Today’s era belongs to innovators and entrepreneurs who are changing the world for the better. As advanced technologies are getting more and more affordable and invaluable resources becoming easily accessible, the leaders and thinkers are limited by their own imagination only. However, the startup industry that’s essentially become the bloodline of this global transformation is also facing massive competition. If you are troubled by this problem yourself, then you can emerge as a leading business by working on branding.
You may not know this, but brand image matters more than you think and it’s extremely difficult to survive the market competition unless you have a unique and well-established brand in place. That said, you can easily achieve this feat by avoiding these common mistakes:
1) Working with Limited Knowledge
Most people are aware of the term “branding”. However, the knowledge on the subject is still limited in most of them. For instance, most people think that branding means a logo which only goes to show that “a little knowledge is a dangerous thing”.
A logo is a visual entity which is used to market and promote a business. However, branding encompasses everything that a company needs to create an identity in the market- mission, vision, values, personality, tone and voice. Even the actions that a company takes are a part of its brand. So, while a logo is certainly an important part of a brand, it’s not enough for a business to set itself apart and grow.
2) Becoming a Victim of Brand Dilution
As an ambitious entrepreneur, it’s a good thing if you want to experiment with new products and services and take risks that stand to elevate your business to the next level. However, it’s also important to be cautious as you may end up weakening your brand’s identity in the industry by trying to do many things at the same time.
A good example of brand dilution is how Harley Davidson tried to expand its business by offering branded merchandise viz. jackets, t-shirts, lighters, etc. This idea proved to be successful as it was in line with the brand. However, when the iconic motor company started offering perfumes and aftershave lotions under its brand, it only invited frowns and criticism. This is because these products don’t actually reflect the brand’s personality which is about being tough and earthy rather than smelling nice and fresh.
3) Ignoring Brand Experience
One of the best ways to generate more leads through Facebook marketing or rather any kind of digital marketing is to provide the best customer service. You need to remember that the experiences that your customers/leads share with your brand have a long-lasting impression on them, and the same is communicated to their friends and families on these platforms. So, if you are failing to check the quality of customer experience that you are providing today, then it’s possible that you are hurting your brand without even knowing.
4) Failing to Target the Right Audience
As a freethinking and independent entrepreneur, you are free to create a branding strategy as you please. However, it’s critical that your target audience is always at its core. After all, there is no point is building the perfect brand that tries to sell to the wrong people.
Remember, if identifying the target market is important to a company, so is structuring the brand around the same so that all the resources are utilized in the best manner possible.
5) Developing Brand Inconsistencies
The key to building a strong and unique brand is promoting the same message, brand voice and personality across all channels whether it’s social media or blogs, sales videos or email newsletters. On the other hand, allowing for brand inconsistencies can harm your position in the industry by making your customers confused about your business model and the core messaging that may otherwise give you a special place in the market.
Developing a brand from scratch is no mean feat. You have to create an actual strategy, allocate appropriate resources, invest time and energy, and execute the plan to meet specific goals. Even after doing all this, there is no guarantee if your efforts will bear fruit. So, if you are able to succeed, then you should do everything in your capacity to protect your brand and avoid the mistakes that are covered above. It’s also a good idea to take stock of your brand’s performance from time to time so that you can identify emerging problems (if there are any) in time and prevent small issues from snowballing into a massive resistance.