05 Jul 5 Things to Consider When It Comes to Company Branding and Your Business
- 77% of buyers make purchasing decisions based on brand recognition.
- 82% of investors mention brand recognition as a major factor in investment decisions.
Find Your Target AudienceEven the fastest runner can’t win a marathon without knowing where the finish line is. Company branding is all about helping you find the exact audience demographic you want to appeal to and build your brand image around. To get started, determine the following about your target audience:
- Age range
- Education level
- General interests
- Any issues they face
Find Your MissionYour company branding must reflect your company’s mission statement. When building your brand, think about why your company exists. What does it offer that can help the people in your target demographic? Consider more than just a list of features. Ask yourself which of your offerings fix which specific problems your customers may experience.
Find Your CompetitionBeing aware of what your competitors are doing with their company branding is another important step. Observe the branding strategies of competing firms and make changes to your own accordingly.
- Don’t copy other brands lest your own won’t stand out.
- Instead, differentiate. Show how your business is the better alternative. Let your brand express how much better your customer service is, how much more money your customers will save, or how much time will be saved compared to the competition.
- And observe the results your competitors achieve through branding. What appears to be the most effective and ineffective way to generate a personality?
Find Your Company BrandingAt this point, it’s time to start crafting a persona that matches your firm’s mission and intentions. Consistency is vital in raising brand recognition, so keep the branding constant throughout your firm’s social media posts, advertisements, documents, and products.
- The Logo. The logo is literally the face of your company. Because the human brain processes images 60,000 times faster than words, the logo is almost always the first impression for your company. Hire a professional designer to help you create it.
- The Tagline. A short, sweet, catchy, and memorable tagline will help attach your brand image to the minds of consumers. Almost everyone knows a popular insurance company’s radio jingle “Like a good neighbor, State Farm is there!”
- The Social Media Presence. In your tweets or Facebook posts, use a tone that matches your company. Are you casual or professional? Are you focused on high tech innovations or more traditional tasks? Do you appeal to a general audience or an exclusive group?
Find Your Future EndeavorsAs mentioned, branding is an ongoing process. In order to avoid overexposure and keep your company fresh in the minds of consumers, consider rebranding in the future. Rebranding can occur when you want to:
- Shake off an old image. Microsoft, for example, rebranded the default Windows web browser to Microsoft Edge after its predecessor Internet Explorer received a lukewarm reputation.
- Respond to changing demand by appeal to a new demographic.
- Keep your image up-to-date as your company evolves and outgrows its original branding.