I know many business owners struggle to differentiate themselves in the market place and that’s not surprising as there’s so much competition out there. But it doesn’t have to be that hard either. Whether you’re just starting out and don’t have a business brand or you’re ready to up level your business brand there are some fundamentals you need to be across to ensure that you stand out with your own unique powerful brand.
You see, creating a business brand is one thing, but creating a powerful business brand is another. Every entrepreneur needs to be aware of the fundamentals involved in creating a business brand that will enable your service or product to not only succeed but to excel in the market.
Don’t be afraid of this process. Instead, try to enjoy building your brand by creating one that you can be proud of, that truly represents who you are and what you stand for and one that your customers will love.
Focus on the Business
Before thinking of a brand, think first of your business. After all, the brand is merely a representation of your business. So, avoid focusing too much on developing an effective brand without giving attention to your business. Your brand must come as a result of your business, not the other way around.
The brand you develop depends on these 3 key factors:
1. Nature of your business
2. Type of service you offer
3. Distinction from your competitors
Nature of Your Business
One of the main purposes of creating a brand is to communicate to prospective clients is what your company does. Therefore, take time to evaluate the nature of your business and the distinct attributes and images it conveys to the market.
If possible, try to produce your brand according to the specific target market of your business. Is your business catering to doctors, six-figure female entrepreneurs or children? This will help establish the name and image for your business.
Once you increase awareness of your brand as a representation of your company’s products or services, only then can you expect to experience increased sales. Creating a powerful brand that will be easily remembered and distinct will enable you to create a loyal customer base who will continue to buy from you and refer you to others.
Type of Service You Offer
The elements surrounding a brand name—such as a logo, mission or vision statement, or color scheme—are just abstract concepts.
What establishes a brand as a concrete representation of your company and business is the promise of the experience that your customer has with your product or service. Therefore, you need to establish that relationship between your customer and the kind of service you bring to them.
The perceived value of your company is a vital formula that will produce a powerful business brand. It is not all about images, but includes delivering results to the emotional and physical needs of your customer.
Distinction from Competition
Although examining the type of brands that are utilised by your competitors will help you establish your own brand, you need to differentiate from them while exceeding them at the same time.
Distinction must not only arise from the business name or logo itself, but from the quality of service that you deliver and the outcomes your clients get. What can you offer that your competitors do not and cannot offer?
Then, incorporate that into the creation of your brand so you will easily be able to capture your clients’ attention and open them to the possibility of doing business with you over anybody else.
In a market that is flooded with other similar businesses, making yourself unique and distinct from others is one way to establish the reputation of your business. Couple that with a passion for delivering top-notch customer service and you are sure to establish a powerful business brand that will help your company achieve its goals.