Building a Brand
Building a brand is so much more than just putting together a logo and making a catchy tagline—it’s a lifelong commitment to your buyers and users. You must stay true to your brand to thrive in an ever-changing retail environment. Your brand is an important component to building your company’s strength, equity, and value while setting you apart from key competitors. Below are some key insights into building and maintaining your brand.
- First and foremost, you MUST know who you are. What sets you apart from key competitors? In addition, it’s essential to understand the worth of your products and why your customers should want to buy your product or service. What is your value proposition?
- Set boundaries and clear guidelines to eliminate concerns about your brand positioning in the market. Controlling core brand elements such as consumer messaging, logos, and brand colors will set a clear tone for your company and others to use.
- Don't be afraid to ask your customers for help, especially through social networks. Consumers know what they want and will look elsewhere if your brand doesn’t cater to their needs. By respecting a customer’s opinion and engaging in a conversation, you build a relationship of trust and respect—the foundation of a long-term customer relationship.
- Compare, track, measure! Understanding what works and what doesn’t for your brand is essential. Make goals for your team, and constantly review and measure your success. There’s no way of knowing what needs to be changed unless there is a metric for success and failure.
As a final thought: your brand should always embody one shared vision that can be easily communicated to your employees and customers. The strength of this brand message will provide a foundation for your business to grow.