A popular brand designer Walter Landor said, “Products are made in a factory, but brands are created in mind.” The importance of building brands can be understood by a simple everyday example. Suppose you want to buy chocolates for your friend’s birthday; there will be certain sets of brands like Cadbury or nestle that will instantly come to your mind.
This example makes it clear that brand building is responsible for influencing consumer perception and ultimately will help you differentiate yourself from your competition. This clears the idea that brand building should be one of the primary concerns of entrepreneurs.
Wondering how you can build your business brand? Don’t worry! We have come to your rescue. This article will provide you with 5 easy brand-building steps included in the branding process but let’s first start by reading about what brand building is.
What is Brand Building?
As we know, having a successful brand is one of the important aspects of your business development. Although the brand building does not have any proper definition, according to many marketers, it is the creation of customer value through different promotional strategies and campaigns.
Now that you are clear with the definition of the brand building, let’s move forward to look at a few easy steps of the branding process.
Steps of Branding Process
1. Identify Your Target Customers
If you believe you do not have a defined set of target consumers, or the whole world is your target audience, then you are probably not focusing on determining your customers. There have been various studies determining that clearly defined target clients help bring profit to the company. In fact, the narrower the focus, the faster the growth will be and vice versa.
Filtering your customers on the basis of their age, interest, demographics, behavior, gender, etc., will prove helpful in customizing your mission and message to meet their needs.
2. Determine Brand Purpose
The vision and mission of your organization should depict the purpose of your business’ existence. This will help you present an authentic image of your company in front of your customers. Everything from your brand logo to the tagline should reach your audience in a positive light.
The answers to questions like “why have you started your business?”, “what are your goals?”, “what is the purpose of your brand?” etc., should be on your tips. This is because this information will form the foundation of your branding through slogans, taglines, messaging, stories, and much more.
3. Research About Your Present Competitors
It is preferable to conduct thorough research into your competitors and determine what they are offering to their customers. After this, think about how your business can provide better products or services or what can make your business stand out in the crowd.
In case there are a large number of competitors filled in the market, try to tweak your branding process with different communication strategies. This will be fruitful in making your customers convinced that you are the best amongst the crowd.
4. Market Your Brand
The brand managers should actively participate in marketing their brand by sponsoring events, participating in numerous promotional events, and indulging in various marketing aspects and business facets. It is important for your brand to stand out and leverage its USP’s qualities and other crucial factors.
Use different promotional channels like social media, blogs, websites, magazines, newspapers, etc., continuously to promote your brand.
5. Create a Tagline, Logo, and Other Elements
This step of the branding process involves working on the tagline, logo, fonts, typography, etc. These aspects should be enticing and eye catchy to grab the attention of your customers instantly. It should be kept in mind that these logos and taglines will be incorporated into every promotional material and marketing collateral.
Let Razorpay Help You in Your Brand Building Process
While customers can easily trust the retail stores because they are physically accessible, the online business functions the opposite. Consumers usually pay first without establishing any kind of trust with the brand.
The Razorpay trusted business badge helps customers to trust the business they are shopping with. Razorpay adds a trusted business badge to the payment page to let customers know that they are shopping from a secure website. On top of it, the best part about this trusted business badge is that it needs to be earned.
There aren’t any shortcuts to getting Razorpay trusted business badges. Once the business verifies its operation with the Razorpay ecosystem, it undergoes thorough standard checks as per the protocol followed by Razorpay; the business would only get the badge once they pass all the tests.