There’s a shakeup happening in the global economy. The competition for survival in every market today is much fiercer than it has ever been.
From major market leaders to fledgling startups, every business has adopted a unique strategy to tackle the rapid change in our unpredictable market.
This chaos is the perfect recipe for a bloody battle of survival in the business world. The market has evolved to a new level, and if your business must take root in
the hearts of your audience, then you need to know how to launch a successful brand.
And yes, launching a successful brand requires a lot of skill, vigilance, and understanding of current market conditions.
So let’s begin with:
Why Your Startup Needs A Powerful Brand
Businesses are quickly adopting a new role in society. Customers are expecting much more than just products and services from their favorite brands. They expect these brands to be transparent, sustainable, ethical, and also provide seamless experiences.
- According to TSL Marketing; Powerful brands enjoy great customer loyalty, an improved image, and a relatable identity.
- Lucidpress has it that customer expectations on brands are on the rise now more than ever.
- According to Forbes, branding boosts a company’s profits.
- 70% of managers agree that brands help their companies build a strong audience base, which is a lot more valuable than direct sales.
Branding is your best bet when it comes to standing out in these uncertain times. But even though every start-up founder cannot recreate the next Virgin, Apple, Microsoft, or Amazon, they can build a brand that lives in the hearts of their customers.
And just in case you want to know how here are some powerful secrets to launching a successful brand.
4 Secrets To Launching A Great Brand
Fuel Your Passion
Building a great brand is impossible without earning the trust of your audience, and that’s because trust is the true currency of the market. 81% of customers only buy from trusted brands. But trust in itself doesn’t come easily; it takes time for your startup to win the trust of your audience.
Now, understand that passion is the driving force that can help you win your customer’s trust. The Journal of Advertising Research revealed that companies passionate about their products and services are always more appealing to customers than companies who aren’t passionate. That’s why 86% of customers are attracted to brands with authentic passion.
So, first–things–first, stop trying too hard to impress your customers; rather, seek to connect genuinely with them from a mutual point of interest.
2. Understand your Industry
In life and business, it’s hard to go wrong when you’re well informed. And the best way to get deep knowledge that’d help your business is by researching your target market.
Research is quickly taking center stage, especially now that two-thirds of global consumers are more inclined to switching and boycotting brands over social, political, ethical, and environmental issues.
Getting key information on your primary audience demographics, competitions, government policies, and the industry would give you a clear map of what works and what doesn’t. And while researching, focus on what interests your audience, their needs, and what they hate.
Familiarizing yourself with your competitors and understanding their brands and their services would not only show you what makes your brand different from theirs but also help you identify their limits and how you can outperform them.
3. Find your Brands Identity
If your brand doesn’t stand for something, it will lose everything. So seek to grow your business from a profit-seeking brand to a value-creating brand because only then will your business ever be bigger than itself and enjoy success.
Elon Musk’s ability to influence the world is unparalleled because, deep down, everyone resonates with his mission of saving the environment from the dangers of fossil fuels.
Now, just the same way Tesla’s identity is preserving the environment, and Apple’s identity is standing out with simplicity and excellence; your brand too should communicate a dream and identity that customers can rally behind.
And a good way to fully give life to your brand’s identity is by knowing your key branding elements. These elements are:
- Big Ideas: The main ideas of your business
- Brand Story: The special event that inspired the birth of your company
- Brand Values: The unique features that make your brand different from others
- Benefits: What needs of your audience does your brand satisfy?
- Emotion(s): How do you want your audience to feel and respond to your brand?
- Value Proposition: Why should customers choose your brand over its competitors?
4. Get a Perfect Name
Getting the right name is a critical step that can either make or break your brand’s success. And that’s because customers, in just a tenth of a second, can make an opinion about your brand and decide whether to patronize it or not.
And that’s why any business wanting to shine in the market must not get a common name but a great brand name. Great brand names are short, unique, appealing, easy to say, spell, and remember. Getting a great name could be the difference between the success or failure of your company.
A when it comes to finding a great brand name, a good place to start is with a powerful business name generator.
The Journey Goes On
We’re in a constantly evolving market. For your business to remain relevant, it must continually be on the journey to building a great brand.
And the same way Samsung’s powerful brand helped it survive the crisis involving the exploding Galaxy Note 7 devices, a solid brand identity can also be your saving
So don’t ever stop building a great brand identity.