All successful brands in the world have one thing in common, and that’s a carefully crafted brand strategy. One careful look and you’ll notice that they leave nothing to chance. These companies are intentional about enhancing their uniqueness and elevating their brand’s position in their respective industries.
Prominent business owners like Steve Jobs, Bill Gates, Jeff Bezos, and Elon Musk engaged their superior business skills to create truly exceptional brands that genuinely meant something to their audience.
And if you want to take your business to the next level by replicating their success, you need to understand what it takes to launch an incredible brand. And when it comes to launching a great brand in 2021, we’ve got a great guide that’d help you do that.
Why Branding is the Answer
In 2020, the COVID pandemic unraveled the global economy. And thanks to the lockdowns, lives were shut down, economies dwindled, and some even failed.
But lockdowns were the perfect opportunity for entrepreneurs that’d always dreamed of starting their business but couldn’t find the time to do so. Entrepreneurs got to work, and by the time lockdowns lifted, over 500,000 new businesses had flooded the market.
And with such a massive influx of businesses, it’s critical now more than ever that your business stands out from the crowd and establishes itself as an authority in its field.
And to do that, you’ll need something unique like a true brand identity, which takes a lot of time and effort to develop.
Where Branding Stands in 2021
Businesses had to adapt to the changes in customer behavior caused by the pandemic, and some ways they did this were by:
- Putting a Face on their Brand: This made it a lot easier for customers to connect personally with a company.
- Using Premium Domains: Premium domains names became popular and in high demand because they played key roles in helping new brands break into their industry.
- Taking a Social Stand: Customers want to see their favorite brands making decisions that align with their social needs.
- Connecting deeper with their customers: Social media helped brands engage and get feedback from their audience.
Why Your Business Needs a Great Brand to Survive
The market is becoming a fight for survival, and only companies with the best brands win. Any entrepreneur who fails to brand their company properly will only end up with a generic brand that struggles to grow because of its inability to attract its target customers.
A well-branded company with excellent customer service finds it a lot easier to attract customers willing to pay 16% extra for their products or services. Don’t just focus on creating logos and taglines but also on providing an excellent combination of values, visions, and strong customer support.
Entrepreneurs everywhere are already adding these qualities to their brand and using them to tackle the drastic changes in the market. So, if you want to build a powerful brand that’ll drive its industry, then make sure to use these strategies to your brand’s advantage.
The Secret Keys to Launching an Incredible Brand
These are the steps to launching an incredible brand:
- Embrace Focus, Passion, and Consistency
Building a great brand is a process. And that’s because it takes time for your customers to understand your brand and its full weight. The Journal of Advertising Research revealed that companies that can convey their passion for their services and brand vision hold a greater and more favorable sway on their customers than those who don’t.
And that’s because a brand’s enthusiasm is magnetic. Passion is the fuel that drives businesses to success, and consistency guarantees positive long-term results.
- Deepen Your Understanding of Your Brand’s Industry
Although it isn’t easy, you know an entrepreneur is on the right path when they take the time to get deep knowledge about their industry through comprehensive market research.
So, gather as much information as you can about your audience demographic, competitors, and industry so you can identify what your customers love, hate, and desire.
This would help you see the world through their eyes and also reveal the brand position that’ll help your company attract and meet their needs.
Don’t neglect your competitors; get familiar with them. Recognize what differentiates your brand from theirs and focus on enhancing these qualities. This way, you’d keep your business a step ahead of its rivals and also make your brand unique and irreplaceable to your customers.
- Find your Unique Brand’s Identity
Every company primarily exists to make a profit, but only truly great ones go a step further to fulfill a brand promise. Getting an exciting brand promise would help you communicate your brand’s mission in the market and motivate you to create a brand that can help you achieve these goals.
Companies like Tesla have successfully built a brand that promises to preserve the environment. Coca-Cola’s brand focuses on inspiring happiness, and BMW’s brand is pumped on creating the ultimate driving machine.
But before crafting a great identity and an exciting brand promise, you’ll need to establish your brand’s elements, and the easiest way around that is by categorizing the key elements of your company into:
- Big Ideas: What are your company’s core ideas?
- Brand Values: What personal business values and dreams motivate your brand?
- Brand Story: What events inspired the birth of your brand? Storytelling is the easiest way to warm the minds of your audience towards your brand.
- Benefits: What specific need do you fulfill for your customers?
- Emotions: What powerful emotion(s) do you want your audience to experience?
- Value Proposition: What’s your promise to your audience, and why are you different from your competition?
- Get a Premium Brand Name
All your efforts could go down the drain if you fail to find the perfect name for your brand that’ll help it stand out.
Getting a premium name is a priceless resource that your company can’t afford to miss because it’s an amazing way to introduce your company into a crowded market and quickly grab your customer’s attention.
Great names are short, creative, and unique. They can be the difference between the success and failure of your business.
Companies like Tesla, the leading electric car company, spend nothing on paid ads thanks to its powerful brand name. And if you want to get a great brand name quickly, then use a powerful business name generator.
- Build a Social Media Community
The pandemic successfully accelerated our move online, and today, customers are looking to build strong relationships with their brands there.
So don’t fail to grow your audience using popular platforms like Facebook, Twitter, Instagram, Pinterest, and LinkedIn while also releasing regular content like blog articles, email newsletters, and virtual events.
This would help you engage with your audience, build deeper connections with them, and get feedback that’d boost your brand.
During the pandemic, 90% of businesses used social media to connect with their audience, and the results kept these businesses afloat through the darkest times of 2020.
All that Matters is Your Brand
Your brand is the essence of your business, its voice, and its identity. Greatness in business only begins after you’ve started building a solid brand identity that’ll survive the test of time.
Grant Polachek is the Head of Branding at Inc 500 company Squadhelp.com, the worlds #1 naming platform, with 30,000+ customers from early-stage startups across the globe to the largest corporations including Nestle, Philips, Hilton, Pepsi, and AutoNation.