Most people who
undertake business branding for the first time have the tendency to throw
themselves into the process a little too late.
Why is this a bad thing? Since their branding is imperfect, their
understanding of what they were trying to do is imperfect.
Let’s look
at one of the giants in the industry – Coca Cola. Until recently, when Apple
passed them up, Coca Cola had a 13 year run as the “Best Global Brand.” They
had an estimated $78 billion brand value, and world-wide they led the market
with over 3,500 different types of soft drinks.
Now you may
not be as big as Coca Cola, or be as recognized around the globe, but you can
create a strong business brand that your target market will instinctively turn
to.
By
implementing the following steps in the exact order, you’ll be able to set up
your branding correctly:
1. Identify your ideal, paying market through thorough, informed
research tactics and techniques
2. Target
this market through each individual customer in the most effective manner
3. Name
your business or product correctly, choosing a name that is catchy, strong and
easy to read, say, visualize and use.
4. Focus on the key elements of branding to create:
- Household familiarity
- Brand consistency
- Customer acceptance
- A unique edge over comparable competitors
5. Implement effective strategies, promotions and tactics; all aimed
at a measurable branding goal
6. Measure
the effectiveness of your campaigns and strategies, as well as your brand strength
7. Refine your strategies and focus, narrowing your brand target and
increasing your returns
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