You Brand, I Brand, We all need to Brand!

Many individuals are under the impression that starting a business is primarily focused on funding, product development, staffing, and etc.  While those are important elements, they are not the only keys to business success.  Actually, they can be considered less vital in the beginning stages than one important key that captures your audience and brings in your consumer base.   The key I am referring to is “branding.”  Branding can be defined as a company’s representation to the world.  This involves the name, the logo, and other descriptors that determine how the customers will perceive the business.   When you look at major companies like Nike and Apple, they have clean logos, appealing advertisements, and creative designs that entice you to buy one of their products.  They act in what is called “smart branding,” that builds a reputation noted by quality.

Branding establishes a company’s look; therefore, bad or inaccurate branding can create an unfavorable image to the consumer world.[1]  People may not be able to grasp what the business is about; they may view the business as unsophisticated, or they may miss seeing the value in the products that the business is trying to offer.   Effectively communicating your business through smart branding gives the company a clear identity and an image that is appealing to the target audience.  In an article posted online by The New York Times, it stated, “Branding of a small or emerging company is key to business success. Dollar for dollar, it is as important and vital as any other early step.”[2]  What is the takeaway? Effective branding is key to the success of any business.

Here is a quick checklist provided by the same article in The New York Times to help you with branding effectively:

• Think analytically. A brand should provide something that warrants attention on a consistent basis— something your audience wants and is not getting from your competitors.
• Maintain your brand. One rule of thumb is that when you start to become tired of your logo, tagline, and branding efforts, that's most likely when they may be sinking in with customers.
• Don't try to appeal to everyone. Typically, the best you can do is to focus on the niche market for your product.
• Know who you really are. Know your strengths and weaknesses through an honest analysis of what you do best.
• Fully commit to branding. Treat all functions of the company, from product development to sales, as integral aspects of your brand.
• Put yourself in the audience’s shoes.  Think to yourself what you would like to see, and what would gravitate you to the company and their products.