In today’s business world, brand identity or brand equity is a major business strategy that drives success. Strong brand equity can help to create a long-term positive image for a product or service and increase sales. Although there are many ways to create a brand, only a few of them provide tangible benefits over others. While an effective brand strategy can dramatically improve returns, many companies have yet to discover the secrets that create this powerful marketing lever. Here are three key strategies every company should use to build a brand:
Developing a consistent personality is one of the first steps to building a brand
Brand identity is more than just a logo and slogan; it’s the complete set of elements that a business creates to effectively portray the appropriate image to its customer. As an initial step, each company should create a unique “brand sense.” This personality concept is designed to be the framework from which a company crafts a unique visual identity. Brand equity is separate from brand image, although both of these concepts can be combined. The brand name represents the core values, characteristics, and uniqueness of a product or service while the logo presents the visual aspect of the organization.
PPC advertising, and search engine optimization
Every day, millions of people log on to Twitter, Facebook, LinkedIn, YouTube, and the rest of the social media networks to communicate with their friends, family, and colleagues. Social media is also a crucial marketing tool for creating brand awareness. Businesses should invest in establishing a social media presence using various social media outlets such as social media marketing, PPC advertising, and search engine optimization. If a business chooses not to leverage social media, it is virtually guaranteeing failure.
Brand equity and brand identity are two very important but separately distinct components
By establishing a solid foundation on which to build a strong brand identity, a business can then work to strengthen its branding and make it more noticeable to potential customers. The two tangible elements of a brand are the logo and the brand name. These are often used together with social media and SEO efforts to enhance visibility and brand recognition.
The final element that defines a brand is the positioning statement
A positioning statement is a summary of goals and objectives for the company, along with a concise description of how the business will achieve those goals. The positioning statement should be written in a style that is easily read and understood by the target audience. It should be organized into a logical sequence of events that make a clear vision for the company’s future.
Each of the four components mentioned above is crucial to a successful brand-building process. Each component is equally as important as the others and no one should be allowed to dominate the process. The brand should be refreshed regularly and all strategies should be in place to avoid repetition. A company should develop a sense of culture and maintain an emotional connection to consumers. The brands should be unique, engaging, and consistent and they should never become too generic.