With entrepreneurship sky rocketing, the more and more small and medium-sized businesses are opening. Branding has become a major component in success of these businesses.
It is easy to forget how important branding is to a company. To build the reputation a company wants and needs, you have to understand how to build a brand. As stated in Entrepreneur Middle East, Keys to Brand Building: Innovation, Integration & Identity, there are 5 keys to building a brand.
1. Create a Real Mission Statement
Knowing what you stand for can lead your company in the right direction. Develop a one-sentence summary that states how you do business instead of what you sell. A mission statement should express the goal of your business.
For example, Google’s mission statement is “to organize the world’s information and make it universally accessible and useful” or Amazon’s statement, “to be the earth’s most customer centric company.”
2. Develop Your Brand and Reputation Around That Mission
Now that your mission statement is created, it is time to build your brand around that statement. Everything that is created should align with the vision of the brand.
3. Know What Others See
While developing your brand, it is important to determine how others see it.
For example, you might think adding yellow to your logo is bright and fun, but to others it may remind them of Big Bird and associate your brand with childishness. That is why it is important to keep an eye out on what other people are saying.
4. Maintain a Strong Relationship with Your Clients and Customers
Sometimes the best feedback comes from those you work for (customers and clients). Make sure you maintain loyalty to your current customers and create an environment where they can be honest with you about the brand.
5. Embody Your Brand, But Don’t Be Afraid to Adapt
Remember, consistency is key to developing your brand and reputation, but do not be afraid to grow with the new trends. There are many ways to keep your business up to date while sticking to your mission statement.
Branding is an important aspect of your business, but branding cannot be successful without a clear mission statement and attentions that back up that statement.
Additional Branding Resources:
Is Your Package Hurting Your Brand? (IDeas BIG)