If you want your business to last for the long haul and become successful, it’s imperative that you focus on building your brand. Chances are someone is already selling the same product or offering the same service as you, so your brand has to bring something else to the table to be competitive.
Many startups make the mistake of focusing solely on generating profit while undervaluing the importance of building their brand from the beginning. While focusing on building your brand may not appear to have immediate benefits for your business, the long-term implications can make or break everything you’ve worked so hard to achieve.
An influential brand communicates the personality of your business, your core values, and what makes you different from your competitors. Let’s take a look at several brand assets that every business needs.
A powerful logo
Every brand needs a powerful logo, and it needs to pop in a big way. Your logo needs to be immediately recognizable and memorable. You want customers to see your logo and immediately associate it with the core values of your business. One way to make your logo stand out is by choosing the right color scheme.
Research shows that colorful logos have been known to increase brand awareness by 80%. Our brains recognize colors well before we attempt to decipher words, therefore choosing the right color for your logo is imperative.
A memorable name
Picking the first name that comes to your mind simply won’t do when it comes to naming your brand. You need to give it some thought. Your brand name will communicate the values of your business as well as the tone. Your brand name should be memorable.
When it comes to naming your brand, you can focus on a more traditional name, such as naming it after the owner (For example, “Brandon’s Diner”). But you can also be more creative, inventive, and imaginative. Take the brand name “IKEA” for example. There’s nothing of its kind and it’s instantly memorable due to its creativity and uniqueness.
A promotional strategy across all platforms
Practically every business promotes on social media platforms. However, good brands create well-rounded promotional strategies that encompass all channels. That includes social media, search engine advertising, and even traditional marketing such as flyers and billboards.
Simply promoting on social media can bring short-term success, but it’s a well-known fact that advertising across a wider range of channels will bring about long-term success. You’ll be able to reach a much wider audience, so even if one particular channel dries up, others will still remain.
Building your brand…
Don’t make the mistake of neglecting your brand as many startups do. Your long-term success depends on how your brand is perceived. This takes time, so dig in and put in the work. You’ll be thanking yourself years down the line when your brand becomes well-known within your industry.
If you’re unsure of what brand assets to implement for your business reach out to me. I’m a serial entrepreneur with several multimillion dollar businesses under my belt. I know what I’m doing and by the time I’m done mentoring you, you’ll know what you’re doing to. Contact me today to learn more about what I can offer your business!