A clear and confident brand identity is an absolute must if you want your customers to know exactly who you are and what they can expect from working with you. Your branding sets the tone for everything that happens after, so it’s important that an impressive message is left from day one. As a business, you'll never outperform your competition without truly identifying how your companies values compliment your target audiences expectations, creating your brands purpose.
So what aspects are important in creating brand purpose?
Brand Identity
It’s never too late to adapt a brand but if you’re just creating one, its an exciting prospect. While developing a brand for your business can be tough and tricky, it is essential to make sure that you have an identifiable and authentic message. Without this, getting customers interested or invested in what you do will be difficult because there's nothing memorable about the company.
The difficulty of creating a clear branding strategy might discourage some people from pursuing their entrepreneurial dreams. What they don't seem to realise though, is how important and beneficial having something distinguishable like a logo or slogan really is when trying to start up successful businesses with potential longevity. Your product or service has to support this though in order for them to convert.
Differentiation
There are 6 key areas to think about differentiating yourself; your product, service, distribution, relationship, reputation and price.
It's impossible to be a one-size-fits all company these days. Differentiation is the key that unlocks your potential and allows you to provide superior value through either; the price or product, the place of interaction or message that they have received in their customer journey. It can boost the overall profitability of many businesses as well as their viability in today's market.
Quality Shows
Design is probably the single most important thing you will invest in. Why? Paying slightly more for an experienced graphic designer can pay dividends throughout your businesses journey, whether this is to enhance, rebrand or create a totally new brand.
Think about it, once you have created your brand this will be everywhere you want to showcase your business for years to come!
But Why?
If you have a business idea and want to make it successful, one of the most important aspects is really explaining your “why”. Some people might think that they're explaining the “what” and “how” well, but are you really communicating the "why" effectively? That's what sets businesses apart, there are those that are simply trying to provide a product or service and then there are those who can offer their customers more than just product or service—they can identify with the brand and offerings, so there is more of a brand purpose. The “what” of the product or service you are providing and the “how’ in which this is going to be provide, are usually covered by most businesses. Think about the “why”.
Brand Loyalty
Promoting your brand to your customers, at the right time, in the right place is the foundation for a profitable business. When you've worked hard to acquire customers, working hard to keep them is probably the most profitable thing you can do.
Post-purchase remarketing advertisements are a cost-effective way to promote your brand and increase conversions. These are typically through paid ads or email campaigns but there are a whole host of ways of retargeting today.
A targeted advertising campaign will focus on those who are already interested in the company or product, meaning you’re spending budget on customers that you know have some form of interest in your brand and are therefore more likely to convert. You can retarget customers using cookies, allowing you to serve ads across multiple platforms and never miss an order, improving the overall ROI.
There are many ways to promote your business but it’s just as important to post-purchase. Are you going to convert your new customer into a loyal customer, so they keep on coming back? This is what sets apart a profitable business from a cash cow.
Set up an account with Siid and create a branded page where customers can track their order.
