence.
Convey a Strong Message
Your unique selling point, brand’s mission and value will be communicated to the target audience through brand messaging; so, make sure to create a brand message that includes slogans and taglines that capture the soul of the brand. The right brand message can improve brand recognition and growth. Let’s give you an example; Just do it. You got that right, Nike; see you didn’t even need us to say anything more. That is how powerful the right brand message can be.
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