June 8, 2023

Branding: The Idea of Standing Out from the Crowd Ezekiel Muoneke Content Writer Blog June 8, 2023 10:57 am Branding is one of the most important aspects of any business, whether it is a small start-up or a multinational corporation. Branding is not just about having a catchy logo or a memorable slogan, it is about creating a unique identity and personality for your business that sets you apart from your competitors and resonates with your target audience.  But what exactly is branding and why is it so important to incorporate into your business’s life? How can you create a strong brand that stands out from the crowd and attracts loyal customers? In this article, we will explore these questions and provide some tips and examples of effective branding strategies. What is Branding? Branding is the process of creating a distinctive name, symbol, design, style, voice, message, and image that represents your business and its values, products, and services. In a nutshell, it is the way you make your customers feel when they interact with your brand, and the way you communicate your values, vision, and mission. Why is Branding Important? Branding is important because of its ability to make or break your business. Strong branding can give you a competitive edge in the market, increase your customer retention and loyalty, boost your reputation and word-of-mouth referrals, enhance your profitability and growth potential, and create a lasting impression on your audience. On the other hand, weak or inconsistent branding can confuse your customers, damage your credibility, lose your market value, and invariably hinder your growth potential, making you forgettable or irrelevant in the sphere of things. According to a study by Nielsen, 59% of consumers prefer to buy new products from brands they are familiar with, and 21% would opt for a new product because they had an affinity to the brand. What this simply means is that strong branding can help you:  • Establish a clear and consistent identity for your business that reflects who you are, what you do, and why you do it. • Differentiate yourself from your competitors and highlight your unique selling proposition (USP). • Build trust and credibility with your customers and stakeholders by delivering on your promises and exceeding their expectations. • Create an emotional connection with your customers and inspire loyalty and advocacy. • Increase your visibility and recognition in the market and attract more leads and sales. How to Create a Strong Brand that Stands Out from the Crowd? 1. Define Your Brand Purpose Your brand purpose is the reason why your business exists beyond making money. It is the core value that drives your actions and decisions. It is the impact that you want to have on the world. Your brand purpose should answer these questions: • What problem are you solving for your customers? • How are you making their lives better or easier? • What difference are you making in the society or the environment? • What is your vision for the future? Your brand purpose should be clear, concise, compelling, authentic, and meaningful. It should inspire you and your team to work towards a common goal. It should also resonate with your customers and make them feel that they are part of something bigger than themselves. For example, Nike’s brand purpose is “to bring inspiration and innovation to every athlete in the world”. This statement reflects their passion for sports and fitness, their commitment to excellence and innovation, their inclusiveness of all people regardless of their abilities or backgrounds, and their aspiration to inspire others to achieve their potential. 2. Identify Your Target Audience Your target audience is the group of people who are most likely to buy your products or services. They are the people who share similar needs, wants, preferences, behaviours, values, demographics, psychographics, lifestyles, etc. You need to identify your target audience so that you can tailor your branding strategy to suit their needs and expectations. To identify your target audience, you need to conduct market research using both primary (e.g., surveys, interviews, focus groups) and secondary (e.g., reports, articles, statistics) sources. You need to collect as much information as possible about their: • Age • Gender • Location • Income • Education • Occupation • Family status • Pain points • Desires • Aspirations • Values • Beliefs • Attitudes • Opinions • Behaviours Based on this information, you can create buyer personas or fictional representations of your ideal customers. (We talked about this extensively in a previous article.) For example, Spotify’s buyer personas include: • Chloe, a 22 year old college student who loves music and podcasts and uses Spotify to discover new artists and genres, as well as to relax and have fun with her friends. •David, a 35-year-old lawyer who loves music and podcasts and uses Spotify to stay updated on the latest news and trends, as well as to unwind and escape from his stressful work. •Emma, a 45 year old motherof two who loves music and podcasts and uses  Spotify to enjoy to her favourite tunes annd shows, as well as to bond with her family and friends. Buyer personas help you to understand your customers better and communicate with them more effectively. They also help you to segment your market and target your marketing campaigns more precisely. 3. Develop Your Brand Identity Your brand identity is the visual, verbal, and emotional expression of your brand. It is the way you present yourself to the world and how you want to be perceived by your audience. Your brand identity includes: ~ Your brand name: The name that identifies your business and distinguishes it from others. It should be catchy, memorable, easy to pronounce and spell, relevant to your industry and audience, and legally available. ~ Your brand logo: The symbol or graphic that represents your business and conveys its essence. It should be simple, distinctive, scalable, adaptable, timeless, and consistent with your brand personality. ~ Your brand colours: The colours