Branding is one of the most important aspects of any business, regardless big or small, retail or B2B. An effective brand strategy will give you a major edge in an ever-increasing competitive market.
Before we continue, let’s understand what exactly does a” successful branding” mean? How do you define your brand? How does it give importance and impact to small businesses?
The word brand has various meaning, in many different mediums. The word ‘brand’ is one of those words that is widely used but unevenly understood.
The first definition of “brand” is the name given to a product or service from a specific source. Brand can be similar to the meaning of the word trademark. Basically, when you already have a branding, you already have a trademark.
Example of the paragraph above can be seen in conglomerates like Google, Coke, FedEx or even Colgate. How is that?
- When you want to search something on the internet, you are going to saylet’sGoogle it.
- When you want to have a Cola, chances are you are going to say you need a Coke.
- When you want to deliver a parcel across the world, you are going to look for FedEx.
- When you want to brush your teeth, you are highly likely going to ask for your Colgate.
These are just a small example of how a business, turned themselves to be a brand.
Your business brand is your covenant to your customer. It tells them what they should expect from your products or services, what is the different between your competitor and you.
Sending Your Brand Message Across
Businesses who aspire to be successful has to be consistent in communicating across many platforms. Those platforms include:
- Open and close environment (storefront or office)
- Print, signage, packaging
- Online advertising
- Content marketing materials
- Social media
- Customer service
How to Take Your Brand to a Different Height
1. Establish your target audience
The foundation of this is to understand your audience, and then determine the target group that you’ll be focusing.
2. Determine your mission statement
You’ll have to pursuit a clear expression of what your business is passionate about, and what value do you bring, before you can build the brand that your target audience trusts. The mission statement defines a purpose of existence of your business.
Example,Nike’s mission statement is: “To bring inspiration and innovation to every athlete in the world”.
That statement can be seen in the worldwide great athlete that they have under their brand. They focus on all types of athletes using Nike products to be their best self.
3. Research, and never imitate brands in your industry
The goal is to differentiate from the competition and determine a reason why your target audience should choose you instead of them. For a brand to be effective, it needs to be easy for consumers to recognise and remember. Some brand takes longer spending time to reach their target, but once it has made a great entrance, it is hard to forget them.
4. Outline the key qualities of your brand
Let’s be honest and upfront, there is already a brand with deeper pocket to command their industry. Your product and you belongs to you, that makes you different than the rest. However, you have to delve down deep and figure out what you offer, that no one else is offering. Your unique selling point is the one that is going to make you stand out against the crowd.
5. Create your brand logo & tagline.
In this current age and era, building and executing the right visual may be the one step where you are able to gain a wide following.
The most exciting and important piece of the brand building is to create a brand logo and tagline for your company. This logo will become your brand identity, business card, and the visual recognition of your promise.
Like Nike, Apple, Adidas, Mastercard, Razer, Carlsberg, Tiger or even Charles & Keith, these big players have garnered from their logo design and tagline.
Staying for Your Brand to Shine
Be it your end users or your potential customers aren’t just looking for another traditional company who offers the same thing just like the rest. As users, they are always looking for an experience which can be tailored made to satisfy their needs.
Basically, being different means, you have to integrate your brand into every aspect of your business, and the brand building process never stops.
It should be visible and reflected in everything that your customer can see, read, and hear.
The idea is to always stay true to what you have built. Unless you decide to change your brand in accordance to time, consistency is then key.
However, don’t constantly change your branding. The inconsistency will confuse your customers and make long-term brand building more difficult.
The Importance of Being First
This is easier said than done. It’s the 20th century, whereby everything that is needed, has been created. However, there is this part whereby you can add value to a certain product.
For instance, how Uber came out and added value to driving a car and gave carpooling a whole new meaning. This will end up giving your brand a breath of fresh air. Although other players followed suit, they are still the maiden one to come out with the idea.
People love to know what is new. That’s why the “news” is such a big business. It is jsut human nature to want everything new.
Just think about it this way, Netflix would have never made it if Reed Hasting’s idea had been to open a bunch of stores to compete with Blockbuster. So, it is your duty to find your selling point and make your brand name profitable.
But before you do so, contact our corporate service expert for your Singapore Company Incorporation.
Paul Hype Page & Co – Acra service provider and Asean Chartered Accountant.
Paul Hype Page & Co. have 3 physical offices in Singapore, Malaysia and Indonesia
Our Firm Goal is to assist Foreigner and Foreign Companies to set up business in Asean.
How we can help you:
We will call you back, please click below link and make appointment with our Sales consultant:
Step 1- Listen to your Business plan and Relocation needs.
Step 2- Analysis your Singapore Tax Planning
Step 3- Recommend the most suited type of Company Incorporation , Open Bank account and
Step 4- Arrange for your Spouse and Children Visa
Step 5- Assist as your company to hire staffs and handle all HR matters
Step 6- Every financial year end, we assist you with your yearly Acra Financial and Tax Compliance
Step 7- Assist you to expand business to Malaysia, Indonesia , Vietnam and Thailand.
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Paul Hype Page
Categories: Business Opportunities in Singapore