Every business needs branding, whether it is a small or a big one. According to multiple research results, around 50% of the consumers buy new products only by the brands they are familiar with. It means it is essential to focus on building a brand with other promotional activities for your business.
Building a brand helps to define the business to the customers as well as to the company employees. It is also referred to as the identity of a business. With the help of a brand, the business gets connected with the customers emotionally as that shares the beliefs and values of a company. Hence this leads to better brand differentiation and higher sales numbers.
Brand helps you gather goodwill
A well-defined brand also helps to encourage the advocacy and loyalty of the business. Hence with this, you can protect the pricing when the competitors play in price strategy with heavy discounts. Building a brand is considered a simple process if you manage to break down the creative elements into steps. Here is the detailed guide for building the perfect brand for the business.
Understand your target audience and competitors
The first step towards building the perfect business brand is good market research. Market research is necessary to understand the competitors and the target audience. Listing down a few questions, such as your target audience or why your service is better than the competitors, can help immensely. If a lender wants to spot the fund seekers for the installment loans for bad credit direct lenders only in the UK, it needs research.
The finance company should filter the fund seekers who go to mainstream lenders from those who seek the services of the direct lenders. Answering the related questions help to find out the customers and plan further branding efforts.
Elaborate your brand
Your service or product can serve only a specific set of people. It is the reason that a brand should reflect similar uniqueness. Make sure to identify the personality of the target audience to make this easier. It can be done by defining the mission statement of a business.
Try to define brand goals in a couple of words and the simplest form. If not sure about how to start, then make sure to define the audience first. This may help you do the task more straightforwardly. It essential is to ensure that your target audience gets the correct meaning of your intentions. The businesses that explain their intentions and goals always get a simpler entry into the lives of the customers.
Select the right name
Choosing the right name is another crucial step in building the brand. A bit of brand-defining strategies and competitive analysis can undoubtedly give you an idea about the ideal brand name. According to the experts, branding is more than just a logo and name. You can notice it in some particular industries such as the fashion and finance industry.
People usually chase a brand name due to the factor of reliability. There may be many lenders in the market, but people rarely consider a new name if a finance company is established in the market. Example – The 12 month loan for bad credit people with no guarantor by the direct lender are available in abundance. However, people usually seek deals from established names. Similarly, people desperately chase a fashion brand that they love and trust a lot.
Choose the brand colours
The next step after the selection of the name is to choose the brand colours and the font type. Yes, you have to be that much specific. The colours that you choose to represent the brand should reflect the feelings. Make sure to select two to three shades as a combination for the brand. The right font helps to convey the brand message to the customers in a highly influential way.
Each font represents a different way of telling the message. A good old traditional shade represents trustworthiness, while the modern hues represent innovation. It is advised to experiment with various combinations to get the unique brand expression. You can refer to the websites or brochures of similar brands to check the fonts that they use.
Prepare the slogan
Slogan or Tagline conveys the message about the value proposition. A tagline is generally placed along with the logo and inside the ads. According to the experts, you should always keep a short slogan that is easy to remember. It is an added advantage if the slogan also conveys any call-to-action message.
You can make a change in the slogan as the business grows. However, it is also advisable not to change it frequently. Everything that denotes your business intention represents your identity. Let the customers get familiar with it completely. Usually, it is good if you keep a slogan at least for three years. It is as close to your business identity as your brand name.
Gather the brand images
Good images or photographs reflect the overall perception of the brand. Good photography always conveys the brand message. Hence it is essential to pick the right images for the brand. If not sure which one to choose, refer to various photography sites such as iStock, Unsplash and start building the collection for the brand.
Images are extremely useful in promotional materials, and they need to be posted on the website. Make sure the photos that you choose should reflect the brand message. Do not use the common images because they make you a part of the crowd. Usually, the best practice is to create your own image. Either click it or make your marketing team busy to create the best image.
Design the logo
Here comes the essential section of business branding. A logo defines the unique identity of a business. Most of the customers tend to remember the brands by the logo. Hence it is essential to focus on the designing part of the logo.
The standard advice that experts give for creating a logo is to keep it simple. There are several tools and websites available through which one can design logos easily. Start-up businesses usually avoid spending on logo making services. Thanks to the user-friendly logo making apps and websites that do this task for you free.
Identify the branding assets
Brand assets are the creatives that you need to highlight the brand. These brand assets help to represent and promote the brand. Some of the basic branding assets are web pages, apparel, social media posts, print ads, digital ads, email headers, business cards, video assets, window decals, etc.
All the brand assets should be appropriately promoted because they carry promotional content of your brand. Distribute them for free, and people will spread the word about your brand without any cost. After all, we all know that people love things they get without paying anything. Just try it, and it is sure to work. Ask other business owners because it is one of the most tried and tested methods.
These are some of the essential components of building a business brand. Yes, it may take time and effort, but these tips can certainly help you make the process easier. Branding is a timeless activity, and a business needs to invest in it constantly. After all, it is about earning the trust of the customers and profit and branding is necessary for it.