In the modern era, the word “brand” is one that seems to be thrown around fairly frequently. In many cases the word is used in place of “company” or “organisation”. The truth is that a brand is actually far more. A brand takes in all the elements that you communicate to your audience and goes beyond its name, catchphrase and logo. While the aforementioned factors are important, a brand must most also consider the feeling it gives to people when you present yourself to them in a specific way.
The name, catchphrase and logo must be created on the essential elements that one must consider when creating a brand. At its core, a brand understands what its specific customer needs and then delivers in an effective way. This does not happen overnight, as a long term brand strategy must be developed and implemented first. In order to construct this strategy, you must first understand what goes into a brand. You must comprehend the most vital components.
The Most Important Elements of a Brand
- Purpose: Before anything else, you must know exactly why it is you do what you do. You can create the best items in the world, but without a focused purpose you will not deliver on your goals. Nike is not successful because they create optimal results Their results are the outcome of understanding their purpose in the market, and how they can deliver on it. Knowing how you fit in the grand scheme of things will allow you to realise how you can make an impact that is unique to your competitors.
- Target Audience: Alongside its purpose, you must map out exactly who it is you want to reach with your brand. This is your most likely buyer and must be who you market towards. Your target audience may be large or small and both come with advantages and disadvantages. A large target audience gives you a wider potential client base but with less focus on specific needs. A smaller audience on the other hand lets you ensure that a niche desire is met but in a compact prospective customer group.
- Identity: Knowing why your company operates and who it operates with gives you a good basis to present yourself in a specific way. A brand/corporate identity refers to the way a business presents itself to the public. Your brand can be colorful and creative or simple and serious. No matter what your identity is, it must be consistent. For example Apple has found huge success with their modern and advanced identity, while a corporation such as Coca-cola focuses on a more fun perspective.
Building a brand is not an easy thing to do. It takes time and effort, and even then it may not work out the way you had planned. The 3 elements mentioned above are just a few factors to consider as there are a plethora of other ingredients that need to be recognized. The team at EditMe is highly skilled in this entire process.
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