Brands are not the sole domain of large multi-national businesses. If you are starting a business, it makes commercial sense to put some serious thought into your brand.
Here are five reasons why defining your brand is good for business.
1. Defining your brand provides focus
When starting a new business, there are plenty of ‘shiny things’ vying for your attention, and your money. Software packages that promise to simplify your world. Online marketing deals promising you clicks through to your website. Business advisers and training courses claiming to transform your sales. TV and radio stations guaranteeing eyes and ears. Newspapers and magazines claiming to have your target audience’s attention. SEO, social media channels, exhibitions and events, affiliate marketing. The list is endless.
All so tempting. Where do you start? Where do you stop?
Going through a brand creation process will help you to understand better who you are, how you differ from your competitors and why you are relevant to your customers.
Once you have defined your brand, you will have a much better idea of whether those temptations are 'on brand' or 'off-brand'. If they are 'on brand’, then they are worth considering. If, on the other hand, they are 'off-brand' then you should steer clear.
So, the investment you make in defining your brand soon repays itself many times over, by saving you time, money and effort on things that aren't going to work for your business.
2. Defining your brand gets employees on board
If you have already or are thinking about taking on your first employees, it’s worth considering that the people within your organization are usually the DNA that makes your business unique. Involving them in everything you do will make your company better.
Defining your brand and communicating it with everyone within the business provides employees with an understanding of what you want to achieve, the direction on how you plan to achieve it and the motivation to achieve it with you.Defining your brand is also good for HR. It will help the business retain staff, attract new talent and create a stronger sense of community.
Take your employees on the journey with you. You never know, they may even lead the way.
If they are shown the moves and taught the words, your employees will become the cheerleaders for your business.
3. Defining your brand gives you consistency
Unlike the big multi-nationals, your exposure to your customers is probably minimal. So, it is essential that when your customers see you, they are given the same experience every time.
Defining your brand will help you tell your story. Combine consistent brand messages and storytelling with consistent visual branding and customers will find it much easier to recognize what you do and what you stand for.
If your target audience becomes familiar with your brand, you will need to spend less money getting them to recognize you in the crowd of messages they are exposed to every day.
Familiarity also breeds trust. When something becomes more familiar to somebody, they are more likely to trust it. And that trust is the biggest reason people cite when they talk about their favorite brands.
4. Defining your brand creates confidence
Defining your brand is all about giving you, and your customers, confidence. You will have a clearer understanding of what, how and why you are doing what you are doing.
During the brand creation process, we will help you identify and analyze your key target audiences.
Understanding who they are, and why they should be interested in what you have to offer, is a valuable exercise. It will give you the confidence that you a saying the right things to the right people.
You will deliver conversations with customers, presentations in client pitches, elevator pitches at networking events and posts on social media with confidence and consistency.
And, confidence is infectious. If you have more confidence in your business’ brand, your customers will have more confidence in your brand too.
Confident customers are more likely to buy from you, more likely to want to come back and buy from you again and again and, ultimately, be prepared to pay more for what you offer.
5. Defining your brand turns customers into advocates
The best reason for creating a brand is that people get passionate about brands. Creating a brand will help customers to fall in love with you. And what do people do when they are in love? They gush!
People in love can’t stop talking about the object of that love. To their friends, their work colleagues, on social media channels. Basically, to anyone who will listen. Passionate consumers become active referrers, doing the hard work of selling your business to new customers for you. Word of mouth is more effective than other forms of marketing.
That’s exactly what defining your brand does!
Do you have questions about how you can make your brand propel your business? Join With us MSME startup summit 2nd edition and #time2Leap Award, 7th March 2020 at Manpho Convention Centre, Bangalore
Get your ticket now to make sure you don't miss out: Register Now
India is among the top five countries in the world known for startups. India owns tremendous growth in the creation of innovative startups and has become the third hub for the latest technology startups in the world.
The introduction of GST and Make in India has a variant startup economy. Indian startups are moving up and are expecting a hike in size and numbers in the coming year. It is estimated that around 4,200 startups across India generate more than 85,000 jobs. With over $5 billion worth of investment in 2015 and three to four startups emerging every day, it is projected that the number of startups in India will increase to more than 11,500 by 2020, with job creation from these entrepreneurs reaching 250-300k. The number of Investors has also risen multi-fold in the past few years.
The Startup India initiative aims to help people with creative ideas, realize their potential and help them in starting their own business. A startup India Action plan is formed up to help budding entrepreneurs in concentrating on their core business. This flagship of the Government of India aims at nurturing the Startups of India and driving sustainable economic growth.
Attending a summit can be a great way of making connections and learn new strategies.MSME Innovation & Start-up summit 2nd edition & #Time2Leap Award organized by Summetorpro Business Consultants , is an opportunity to connect with the best and brightest minds to explore how to fuel business growth. The conference brings together the speakers that are the best breed of entrepreneurs, innovators, venture capitalists, business model creators, consultants, policy-makers, academicians, support groups, business coaches and business practitioners to present and discuss innovation and success under the aegis of entrepreneurship for Small and Medium Businesses as they recount their learning and experiences, share their insights and practices that have enriched their ventures. #Time2Leap Award aims to shine a light on emerging businesses that are achieving excellence through innovation. The inaugural event celebrates and acknowledges the inspiring stories of Achievers, Champions, and Entrepreneurs who have exemplified leadership, innovation, and perseverance by disrupting the technological landscape.
MSME Innovation & Start-up summit 2nd edition have been instituted to celebrate the finest and bravest who risked everything to launch a new enterprise. It is recognition of the sweat and tears that went into shaping what will drive the nation's economic engines tomorrow. The awards salute the entrepreneurs and also seek to inspire the dreamers and daredevils in all of us.
We invite you to seize the prestigious moments with a picture-perfect opportunity that is bound to bestow upon you the best recognition well deserved indeed.