Some choose having a logo over having a premium brand.
Every single day, dreams are left on drawing boards, as people are too afraid to spend money in order to make money. As a business owner, I know one major thing that keeps us awake at night is income: where to find it, how to make it, what to do to sustain it.
Your brand is a powerful asset. Do you relate branding as a one-off expense, to be spent ONCE a certain amount of money is made? Or do you view it as a strategic tool that will help you to make money competently and comfortably?
“IF THIS BUSINESS WERE SPLIT UP, I WOULD GIVE YOU THE LAND AND BRICKS AND MORTAR, AND I WOULD TAKE THE BRANDS AND THE TRADEMARKS, AND I WOULD FARE BETTER THAN YOU” — JOHN STEWART, FORMER CEO QUAKER
In our words, “Be differentiated, or be commoditized.”
Differentiation doesn’t simply lie in design elements. It begins with the vision of your brand, a sound understanding of the marketplace and a proposition that exceedingly surpasses simply solving the needs of your customers.
Answer these questions –
- Who are you?
- Why do you exist in the marketplace?
- What makes customers relate well with what you are selling?
- How are you engaging your current customers?
- Which methods do you use to attract new customers? (Or in other words, steal market share from your competitors.)
There is an intangible value attached to a product or service that is derived from customer perception of your brand. This added value is termed as brand equity. This experience, excellence and history of the brand are built up over the years and become the backbone of any company’s success.
Do you have a budget allocated for branding, to truly define and strengthen your brand, to understand your target markets’ psychology and buying behavior, and in turn, fine tune your business, sales and marketing strategies for the long-term success and building up of your company?
The budget you allocate will then, fund activities that bring your brand to life. Some professionals involved in branding exercises would include brand researchers and strategists, graphic designers, web designers and web developers, social media experts, copywriters, and industry experts.
We will not lie. It is an arduous process to build a brand. But the rewards reaped far exceed the effort placed. Just speak to Winnie to hear more about the success stories we’ve had.
Are you ready to embark on a brand discovery process? Until then, branding is not for you.
By Toh Ziling