Establishing a brand identity. How do you establish your brand identity? What goes into establishing a brand identity? The following are 4 key factors to consider when developing your brand strategy.
“Strong Brands are built on unshakable values and authenticity.”- Simone Smith
What is the most memorable brand of the 21st century? Apple? Nike? Jordan? McDonald’s? Coca-cola? Ford Motors? It will probably be hard to decide. But they all have something in common: they have spent decades interweaving their brands throughout American history and culture.
Logos represent more than a symbol to identify a company; they represent core values and principles that resonate with people from all walks of life.
When you think of Apple, you don’t just think of Tech company; you feel “innovation.” When you see an athlete wearing Jordan gear, you naturally conclude they are among the best of the best, among the elite of their respective sport.
More than Sales - Market for Generations
Anyone can provide a product or service. But who can develop a lasting impression that will resonate through the consumer market for generations?
When it comes to branding, you cannot Fake the Funk. Deciding on a logo to represent your company or business is one thing, but it takes work to imprint your brand in the minds of consumers permanently.
But this gives entrepreneurs that understand this an edge over their competitors. Therefore you must be patient yet diligent in building your reputation.
Identifying your Consumer Base
To create a household name, you must first identify which households you want your brand to live in; This requires gathering as much information as possible about the specifics of the market and consumers of said product or service. The better a company can specifically identify its consumer, the better it can curtail its advertising and marketing to resonate more deeply with consumers.
“laser target your hottest prospects so you aren’t wasting any money and time on tire-kickers and looky-loos.”(Fong)
Significance of Authenticity
To double back on the importance of being authentic with your brand's identity, I quote Steve Stoute.
"Trends come and go, but cool is forever." (Stoute)
The one who follows the trend is only exercising their ability to conform, but the one who separates themselves from the herd is the one they will follow. You cannot fake being cool, just like you can't fake having a quality product or service. But how do consumers determine whether your company is authentic and genuine in providing its product or service?
Simple, it is determined through consistent, genuine interaction with consumers. "The agencies most successful in new business are those whose spokesmen show the most sensitive insight into the psychological make-up of the prospective client. Rigidity and salesmanship do not combine." (Ogilvy)
For instance, it is easier to go viral than to produce quality content consistently. Going viral too soon can be dangerous to the longevity of one's brand or career. To be considered "authentic," you must have a history that consumers can reference. Why? Because no one can go viral forever.
Social media is a powerful driver of brand awareness. However, "Most entrepreneurs starting do not have a vast amount of capital and resources to pull from.
Therefore, it is critical in the digital age for startups to "intelligently reallocate their scarce resources to achieve breakthrough growth" (Fong). Therefore in this day of the Tech Boom, the biggest winners will be the entrepreneurs who can maximize their presence in the market with the resources our society has to offer.
- Brand Identity 101: How to create a brand you'll love. Kim. 2022. Looka.com
- Brands: Types of brands and how to create a successful Brand Identity. Will Kenton. 2022. Investopedia.com
- Confessions of an Advertising Man. Ogilvy, David. Southbank Publishing 1963
- Growth Hacking: Silicon Valley's Best Kept Secret. Fong, Raymond. Riddersen, Chad. Lioncrest Publishing 2017
- The Tanning of America:How Hip-Hop Created a Culture That Rewrote the Rules of the New Economy. Stoute, Steve. Avery; Reprint edition 2012
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