Four Branding Principles Every Aspiring Entrepreneur Should Know
The common mistake many beginning entrepreneurs make is assuming they can dive right into the action while ignoring such an important aspect of any business as branding. A powerful brand gives you a huge advantage over competitors. But what is branding anyway?
Branding is the process of creating a unique identity for a company, its products, and the way people perceive them. Every business conveys its values, beliefs, and priorities through the process of branding. A strong public image gives companies the ability to distinguish themselves from competitors and create a devoted customer base.
Regardless of whether you engage in branding or not, your business will build a reputation anyways. Yet, having a proper branding strategy allows you to shape customer expectations that go beyond just buying and selling products or services. When you work on your branding, you have the power to control your brand’s image and perception among the public.
Branding takes a lot of time and effort. No wonder many people who balance college and entrepreneurship often think, “I’d rather have someone to write my essay for me and concentrate on building a business instead.” Sure, aspiring entrepreneurs understand they should be involved in the process as much as possible. Are you one of them? Then check out these four basic principles of branding.
Define Your Brand Identity
A brand identity is what you show to the public. This includes visual elements such as the brand name, logo, fonts, color palette, and other graphic and verbal elements.
People should recognize your brand. This is a fundamental element of the customer-brand connection. A strong brand identity should also serve as a reference for any decisions regarding product representation – packaging style, ad campaigns, the design of your product itself, etc. Everything related to your brand should be aligned with its identity.
Position Your Brand
You should determine the position of your brand within the consumer market. Brand positioning is essential for correct audience segmentation and targeting.
Take a look at the Microsoft and Apple rivalry, for example. Apple positions itself as a premium brand offering innovative, high-quality products. They focus mostly on design and exceptional user experience.
Microsoft, on the other hand, positions itself as a brand available to everyone. They focus on the software component and are perceived as a more conventional company.
Though, for the most part, both companies provide the same types of products, their target audience differs due to varying approaches to brand positioning.
Be Different and Noticeable
The defining principle of the world’s most successful brands is not necessarily “to be the best.” But “to be unique” is almost always the key to the love and admiration of potential customers.
Your product – and so your brand – must stand out among others. Distinctive branding makes it easier for customers to recall and identify your product. Moreover, standing out among competitors is crucial for your brand’s long-term success.
Represent Your Brand Personally
If you don’t embody the essence of your brand, do not expect people to support it. This doesn’t mean you have to be the mascot of your company and wear silly costumes to promote it. Rather, it means that you should consistently represent your brand professionally and still exhibit a genuine passion for it.
Sometimes you might need to participate in the operational processes of your venture. If you provide, let’s say, paper writing services, you may offer your expertise to your writing team on some subjects, provide feedback, and be a proofreader sometimes.
In general, people will have a positive opinion of a brand owner who is actually interested in their brand. The one who makes everything to improve the brand and agrees to mentor employees when necessary.
Still, your personal representation should be genuine. No one will like your brand if you try to be someone you’re not or present an image inconsistent with your values or identity.
Those are the four basic principles of branding that every aspiring entrepreneur should know. Developing a brand is a complex process requiring dedication, time, and perseverance.
Branding is a strategic asset that helps your brand achieve its goals and unleash its full potential. As you gain a better understanding of your target audience and their preferences, you can change and adjust your brand. Prioritizing branding is essential for any aspiring entrepreneur, so be sure your efforts are worth it!