In my article My Website Isn’t Doing Anything, I talked about branding your people, but why brand your company? I find that large enterprise size businesses are always talking about their brand, but not so much with smaller companies. I believe that small business owners, don’t really think about branding much. They look at it as something big business does, because well their big!
But I think there missing the point…
The success of a any business enterprise is determined by the brand equity or brand identity. It’s more than a brand name; brand equity is the image of you, your product or service and the company as a whole in the eyes of the market your in. Several factors constitute the brand equity like your brand name, your logo, the visual impact that you project, your product mix, store location, and yes the look and feel of your website.
Determining brand equity?
Brand name is vital for building the brand equity as it is the combination of letters that customers keep in their mind as an identity of your company and it’s products. Companies need to create a brand name that matches with the product or service they provide and then nurture and promote it, to reach to the masses in your target market.
Brand Identification
Another identity for your company is your logo. Logos create high levels of impact in your customers mind in identifying the brand. The brand name is highly coupled with the brand logo, and in some cases a tag line. For any website, the visual impact created is also very critical in determining the success level of your website. The visual arrangement should convey a clear message about the features of your company and the quality of the products or services offered to your customers.
Brand Image
Companies adopt strategies to protect brand equity and to promote brand awareness. You, your product or service only becomes a brand when customers choose it over your competitor’s. Don’t confuse your customers, be consistent with your branding. Make sure it’s the same on everything, from signs, stationary, packaging, website, and anything else to do with your company.
Brand Marketing
Your actual brand image helps decide your brand positioning and brand promotion techniques to be adopted for marketing. With high levels of competition online, you need to go for innovative ways to increase your brand awareness. Using Social Media such as Twitter, Facebook, YouTube, etc. the right way, can boost brand awareness, and put your company in the lead over your competitors.
Measuring brand equity
Your customers perceptions about the quality and performance of your brand are the best measure of brand equity. If a customer decides to wait for your product when he realizes that the stocks of it have run out, or the willingness of your customer to pay a little more, is the best example of the high level of brand equity enjoyed.
So what are you waiting for, get out there and brand yourself!
Until next time,
PS. Take a look at your competition and see how their brand looks to you. Then get out there and out brand them!
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