So you have decided to build a business.
One of the first few essential tasks that you, as a business owner, need to do is to decide on a brand quickly.
A brand is a crucial element of your business. It is the first thing your potential customer will come to know about your business.
However, sad to say, most brands are not well-conceived. This leads to issues down the road
Like everything crucial, all aspects of it need to be considered before executing it.
Below are four reasons why you need to get your branding done right from the get-go.
Brand Association
Have you ever encountered an ambiguous brand and wonder what they are promoting?
The ambiguous brand does not adequately convey the service or product they are offering. It leaves its audience wondering what the business is all about.
As a brand owner, the ambiguous brand may have significance for you, but from an audience perspective, the brand is unclear. Your audience would have to take an extra step to figure the business behind the brand. In a time strap world where everyone with multiple priorities and choices, would rather just ignore the strange brand then do further research on it. Hence you have just lost a potential client.
As a new brand owner, one of your immediate priorities is to help your customers understand your business and recall your brand.
When these audiences who have seen your brand and what you can offer, ideally, they would be able to recall your brand and, after that, consider your brand in their purchase decision.
A purchasing decision is very much similar to a beauty contest.
If you are not one of the contestants, you will not even be considered for the grand prize.
So it is crucial to make it easier for your audience to understand what your brand stands for.
Brand Essence
What makes brands like Apple, Coca Cola, and Nike stand out in a world of myriad choices?
Brand essence.
Just like you as a person stands for something. A brand can likewise either be neutral or made to stand for something. And if that something you stand for resonates with your potential buyer, he/she is more likely to purchase your product over the competition.
Hence to give your buyer a nudge to purchase your product over the competition, you should craft a brand essence to sway your buyer’s purchasing decision to your brand.
Rebranding
From time to time, you read or hear of companies embarking on a rebranding exercise.
These rebranding exercises are not only disruptive but costly.
First of all, all existing hard-earned brand equity, online and offline, will be lost. A new brand identity has to be built. Existing marketing materials have to be discarded and a new set of materials crafted.
Secondly, to get everyone to buy into the new brand, a lot of public relations and advertising is needed to communicate this change. This change can create confusion for those who have missed out on any of your rebranding campaigns.
Thirdly, your hard-won fans would feel let down and might even abandon your brand and move over to a competitive brand.
Rebranding can be avoided if you get it right from the get-go.
Competition
Like yourselves, your competition is constantly thinking of ways to strengthen and grow their business.
They are not static. Your competitors are always on a lookout for an edge to beat the competition.
A brand is just one tool in their arsenal of edges they can leverage on. With everything else being equal (i.e. features and pricing), a brand could be a deciding and winning factor.
So shouldn’t you likewise leverage on this edge?
Branding, if done right from the get-go will save you ton of headaches down the road.
Let us work with you to get it right.
Shall we have a conversation on how we can help you with your brand and craft an edge for your brand?
