Branding is a business asset that should not be underestimated. Businesses that do branding well tend to be more profitable. Why? Strong brands get more visibility and attract more customers. They almost always have a more robust reputation and stronger marketing strategies.
It’s important to understand that a strong brand never just comes about. It is the result of careful research, planning and strategizing. It’s helpful to see a brand as something living that needs cultivating over time. As consumers, technology and industries evolve, brands need to as well.
If you are looking to strengthen your brand for more profitability, here are some tips to help you get started.
When most people think of branding, they think of logos, colours and design – the visual aspect. At its core, branding is about communicating who you are to an audience. While visual communication is important, there are many other ways in which you communicate who you are to your audience.
It’s important to start with the purpose behind your brand. Why does your business exist and what differentiates you from your competitors? By focusing on the ‘why’, you’ll be able to connect with customers and clients who share your values and resound with your motivations.
It’s good to research the brands who are leading your industry. Not so you can copy what they’re doing, but so you can differentiate yourself and go one step further. It’s hard to convince customers to buy from you if your brand is exactly like the other options out there. Figuring out how to differentiate yourself from competition is a crucial part of branding.
If you want to attract more customers and boost your sales, you need to tailor your branding to your target audience. Trying to appeal to everyone is a sure way to fail. Instead, focus on the exact group that you are trying to attract. Your brand story and messaging should speak to their needs, values and desires.
People connect better to brands that have a “personal touch” or in other words, brands that feel like humans. One of the best ways to develop this with your own brand is by creating a distinct “brand voice”. This includes what you say (content and vocabulary) and how you say it (tone, voice, attitude).
Your brand voice should align with your brand values, appeal to your target audience and be consistent across all platforms. Whether someone is reading your blog post or your tweet, it should feel like the same voice.
For more business advice to help you boost profits, get in touch with the team at Lawrence Group. We’re passionate about helping Perth businesses grow strong and healthy.