Let’s define the word BRAND as it relates to your company. In a nutshell, a brand has to convince me to spend my money, time and effort with you and not your competitor.
Think about iconic brands like Starbucks, Ferrari, ESPN, and Neiman Marcus. When you hear the names of these companies you immediately think of a host of attributes for each of them. Well, it’s their BRAND you’re thinking of! Now do you understand why your brand is so important, and why you need to manage your company’s brand? Good, we’re on the same page. Consider these criteria to start defining your brand:
- Company name: does it say anything / mean anything to your ideal client? Is it easy to remember? Hard to pronounce? Keep in mind, you can leverage uniqueness.
- Logo: do you have a logo? Is it well designed? Symbolic? Appropriate in style and color for your industry? Does your company name or logo convey and emotion or inferences at all to your prospects? Is it in sync with your mission?
- What’s your niche? This will help define your brand as experienced in whatever product/service you offer. Are you trying to sell to everyone? Tsk, tsk. This is what I call the lazy-non-marketing strategy. There’s a 99% chance you have a target client, so work on identifying your niche area of expertise and find targets that fit your niche.
- Make a list of 20 attributes you want people to think of when they hear your company name.
Your answers will help you start to really pinpoint your brand from a strategic perspective. When you review all the answers in totality, you can begin shaping a brand identity. You’ll be on your way to developing a brand your customers will love!