Other companies that have strong brands include Google, Microsoft and Amazon. Does YOUR company have a strong brand? What do your customers think when they think of your brand? What do you want that to be? A strong brand builds customer loyalty and trust, leading to more sales. Customers know what to expect from a company and trust that it will provide excellent products and service. Your brand represents you and your promise to your customer. They know you will provide a solution to their problem or need. Here are some characteristics of a successful brand:
Everything you do should be consistent with your brand. When you are consistent, it shows that you are reliable, which in turn helps to establish credibility.
Your brand should set you apart from everyone else. What makes you different from the others? Find your unique product, service or selling point (i.e. For every pair of TOMS shoes sold, the company donates a free pair to a needy child.)
We are creatures of habit. Picture grocery shopping and going down the cereal aisle and trying to decide which brand to buy. “Snap, Crackle, Pop”! You reach for Rice Krispies because you are familiar with the brand and can count on it being good.
Change is inevitable. To stay relevant, your brand must evolve and adapt. Apple is a good example of a company that changed to maintain its relevance. Once just a computer company, it is now a consumer electronics giant (iPads, watches, smartphones and more!).
Define your brand personality so that your values align with those of your consumers, who are more likely to purchase if they share the same beliefs. Your brand’s attributes, values, personality, and messaging should resonate with your target market.
You can’t compete with everyone, and you don’t have to. But you should know your competition and understand and clearly communicate what differentiates you from them. Never become complacent when it comes to delivering on the value your brand provides. Having a strong brand is important, especially for small businesses who compete with larger companies or those with bigger budgets. A strong brand can help small businesses stand out in a crowded market and help establish credibility and trust with customers. When customers trust a brand, they are more likely to stay loyal and become brand advocates, generating strong word-of-mouth marketing, and boosting sales. Need insights & expertise to build your brand platform? The branding & marketing pros at HIG can help!