Branding · 22 November 2005, 05:12 by Admin
Objective of Real Branding
“Real branding raises your bottom line revenues, lowers customer acquisition cost, increases customer retention and profitability”
Why strong brands are important?
1.Give a firm idea of what the customer is buying into in order to make their purchasing decision easier, what are the needs and motivations of buyers in the gifts market and ethical consumers? How can you and are delivering what they need?
2.With existing customers, strong brands give trust to them because they know what to expect
3.Stand out from the crowd (competitors)
At a minimum, is used to refer to the visual identity of a corporation (its logo, signage, etc.), but usually taken to mean an organization’s presentation to its stakeholders and the means by which it differentiates itself from other organizations.
Create a Strong Brand
1.Define Brand Values: Company’s strengths: what are you good at and what do you believe in? Keep your brand simple. Focus on a small number of key brand values
2.Define Customer Requirements/Needs (what drives customers and what makes them buy the products?). Market Research with existing customers (what they like about your business) and potential customers what they look for in their buying decisions can also give you useful information to help develop your business – and your brand
3.Match brand values with Customer Requirements
4.If brand values = existing & potential customers’ requirements, start building the brand. If brand values do not equal customer requirements reconsider benefits offered to present customers or whether you’re targeting the right people.
5.Build Brand by consistently communicate brand values. (Every aspect of your business should make customers feel the same way about you.)
Communicate your brand. Make sure every advertisement, brochure and letter helps reinforce the same message. If you have a logo, use it everywhere.
Remember that every possible contact you have with a customer or potential customer needs to reinforce your brand values.
Key areas to consider are:
• Your business name
• Names you give your products or services
• Any slogan you use
• Your logo
• The style and quality of your stationery
• Product packaging
• Your premises
• Where and how you advertise
• How you and your employees dress
• How you and your employees behave
• Your company website
Check if the above are in line with brand values and if promises to customers are fulfilled.
Manage the brand
1.Keep volunteers & employees involved by setting up a suggestion scheme, or regularly taking the time to discuss your brand and how your business is performing.
Continually reinforce the message that what they do is important. And make sure they know that breaking the promises to customers that your brand makes – even just once – can damage the brand and your business.
Involve employees. Make sure they understand your brand and believe in it.
2.Regular feedback from customers to find out if your business delivers the promises your brand makes. Ask dissatisfied customers or former customers as well
Review the Brand
Ensure that your brand still matches customer needs and preferences. Does everything work as well as it can to deliver what your customer expects? Does your customer have the same expectations of your business, product or service? Has your market-place changed? (Products and services, systems, marketing strategy)
Reviews can also provide an opportunity to develop a business.
Budgeting for a brand
Set a budget so that you don’t spend money unnecessarily. It will focus the mind and force you to prioritize spending on the branding effort.
The key areas you could budget for are:
• Design needs, such as a logo, signage, business stationery or product packaging
• Your premises
• Your advertising
• Time you’ll need to spend with employees to make sure they understand your brand
• Any resources you’ll have to provide for employees to enable them to carry out what the brand promises
• Changes to your company website
Stationery, logos, packaging and advertising can follow later if the budget is tight. But it’s worth planning to bring them into line within a reasonable period of time to give your customers a visual representation of what your brand means.