Do you need a Brand for your business?
There was a time when starting a business seemed like a vague and unattainable mission, suitable only for brave and ambitious people.
Today, however, when the barrier to entry into the online business world is significantly lower, entrepreneurial opportunities tempt people from all over the world to look for an alternative to the standard 8-hour workday.
But while it’s great to have a cocktail by the pool while working from your laptop, you shouldn’t overlook the hard work you’ll inevitably have to do while starting and growing a profitable business.
The challenges are endless, and the payoff doesn’t always come right away. You’ll have to spend hundreds of hours generating leads, perfecting sales funnels, managing finances, and whatnot.
Then comes the question: is it worth the effort in the end?
The answer depends on whether you’re just doing business or building a brand.
If all you’re doing is so you can make more money and break free from corporate chains, this concept won’t last long. As soon as your service or product goes mainstream, the competitor squeezes you or drastically lowers prices, and all those hours, sweat, and tears spent building your money and leisure machine will go to waste.
You may get lucky and your business may explode without a brand, but statistically speaking, this is very unlikely – in practice, only half of small businesses survive beyond the 5th year.
For your business to thrive, you need to have a long-term vision, story, and values that engage your audience emotionally and make them recognize them as their own. That way, you’ll have dedicated and loyal customers who will follow you no matter where life takes you.
It is no coincidence that the most profitable companies in the world also have the most recognizable brands (e.g. Google, Apple, Amazon, Facebook). A recognizable brand is able to distinguish you as an authority in the industry, make the media interested in you, and open up new perspectives and room for development in the long term.
So how do you build a successful brand for your business? Here are 4 easy steps:
- Define your target audience. (It is important to do this in great detail, for example, athletes, men, and women of active age, living in big cities)
- Create a story and values for your brand that resonates with your target audience.
- List the key qualities and benefits your product or service provides.
- Create a logo and slogan that are in line with your brand. They will become your identity and calling card and will visually distinguish you from the rest. (For example: Just Do It! – Nike)
- Start creating branded content by maintaining consistency and consistency. It is important to follow the overall brand vision and vibe.
According to one study, 94% of consumers say they are likely to recommend a brand they are emotionally invested in a friend. 91% say they’re more likely to buy from an authentic brand, and 64% of consumers cite shared values as the main reason they have a relationship with a brand. Emotional engagement is the key component that differentiates strong brands.
If you want your business to stand out from the competition and need help building and maintaining your brand identity, contact one of our experts.