Branding: Are you doing it right for your business?
‘Branding’ has become such a common term, businesses across the globe are trying to get something out of it. It has become roots for any business. Everyone may be saying ‘Branding is an important and necessary element for your business – but why and how?
Here are a few FAQ on Branding which may help you to get a clearer picture about what you basically do while working on your business brand positioning:
– Where do I begin?
When we say branding, it doesn’t end at your logo, because branding just not end at a logo. But it does start there, and your logo tells describe your story and fortifies your identity. It provides guidelines for your brand, like your color, personality, etc. It is the first message which you give to your customers about who you are. Therefore, beginning with a great logo and following it up with your brand’s personality will enhance your market potential. Your vision, mission, goals, aim, values, ethics, and persona must be placed in your logo.
– Should I follow or copy any business’s strategy?
Always, NO! However, it may work that way, but the chances are really low. Your strategy must be based on what your business is, what is you STP, what you want to achieve, your resources, and your USP. All these factors never remain the same for any businesses. Thus, it is highly important to change your strategy according to the market positioning.
– What should be my branding strategy, In-house or Out-sourced?
Both sides have their own benefits. It all depends on how much work needs to be done and what all steps need to be taken. While an in-house team lets you have complete control over your activities participates your involvement, and work on the guidelines provided by you. On the other hand, an agency helps you to hire multiple skills and manpower at a reduced cost. Also, the agency definitely can spend the dedicated time needed on your behalf and also bring in unorthodox ideas to the table with enhanced creativity.
– Do I need a Brand Consultant when I have the best knowledge of my skills?
We all have our own set of skills and best knowledge about our work. However, a brand consultant is one who has an in-depth knowledge of branding. You may know what’s best for your company but you may not be good at enhancing your company’s image. A brand consultant helps in such activities. The brand consultant helps you see what’s the latest market trend, as well as what will be the best way to approach your customers. Branding is a complete mix and match of your company’s personality with the outside society which is perfectly balanced by a Brand Consultant or specialist.
– Does Branding cost a lot or is cost-effective?
Branding is definitely not a one-time cost, nor is it cheap but it is a necessary investment – an investment which surely helps your business after a certain period. The best way to go about it is by taking baby steps and having a dedicated amount and time to invest. There are some ‘must-haves’ which need to be invested in such as your logo, website, online presence among others. These aspects are something which increases your value tremendously. It is best not to compromise with your brand’s personality.
Branding, right from the first time helps a business to get assured ROIs and also helps to build a strong identity. Enhancing your brand’s personality will help business go in right direction.