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What is a brand? A brand is a whole set of associations, expectations, memories and desires. Branding encompasses your company’s message and consumer experiences, product functionality, customer service, and your social media presence. If starting a business is challenging, then creating a brand is more so. Money may have motivated you to build a business, but it doesn’t wield the same power as purpose. Discern the inner meaning that fuels your business and make it the basis of your branding.
A brand with a purpose is powerful. Marketers must understand a brand's basic essence - the intangible qualities that define it. Branding is more than marketing or ads. It is the sum of everything that communicates a message about a brand. One marketing expert said a brand's essence is "a single thought that captures the soul of the brand."
Only when you have looked into your brand's soul can you create appropriate new products, distribution plans, advertising strategies and partnerships. Brands with a purpose are “compelling, authentic and relevant.”
Your brand is the image of your product or service in the minds of your clients. It is “all the meanings that all your possible customers carry around about you in their heads and in their hearts.” To build a brand that resonates with the market answer the following questions:
•What value does the brand bring to the market?
•How is the brand meeting your client’s needs?
•Does the brand have a message for today's consumers?
•What can hurt the brand?
•What can the brand realistically achieve in the future?
Determining your brand's essence and establishing that deeper link between the market and your brand can be difficult. Every brand makes a promise to consumers; its actions define whether it keeps that promise. Brands that do not deliver on their promises fail.
Maintain the position of your brand by consistently delivering on its promise. Your team must understand and demonstrate the key ideas behind the brand. Everyone that is a part of your company will need to speak in a single voice, guaranteeing that customers hear consistent messages about the company's brand promises. Make sure the market understands your brand’s purpose.
Your brand is all-important; hearing your name creates the “anticipation consumers feel for a specific benefit...from a company, product or service.” People have both logical and emotional reasons for bonding with brands. The real boss in every business is the customer. Since your customers are in charge, satisfy them. Ensure that your products and services – and your brand – remain relevant in rapidly changing markets.