When it comes to attracting new customers to your business, perception isn’t
everything – it’s the only thing. Building a brand identity that leaves the best
first impression is vital as that impression is the one that lasts. Regardless
the size of your business and no matter how specific your market, branding
brings your business strategy to life, giving it a face and personality to which
customers can relate.

While an effective visual identity is an important element of a good brand,
finding one is really the last step in the brand building process. In building
your strategic marketing plan, you’ve already assessed the competitive
environment and have looked ahead to anticipate changing market trends. You’ve
also completed the necessary research to understand what your current and
prospective customers are looking for and what will make them buy. Now, you need
to ensure that the branding of your product or service delivers the right
messages to do just that. Your brand should communicate what your company
delivers, how it delivers it, the benefits it offers customers and the values it
stands for. These are the true bases for your customers’ buying decisions.

To build a brand that will bring your business strategy to life, focus on the
following key points:

• Identity:
  Your brand should reflect the essence of your
  business. Do you offer convenience and service? Quality and assurance? Motion
  and flexibility? Taste and style? Innovation and resolution? What are some of
  the key words that describe what your business is all about?
• Personality:
  If your business were a person, how would
  you describe him or her? Young and hip? Experienced and worldly? Sophisticated
  and refined? Witty and fun? Meticulous and precise? Get to know your business as
  you would a person and your customers will, too.
• Benefits:
  What’s in it for your customers? That’s what
  they want to know, and your brand had better tell them, right up front. Use your
  market intelligence to the fullest in developing benefit statements that make
  choosing your business a ‘no-brainer’.
• Value Proposition:
  What makes your product worth the
  price you’re asking? Does it save time? Improve performance? Add beauty? Prevent
  problems? Build networks? Remove obstacles? Replace the obsolete? Find a way to
  quantify the value of your product just as your customer will.
• Positioning:
  Brand positioning establishes a place for
  your business in the minds of your customers. In the strategic planning process
  you identified where you wanted your brand to be, so every message associated
  with your brand must consistently place it there. Are you the supplier with the
  product of the best quality? The lowest price? The widest selection? The longest
  track record? The best overall value in class?

Building a brand that will resonate with prospects, customers and employees
is critical to success. Once your brand is established, delivering your brand
message to the right target markets is the next piece in the puzzle – check the
next issue of 5th Insight for more on this and other smarter marketing
strategies to meet today’s business challenges.