Branding for Success: How to Lead Your Industry?

September 21, 2023 7440

Table of Contents

Why are people so enthusiastic about buying an Apple iPhone, although many great smartphones with similar features are available at lower prices?

Why do people feel so proud of showing the Apple logo on their laptops and other accessories?

It’s all about the power of branding.

Apple has gained prominence as a brand that symbolizes innovation, status, quality, and style. When someone purchases an iPhone, they’re not only owning a sleek design, user-friendly interface, and inventive technology, they’re purchasing a slice of the Apple brand.

When purchasing from a brand, consumers are inclined to pay a high price since they believe in the brand’s values.

Nowadays, when the competition is harsh, introducing customers to a surfeit of choices than ever before, branding is the most noteworthy way to stand apart from the competition and set a unique identity.

Being an entrepreneur since the age of 13, I understand the significance of branding beyond a logo, name, and slogan. Branding is more than that – it is the culmination of all the touchpoints a customer has with a brand, from first exposure to last interaction.

Building a brand is a longstanding journey that summons a lot of hard work with balanced smart work and most precisely dedication. It’s about building an identity that encourages customers to feel connected to your brand. It’s about growing as the synonym of trust and loyalty by living up to your promises.

Today, I will communicate some tips that will aid you in leading the industry with the power of branding. So whether you’re just starting, or want to promote your brand to the next level, this blog is your go-to resource.

So, let’s get started.

1. Identify Your Target Audience

This might seem the most apparent step. Nearly every entrepreneur, whether a beginner or a seasoned professional, acknowledges how important it is to determine their target audience.

→ According to a Survey of over 1,200 marketers, merely 42% have knowledge of their target audience’s data like name, gender, and demographics.

Quite surprising, isn’t it? But it’s real.

The lack of the target audience’s understanding significantly affects the bottom line of a business. When marketers don’t know whom they are marketing to, and what their brand should look like, the result would be ineffective marketing strategies.

So, what are the best practices a business can follow to understand their target audience?

Create a fictitious illustration of your ideal customers called buyer personas.
Segment the customers in groups according to their common attributes such as location, interest, purchasing history, industry, and more. This will help you trigger targeted marketing campaigns for customers.
Perform market research to gain insight into the needs and preferences of your targeted customers.
Competitor analysis can also help you know your target audience and what strategies they’re following to target customers.

2. Align Your Brand Values With the Values of Your Target Audience

Do you know that approximately 82% of customers prefer to rally around a brand that speaks of their values? So, if you’re looking to build a strong and successful brand aligning brand value with the values of your target audience.

For example, Lyft, an American ride-hailing company, is the perfect example of aligning the brand values with the values of target customers.

The company focused on identifying the needs of people. People were looking for the convenience of riding in minutes from their smartphones. Lyft started with the promise of “Rides in Minutes” and became a hit among people seeking rides in minutes for convenient transportation in cities.

Similarly, an American clothing and gear retailer named Patagonia realized the need to recycle clothes to reduce carbon footprints. The company has started to employ environment-friendly practices to offer recycled clothes that promise a reduced carbon footprint. Patagonia created its marketing campaigns that reflect its commitment to the environment and experienced favorable outcomes.

Here is how you can take the path forward aligning your business values with the values of customers:

Gain an understanding of the values your target audience cares about. For example, Patagonia has a target audience of outdoorsy people who value the environment.
Define your brand values that resonate with the values of your target audience.
Ensure your brand messaging speaks about the values of your target audiences you have identified.
The best practice to demonstrate your value is to support causes that your target audience cares about. This could involve donating to charity, volunteering your time, or raising awareness about an issue.

3. Design the Visual Identity of Your Brand

What is the first thought that comes to your mind when you think of the logo of Coca-Cola? For many of us, logos bring to mind feelings of joy and rejuvenation. Even though the logo doesn’t emphasize what the company is selling, still people around the world know the Coca-Cola logo, and what it sells.

The superficial yet iconic logo of Coca-Cola is an excellent example of a brand with a powerful visual identity.

The visual identity of the brand has a logo, color, palette, typography, and iconography, along with other visual elements.

Get a logo: A logo is one of the most important brand identifiers.

→Approximately, 75% of people say they recognize a brand with its logo. Therefore the logo for your business is simple and memorable. It should be unique to help your business create a unique identity in a competitive world.

Establish visual style: Color palette, typography, and iconography are important aspects to consider when creating a strong visual identity. Approximately, 60% of people identify a brand with its visual style. Therefore, you should choose the right color palette, typography, and imagery that perfectly represents your brand values and personality.

4. Choose the Right Platform for Your Brand

What platforms does your target audience use most frequently? What are their values? Having answered these questions, you can start creating your brand on the platform your target audience uses by speaking about their values.

For example, let’s imagine you are a brand that deals in fashion accessories like clothes, sunglasses, watches, etc. Your target audience is most probably to be on social media platforms like Instagram, and Facebook. You can contact your target audience on these platforms by presenting your collection through visually appealing images and videos.

How do you pinpoint the platform your target audience utilizes? There are myriad ways to do this.

You can conduct surveys, market research, or interviews to find out the platform they prefer to use. Auditing social media followers at the platforms where you have a presence, can help you find the platform where you have the most followers.

Marketing metrics can also assist you in specifying the platform by estimating the success of campaigns across different platforms. Furthermore, you can review the performance of your website using Google Analytics to find which platform is pushing traffic to your website.

5. Embrace Storytelling

Which advertisement campaign do you still remember from your childhood days? What made that so unforgettable? Was it the features of the product that were selling in an advertisement? The brand’s message? Or the story told in the advertisement.

That ad was effective because it tells a story that resonates with you. And that’s the power of embracing storytelling

Around 92% of customers expect brands to create ads that evoke a feeling of story. 68% of customers say that brand stories inspired their purchasing decisions. (Source: The Brand Shop)

→ “One advertisement campaign that inspired me was Nike’s “Find Your Greatness” campaign. This campaign was launched during the 2012 Olympics and features athletes every day who are pushing themselves harder to do their best.”

The story emphasized that greatness isn’t reserved for elite athletes; anyone who puts in the effort and stays motivated is capable of greatness.

Storytelling is a powerful weapon that businesses can use to build a connection with people on an emotional level. When people feel connected with the brand they’re most likely to remember it.

Final Take: Putting it All Together

In today’s time when choices are myriad, the power of branding is irreplaceable. Take inspiration from the example of Apple, Coca-Cola, Lyft, or Patagonia – these brands put efforts into branding and become the leader of their sector.

The journey of building a brand is not only about visual appearance, it is the result of constant efforts to align business values with customer’s values, interacting with them on the platform they prefer, and embracing storytelling to connect with them on an emotional level.