Today’s World is just a competitive market where you need to stand out in the crowd doing something unique and creating extraordinary things. Products and solutions are interchangeable and can be replaced. For a company to stand out you need to add value to your brand.
According to Brandwatch, the internet has approximately 3.17 billion users; 2.3 billion of them are active social media users-which is 176 million more than last year. 91 percent of retail brands are generally aware of this fact and use an average of 5 social media channels to grab the attention of all these folks…
…because of this, the average person sees hundreds (if not thousands) of ads per day. This is just a market strategy to make their brand known and well-furnished.
It’s a puzzling scenario for sure, but the simple explanation is that businesses succeeding in marketing are those with a clear, undeniable perspective…or in other words, a strong brand.
Some leaders will go to their grave proclaiming they know their business identity, but the truth is, their marketing efforts just aren’t paying off the way they should. And there’s no shame in that. Sometimes, when you’re too close to your business, it’s difficult to know the way it is perceived from the outside.
People often say that they will pay less for a product if the don’t know about the company that they are buying from, whereas they will pay more for the same product if they know about it’s BRAND and it’s very existence in the market. That’s the reason people don’t hesitate to pay a lump sum amount for Apple products because they have a faith in them and it’s all because of their “Brand Value”
Here are some steps for building a strong brand identity:-
Step 1 : Understand your market size:
“The first step is to understand what is your market and who are your customers” If you are starting a business then you must be aware about the customer that you will be focusing on, So whatever you do in terms of advertising or marketing you must be sure that it is reaching the right audience that you are targeting.
As marketing guru Ashley Friedlein astutely points out, “A brand is the sum total of how someone perceives an organization”, and branding is how you shape that perception. The finest way to shape perception is by captivating people with an unmatched idea, story or value. You need to create something which is appealing to your customers so that they get what they are hoping for.
Step 2 : Designing Insignia and Experiences:
Design is not just what it looks and feels like; it’s how it works. One of Steve Jobs’ more popular quotes, businesses interprets this as Job’s acclaimed approach to brand building.
People are more engaged with designing, whether it is “Apple” or “Google” or any other company. These company have designed their business in such a way that people find it near to perfect.
The brand image is sum of all associations consumers have with your brand, and in the digital world what consumers see and experience via those channels, decides your brand’s performance. “Sad But True”
Step 3 : Reinventing and thinking :
For Brand value creation you need to put your mind into work, as you are not doing something small. You need to come up with various ideas and among which one is Reinventing (Probably the culture which was lost ) If your business is not doing good then it’s obvious that something is wrong and not to the point and at this moment you need to start thinking what you were doing so good before but not now.
In 1997, when Steve Jobs returned to Apple and assumed control as interim CEO, his first official act was to remarket the brand to its employees. This elaborate internal campaign was designed to renew employee’s faith in the company when it was trading stocks well below value.
To remain competitive, you need to analyze your brand and you need to find out that is your Brand delivering the same promises in which your company stands and is known for ?
“Your brand identity should not just be a mission statement on the wall and logo. Your brand is a reflection of your thinking, your character, and your values.”
In conclusion, focus on building a value focused brand over a product focused brand to be noticed in the current market place. It will not only earn you better recognition, but help you expand your brand reach and leave a more lasting impression.
That’s it for today friends I hope you liked it, Though it was a little out of the head but it can help us a lot in coming days as we all are BLOGGERS and we are also focused on increasing our brand value to stand out in this market.
Feel free to share it with your “WANTREPRENEUR” Friends who needs a lil bit help in this part :p