Every successful company has a recognizable brand, such as McDonald’s, Coca-Cola and Nike. It is the branding that ensures a company stands out from their competitors, creating loyal customers who will return time after time.
In fact, one survey found that 59% of consumers prefer to buy new products from familiar brands. That’s why you must aim to differentiate your branding from your industry rivals.
Read the following five tips for building a strong brand identity.
1. Determine the Target Audience
Don’t waste your time, money and effort in trying to become all things to all people. Instead, you should try to build a brand that targets a select demographic. Identify who you are trying to reach, and customize your sales and marketing mission to their needs.
For instance, aim to identify their age, gender, location, online behaviors, lifestyle, income and interests. Are you targeting single moms who are running their own business or college students hoping to travel the world? Create a picture of your dream customer and create a brand identity to match, so they will relate to your business, products and services.
2. Create a Mission Statement
Consumers are looking for brands they can trust 100%. That’s why it is essential to sit down and create a mission statement, which summarizes your company values. It is the reason why your brand exists, so create a clear, concise mission statement that will be reflected in your logo, tone of voice, company tagline and messaging. The mission statement will help to establish a brand identity, which can help you to create a positive reputation and following.
3. Research Competitors
Never imitate your competitors. Yet, you should thoroughly research your primary competitors to see where they are succeeding and failing. By doing your homework, you can spot a gap in the market, while differentiating your brand from the competition. After all, it is your goal to convince a customer to buy a product from you over a competitor.
4. Promote Your USP
What can you offer a consumer that your competitors cannot? If you don’t know, then you must find out. To compete with big brands with bigger budgets, you must promote your USP as much as possible. Focus on your company’s qualities, values and benefits that make it unique in your industry.
For instance, do you provide free delivery, a 100% money back guarantee, eco-friendly products or 24-hour support? Whatever it is, convince your target audience that they need to choose you over a competitor.
5. Create a Professional Logo and Tagline
Nike is a perfect example of a basic and effective logo and tagline, with its trademark Swoosh and “Just Do It” phrase. With a little creativity and the right logo maker, there is nothing stopping you from following in the brand’s footsteps and creating a professional logo that’s synonymous with quality. Remember, your logo will appear on every marketing material, so it must reinforce your brand identity.
Do you have any helpful tips for creating a solid brand identity? Share your advice below.
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