A brand is not only an eye-catching logo, tagline, or business cards, it is much more than that. Branding is important as it speaks about your business when you are not around to do so. It is all about getting recognized and having a loyal customer base who trust the quality of your product or service offerings. The five key elements of a successful brand are the promise, position, personality, story, and association. Let’s understand what they mean.
1. Brand position
Brand position involves the key aspects of a business and refers to the place which a brand occupies in the minds of consumers. It deals with the company’s products, target audience, and long-term goals. Effective brand positioning is possible only after studying these aspects carefully. It is also vital to list the unique traits of the company which you want to project to create a positive impression of the company in the consumer’s’ mind. A brand differentiates the company from its competitors by providing a unique identity.
2. Brand promise
A well-known brand maintains its commitment consistently. The company should know about the expectations of the employees, customers, and partners. The business should always deliver its products and services while keeping their brand image and customer expectations in mind.
Be careful about your activities on social media. What you post on various social media platforms about your business needs to be regulated. Your customer will relate these posts to your brand image and form an impression accordingly. Your business policies should not contradict with the picture you try to make.
3. Brand story
A brand story is a cohesive narration about your business and its offerings which inspire to generate an emotional reaction and positive impression. You should project unique features of your company that the consumer can relate to based on your brand story. A brand story is a powerful tool and should be utilized effectively for branding.
4. Brand personality
Brand personality refers to the traits by which the company should be known inside and outside the organization. The attributes should showcase your business in the most appropriate way. When you design the visuals of your brand, highlight the values and beliefs of the business. Choose some keywords that describe the products and services of the enterprise most effectively. The personality of your brand should remain consistent, but the projection tone can be modified depending on the medium. For example, your tone will be serious when you talk about your brand with stakeholders, but when you try to reach your customers, the tone should be more friendly.
5. Brand associations
Your brand’s unique traits and its promises are reflected in your brand associations. It is something that is deep rooted in the customer’s mind about the brand. Brand associations also refer to the attributes of a brand which helps in projecting a brand positively. For example, BMW is associated with superior engineering and sophistication. Similarly, brand association with owners like Bill Gates and Microsoft, Steve Jobs, and Apple elevates the popularity of the brand manifold. A positive brand association is vital and restricts your competitor’s entry into the market.
The brand image of your business helps you to reach your target audience effectively. It also helps you to give your business a unique identity.
