Products are really hard to sell if not marketed, labeled, themed, and shared correctly. Without these key ingredients, you could fall victim to having a good product cooked from a bad recipe. This is where a brand development agency can help. Branding is difficult to manage on your own, so getting help may be the next step you need for success. Here are some helpful basics of brand development.
What is a brand?
Summarized, the brand is what differentiates you from your competitor. It explains to the public what makes your product different then everyone else’s. Your brand explains what to expect from your services and should be derived from who you and your goals are and what you want the public to see you as. Your brand includes your logo, name, theme, and slogan.
What are the benefits of branding?
Most of us while shopping can see a brand and associate good or bad qualities to the intended product of purchase. Many products fail solely on branding itself. Here are some quick benefits to branding from the buyer and seller’s perspectives.
From the Buyer:
- The buyer can identify the product as a like or dislike.
- The buyer could see a rewarded interest in owning the brand (ex. Ferrari or Rolex).
- It helps reduce the time needed for a purchase.
- It helps the buyer’s perceive the risk of purchasing the product.
- The buyer can evaluate the quality of the product within seconds (especially if the brand is unknown to the buyer).
- It helps the buyer be able to judge the characteristics of the product.
From the Seller:
- It differentiates the product from its competitors.
- The company can introduce a new product line and use an existing brand or brand template which reduces the need for a new design or brand.
- The brand helps recognize the company’s products which make repeat purchases much easier.
- Brands help divide the market by creating specified images for sale (ex. Lens Crafters).
- It lowers designs, commercializing, and promotional expenses.
How do you define your brand?
Defining your brand can be difficult and overwhelming. You need a plan to help find your business through exploration and discovery. A brand development agency can help, but to find your brand some questions should be answered.
- What are the mission statement, goal, and objective of your company/product?
- What are the main components, features, opportunities, and services of your product (s)?
- What should your consumer think about when they see your company? What’s the perspective you desire from your customer?
- What differentiates you from your competitor in not only product, but branding?
How do you develop a brand strategy and brand equity?
After being able to answer the questions above, you should be able to now work out a few more important parts to branding your company. The next steps involve getting the word out and creating a brand strategy and brand equity. A brand strategy can allow your company and products to get noticed and marketed to the general public through innovative and creative concepts. For example, a brand for designer watches could have a brand strategy that focuses their design on being affordable and sophisticated. Brand equity allows the consumer to see your product and give it a positive association which gives the brand significant value. For instance, when branding Barbie, the color pink used in its branding is associated with females and therefore attracts a positive perspective in most cases on the female audience. Developing a brand equity and brand strategy can be complicated, but with the help of a brand development agency you can create your desired brand ideas in no time.
What should be essential in my brand?
Your brand is your baby. Losing it just because of its look, design, appeal, and taste is something no person wants to deal with. Therefore, creating a brand relationship which appeals to the general audience is pertinent in making your services exceed towards future success. To create your success, your brand should be…
- Daring: Your brand should be different than every other brand around you. Why is your product better than your competitor’s? It should explain how your product should be used over other products.
- Authentic: People want a product that is real. No one wants a product that is a joke. Make your brand relatable and authentic.
- Attractive: Make your product appealing to everyone’s eye. Aesthetic appeal goes a long way in branding.
- Necessary: Why do people need your product? Make it necessary for other to have.