Did you know 43 percent of consumers in the United States spend more money at brands they are loyal to? Clearly, there’s power (and profit) in branding.
If you’re a business owner, one of your primary goals is to transform the business into a good brand. But what makes a good brand? Why does it look like some companies are able to effortlessly build super brands while others fail at branding, no matter how hard they try?
In this article, we’re sharing what it takes to build a brand your customers will love and be loyal to. Keep reading!
What Makes a Good Brand?
Every brand that has made it has its own blueprint. No two pathways to successful branding are the same, but there are telling similarities. It’s from these similarities you’ll learn what all the best brands have in common.
For starters, all good brands know their target audience. This is where you need to start. When you have a clear picture of who your target audience, you’ll be in a better position to custom-build a brand for them.
For example, if your target audience largely comprises people who are passionate crusaders of environmental conservation, you would be out of order to build a brand that doesn’t value the environment.
A good brand has a clear focus, mission, and vision. It has a consistent identity both offline and across multiple online channels.
Importantly, a good brand has a compelling story behind it. This is usually the founder’s story. How the company was born and the reason behind its birth.
How to Build a Good Brand
Building a good brand is easier said than done. Many have tried and failed, sometimes spectacularly.
So, what does it take?
You already know a good brand knows its audience, so you need to know yours too. Knowing your audience isn’t just about having a broad idea of who your target customer is. You need to go deeper and establish their age, gender, household income, hobbies and interests, geographical location, spending habits, education level, and more.
Next, develop a mission and live it. Of course, the mission should be relevant to your industry and products or services. If your mission is to better the environment, let it be seen through your corporate actions that you’re indeed bettering the environment.
The physical experience you give your customers also goes a long away in defining your brand. If you have a physical store, focus on giving your visitors the best experience.
Keep wait times short and light up the ambiance. A company like AV Structural INC can install audio-visual equipment to help improve the atmosphere.
Lastly, the key to building a good brand lies in your expertise. If you’re a branding specialist, you have a good chance of building a strong brand. But if you aren’t, it’s advisable to outsource the task to a professional.
You Can Build a Good Brand
Building a good brand is the dream of every entrepreneur. If you were asking, “what makes a good brand?” you now have the answer. What’s more, you also have a couple of tips you can use to build a good brand.
Stay tuned to our blog for more branding tips and insights.
