In a Highly Competitive Market you Need to Stand Proud
What is a brand strategy?
This is crucial and starts at the very heart of our discussions. You need to know where you want to be. A difficult question to deliver a focused answer. An effective brand strategy gives you a major edge in increasingly competitive markets, but what exactly does “branding” mean? Your brand is your promise to your customer. It tells them what they can expect from your products and services, it differentiates your offering from that of your competitors. Your brand is derived from who you are, who you want to be and who people perceive you to be.
Are you an innovator in your industry? Or the experienced, reliable one? Is your product the high-cost, high-quality option, or the low-cost, high-value option? You can’t be both, and you can’t be all things to all people. Who you are should be based to some extent on who your target customers want and need you to be.
The impressions of branding
The First Thought – A brand identity is all the elements a company creates to portray the right image to their customers. We decide what clothes to wear and what interests we have, the combination of all the elements of brand is its brand identity. It is the key that make a brand or product instantly recognisable to customers; the first thought.
The First Impression – The saying ‘first impression is the last impression’ is important for companies to understand when creating their brand identity. People judge the ability of a company to provide solutions to their concerns. Customers would expect the same experience at every interaction. A company needs to always show themselves in their best light to stand out from others with similar products or services.
A Lasting Impression – A well-designed brand is key to the growth of a business. Everybody wants to be unique, everybody wants to stand out. A strong identity shows who the brand is and what customers can expect. It makes a business memorable in the minds of a consumer and keeps them coming back for more. A well-designed identity helps develop a long-term feel to the image of the business.
The power of re-branding
It is important to stay current in today’s age with changing consumer trends. Rebranding reflects the new goals and values of the brand as it grows. It allows a company to stand apart from competitors and become successful pioneers in a new movement. Whether it is small change, or complete face-lift, rebranding helps to mold the perception of a brand. It is a great opportunity to reaffirm the identity and brand values. Rebranding a company’s image is not a step back, but a move forward in the right direction; to grow and sustain.
Look at your peers
Are they looking at you? If the answer is, “No”. Then maybe they don’t see you as competition -for the good or bad – Are you setting the benchmark within your industry landscape? Would you like to? How are you perceived in the market? How would you like to be? A quick impartial glance at your peers will highlight any weaknesses and strengths to build upon.
If you are ready to discuss the success of a strong brand and give your business a future, contact our team for a free consultation.
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