Have you ever wondered why some brands, no matter how pricey they are, still have some very loyal buyers in the market? When quality and trustworthiness is synonymous with your company name, then it won’t matter if you are a lot more expensive than your competitors. After all, most shoppers willingly pay a premium for their peace of mind, knowing that the product they bought from you is top-notch.
Signs of a Strong Brand
For strong brands, it is enough for consumers to see their company logo to understand their product or service portfolio. Just take a look at famous brand logos like in Nike (a simple checkmark) and McDonald’s (the golden arches). Consumers don’t need to hear a lengthy explanation just to figure out what these companies are offering.
In short, strong brands trigger common recall and understanding among consumers. More than just a name, a slogan, or a company logo, branding is what emotionally connects you to both existing and potential customers, thus motivating them to buy and become loyal to your products or services.
As a matter of fact, a study claimed that 59% of shoppers prefer to buy a familiar brand rather than take the risk on purchasing a new one regardless of the price.
Building Your Brand from the Ground Up
The fastest and easiest way to build your brand is to hire experts from reputable branding agencies. They can help you create basic strategies on how to best position yourself in the market. For instance, they can launch SEO and social media campaigns to get you started.
If you are new in the industry, consider the core principles or the main the focus of your business. It would serve as a working theme and your identity within the industry. It is very important that you connect the brand you are building with your company’s values, beliefs, or purpose so that you don’t get lost.
Furthermore, you need to recognize the barriers that could effectively hinder your efforts toward a strong brand image. Take a look at your product or service portfolio, then consider your competitors’. You would need a strategy that would help whatever you are offering to stand out from the rest.
Creating strong branding would inevitably increase your customer’s awareness about your products or services. The road to effective branding strategy is not easy, so unless you have the necessary experience and skills, it is advisable to hire professionals to do this for you.
Introduction to Brand Strategy: 7 Essentials for a Strong Company Brand, Hubspot.com
Picking the Best Branding Strategy, TheBalance.com