Brand development is essential in the success of business, whether it be a multimillion dollar corporation or a small business. The brand represents and conveys the purpose, strengths, and values of your company. Forbes' contributor Scott Goodson cites a simple but impressive example of the power of branding that is the U.S. dollar bill. It is a piece of paper that has been given global value though marketing and branding. There are innumerable branding strategies, but here are three tips to keep in mind while developing yours.
1) Kill two birds with one stone
While many business owners correctly focus on their company brand, they forget that a polished personal brand is an incalculably valuable asset. This rings extremely true for small businesses. A few small opportunities for double promotion are speaking engagements where you can promote both yourself and your business; using a headshot to ensure that consumers associate you with your business and its products; and refining author biographies when contributing to publications to include a little bit about your business.
2) Find both the differences and the similarities
Setting your business apart can be extremely difficult, but strategically examining and later promoting the unique qualities of your company will effectively help distinguish you from the competition. For example, list what your company does best in its field that way you can play to them and emerge as the expert in the industry. On the opposite end, establishing similarities between your company and those you intend to serve is an essential brand incorporation because the customer will automatically gravitate towards this familiarity.
3) Clearly define your brand
Ambiguous branding will not attract customers. Steve Hall's 5 step guide to branding includes a vision statement, mission statement, essence, personality, and position/value proposition.
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