Get Your Branding Right for 2017
The branding of your business can be responsible for a lot of factors, including its success. Good branding can result in customer loyalty and a high conversion rate, but how do you get to this stage? How do you build a brand that speaks for itself and brings in results?
Your brand is essentially the representation of what you do, and how you project yourself to your customers. Involving everything from visual elements, such as your logo, to communications on social media platforms, branding can actually go a step further than this. Branding can do so much more than just create an impressive image of your business; it can actually have financial rewards too.
In today’s fast-paced world, customers will simply move on if they aren’t engaged or interested enough in a brand; there’s a hundred more out there to choose from. When you look at it like that, it’s clear that branding can have a huge impact. Outstanding Branding shed some light on how branding can make a difference for your business in the upcoming year.
How do you measure brand success?
How do you know if you’ve already got a good brand, or if it needs some attention? The truth is that your brand will always need to be built on and maintained, but there are a few indicators to help guide you on the right path. Brand success can be measured on 4 variables; awareness, advocacy, loyalty and growth.
When it comes to your brand, one of the main objectives is to raise awareness that you are here. So, do people know who you are and what you do? You should be checking if your target audience is talking about you, or even visiting your site. Advocacy comes from positive brand experiences; are your customers recommending you to colleagues and friends? Good reviews or sharing content can be an indicator of brand advocacy, so it’s worth remembering that you should be encouraging this amongst your audience.
Customer loyalty can play a huge role in the success of your brand; have you developed an audience who come back again and again? Loyalty comes from a level of trust; customers will openly shout about your new services or products. Brand growth is measured by noticing an increase in your following on social media, or receiving positive responses from marketing materials that are sent out under your brand.
Advertising x branding = growth
It’s easy to realise that branding makes a difference when you consider the likes of Apple, McDonalds and even Google; big, household-name brands that continue to have increasing success. Surely this is just down to advertising, we hear you ask. While advertising is a crucial part of marketing, as it pushes your brand into the spotlight, it must be backed up by strategic, creative and meaningful branding.
Branding is a set of tools used across all channels, both digital and in your very own place of work. Internally, branding must be something understood and taken on by everyone; if your employees are tied into the vision of your brand, you’re already on the right path. Whether this is achieved through a cleverly branded office or a set uniform, creating a company culture can be vital.
The Brand Value Growth matrix report stated that ‘advertising x branding = growth’. In other words, the value of your brand is more likely to be hugely successful if you deliver a combination of unique core propositions, distinctive brand identity and great advertising.
Establishing what makes you unique early means you are able to create a strategic path to follow, with a direct and clear approach. Aspects of your business that are branded with a clear message for your audience are almost guaranteed to bring back an important return on investment.