5 steps to Build a Successful Brand Identity
What is the first thought generated by a human brain when “brand identity” is spouted out? An average human brain would immediately respond with a logo or slogan. If you do not wish to fall under the label “average”, there is a need to develop a holistic understanding of brand identity.
Brand identity encompasses elements such as logos, typography, colors, slogan, packaging and messages, which collectively establish a unique perception in the minds of the customers. It is imperative to build a promising brand identity in order to grow as a distinct and successful brand. The following five steps can serve as an important guideline in building an effective brand identity:
Research & Strategize
Most amateur entrepreneurs fall prey to their exceedingly enthusiastic approach while initiating a brand. They tend to avoid market research with the intent to improvise business processes over the course of operations. An effective market research will assist in understanding profound questions pertaining to the brand such as:
• Who is the target audience?
• How will you be perceived in the market?
• How will you differentiate your brand from others?
• What are the characteristics associated with the brand?
• How will you create a market for your products?
Addressing the questions along these lines will aid in smooth formulation and implementation of strategies while building a brand identity.
Create a Distinct Value Proposition
Brand identity conveys the value proposition of products & services to customers. Successful entrepreneurs tend to propose a distinct value proposition in order to stand out in the customer’s perception. Specifically, a distinct value proposition deduces the reason behind the purchase decision of customers. Will your products be more dependable? Will they be cheaper or expensive in the market? Such questions aid in pinpointing the characteristics of the brand.
Choose Brand Name, Logo & Slogan
In the next step, brand name, logo and slogan should be selected in a manner that clearly conveys characteristics of the brand. Moreover, establishing a distinct image of each product is effective over simply attaching the brand’s name.
Embellish your Brand Name
Trivial, yet relevant embellishments to your brand name can effectively establish connection with the customers on a subconscious level. Companies are known to use specific colors such as red or green to signify alarming or environmental causes, respectively. Additionally, companies like Nepal Telecom have attached a musical piece to convey a differentiated message to the customers. Such embellishments help in building a strong brand identity through the means of non-verbal communication.
Conduct Brand Audit
It is essential to conduct periodic audits to ascertain a brand’s position in the marketplace. An effective way to conduct brand audit is through the use of a business tool called “Perceptual Brand Mapping”. Perceptual brand mapping is the graphical plotting of brands against X and Y axes, each representing the characteristics that influence brand selection. These characteristics can be defined by collecting information through customer surveys and market research. The obtained results can then be assessed with the target objective and improvised accordingly to enforce brand identity.
