Brand ownership is more than just a company logo; it’s what a consumer feels when they see that logo. Developing values and trust of your brand takes a lot of consideration and time.
Your brand is what attracts people to buy. Is it the marketing of your brand and how it visually appeals to customers, or the type of consistent and reliable service that keeps them coming back for more?
Develop a relationship with your customers to build trust in your company. Communicate effectively and persuade them by being clear and transparent with all of your messaging. After a relationship is built and maintained, your brand will appear trustworthy and earn loyalty.
Defining your brand also helps to differentiate your company from the competition. Which brand does your mind go to when you hear “smart phone” or “fast food”? A few distinct companies stick out more than others because of their branding, giving these companies a competitive advantage.
Think of some of your favorite brands and what draws you toward them. Is it the fun and delightful advertisements they put out, are they more consistent with quality than their competitors or how they exert their values through sponsorships and corporate social responsibility? Determining what drives you to make a purchase will help you decide what is most important for the consumer you are targeting.
Here are some resources to consider when branding. Take a look at last year’s brands to see how they are leading the competition:
How to build a brand for small businesses: http://www.marketingdonut.co.uk/marketing/marketing-strategy/branding/ten-ways-to-build-a-brand-for-your-small-business
7 Steps to Create a Killer Brand: http://www.businessinsider.com/how-to-create-a-killer-brand-2013-8
Don’t let your brand lose its luster: http://www.entrepreneur.com/article/231591