What is company branding and why is it so important to making my business successful?
Before you answer this you first need to define a couple of things and ask yourself a couple of questions:
- What are my business and personal goals?
- Do I have expertise in a service area or a product that I believe will be beneficial to someone?
Every business owner and marketing manager has one ultimate goal: to establish their business in the marketplace to sell a prospect either a product or service they have to offer.
For those of us who are entrepreneurs, we go into business because we have either the expertise in a service area or a product that we believe will be beneficial to the market at large. Many of us start a business simply because we want to be our own boss. Whatever the case, the survival of your business is dependant on establishing yourself as a leader in your particular industry.
The aim is to help you figure out how to establish ourselves in the market that will sustain us for years to come.
How do we start? We first have to define our unique capabilities and offerings and from there determine the best approach.
In many cases, companies such as McDonald’s, Nike and Apple, evoke an emotion within you that helps you think of their product. This sounds simple but is not easy to articulate and is quite an undertaking.
These monster organizations spent years and bundles of money to do this. At their beginnings, they set up focus groups to determine the types of emotions that would end up being the building blocks of their marketing strategy. Once this marketing strategy was established, each one of these companies launched their assault on the world with a mix of media that was creative, consistent and sustainable.
Are you willing to commit to an ongoing sustained branding and corporate identity exercise? Do you have the funds to do this?
Branding costs money. The best approach is to establish a realistic budget for marketing. This is as important an element in running your business as paying your electricity bill is to keeping the lights on.
Maybe you don’t feel branding is important. Maybe all you really want to do is simply sell your product or service like hundreds and possibly thousands of others selling the same thing.
If you’ve gone through the exercise to invest in yourself to launch your business or if you are a marketing manager working for a large corporation, you should make every effort in any and all communication to the world at large to brand yourself in some way. After all, you are already spending money in reaching out so why not try to create an identity for yourself?
Even with limited budgets there is always a way to incorporate an emotion in amongst your media to help them remember who you are.
You don’t have to outspend the competition, you just have to outsmart them.