Online Brand Development: 6 Powerful Steps to Build a Strong Brand Identity.
Having a strong online presence is something you should dream about, but first you need to set the foundation. Consider these important considerations for yourself: what will my brand stand for? If you don’t know what you are attempting to market and to whom, you won’t succeed in your endeavors.
A brand value proposition is a succinct declaration that highlights the special qualities and advantages your brand provides to the intended market. It lists the benefits that customers will receive from selecting your business over rivals. The brand value proposition highlights the special attributes, advantages, and differentiators of your company that make it appealing and important.
The Importance of a Strong Brand Identity;
While a strong brand will influence consumers to choose your product or service, it will also help to keep existing customers loyal. A strong brand identity will set you apart from your competitors, convey your values, and build an emotional connection with customers.
Brand vs. Logo
A common misconception in marketing/advertising is that your logo is your brand. And if you think that, you’re not entirely wrong. The main difference is that brand identity is an umbrella term for your whole brand, and your logo is a category under that umbrella. Your logo is an introduction to your brand, not your brand itself.
How Do Brands Benefit Consumers?
A lot of brand identity is relationship building. Establishing your brand over time fosters credibility; your brand consistency will show your personality so your customers can recognize you. What happens after recognizability? Trust. Customers want to do business with a company they trust. When you have a strong, consistent brand, your customers will feel safe and confident coming to you to meet their needs.
What Is the Importance of Branding in Business?
For your business to succeed, maintaining your brand identity is essential. Your brand consists of your design and logo, as well as the way you market your goods, engage with clients, and appear on social media. It also includes the material you create and the way you (verbally and physically) embody your ideals.
Your brand is the key identifier for customers and competitors to recognize your business’s who, what, why, and how. It validates your position as a thought leader in your industry. At Digi Dervish, we specialize in social media marketing, social media management, search engine optimization, and content strategy, helping you cultivate and strengthen your brand identity for lasting success.
6 Major Benefits of a Strong Brand
We know branding is essential for your business, so let’s take a deeper look at how your business can benefit from creating a strong, established brand.
1. Brand Recognition
Branding is what is considered an affiliation with your company. If there exists a robust brand image, then the consumers will remember you and associate your brand with your products and service offerings. Brand recall is also essential in marketing and advertisements. Whenever you see a polar bear with a red scarf in a commercial, 9 out of 10 chances, Coca-Cola is the first thing that comes in your mind.
We might have said something like, “I’m loving’ it,” and you may have thought about McDonald’s .In fact, it is most probably some jingle which was used to brainwash you into thinking that. We quite automatically and systematically stereotype brands on the basis of their sound and visual elements. And this is what branding is. Your business will gain prominence and popularity in terms of its recognition when both your customer’s and your competitor’s minds will register your business’s name.
2. Establish Trust to Gain Credibility
To gain the trust and confidence of others, one must also be dependable. While simply acknowledging a name or a brand makes them credible. Most Brands become known to be one of those “Brands” within their respective industries when they are frequently seen by consumers and other businesses in the same industry. Besides, 81 percent of the people stated that according to them, they could buy something from a brand only if they had trust in them.
When building a brand, it is more of a marathon and less of a sprint in which reputation and trust needs to be cultivated. Being external and confident about one’s brand helps in acquiring power in the respective field. Thus, a person or company will be trusted by both clients and competitors.
3. Confidence in Your Mission
What excites you about going into business? What makes you do what you do? In addition to that, why should anyone care? According to 88% of people who have a preference for any brand, the most important reason they do so is the brand being ‘authentic’.
And your mission is one of the ways you can show authenticity. Your brand image makes your mission stronger. When you believe in the tenets of your brand which is the soul of the business, its mission remains intact. Have a yelp for your business and share with everyone!
4. Make and Keep Loyalty
Your business will get patronage from people if you are convinced of its viability and project this outwardly through your branding. One of the many advantages of branding is that a brand that customers are fond of inspires loyalty and further recommendations of the brand to other customers. A strong brand creates its own brand ambassadors.
Voters that adore your brand and its mission would desire to invite and share for a larger audience. This way, you will not only keep your loyal customers but will also earn income that is much higher.
5. Decreased Price Sensitivity
Reduced price sensitivity is the change in price that affects a consumer’s behavior, especially for customers who are brand loyal or attached through emotions to a certain product. Customers tend to possess attachments towards certain brands that make them appreciate, quality, experience or the brand itself even if, it means, foregoing concerns over the costs or in this case price increases making it premium options.
This trend can help such businesses to optimize their pricing practices by allowing them to cut down costs without losing consideration of customer retention since these type of customers tend to remain with the same brands regardless of changes in price.
6. Significance of Personality
A unique brand persona provides a competitive edge to the organization, engages the target audience, aids in marketing communication, helps in customer retention, and enhances the value of the brand. The objective of this exercise of creating a brand personality is to encourage the desired actions from the consumers that will support the brand. The consumers would spend money on the products of the company which shares similar brand periscope with them.
