Starting a business is very easy. Accumulating resources and allocating it for various functions involves nothing but an actual outflow of cash and resources only.
To culminate all into a successful and profitable venture requires much more than the implementation of essential business functions.
Especially in this seeing is believing age in which gaining the attention of significant masses is very crucial to add on to the broad customer base and profits.
Not much has been discussed and written on the crucial aspect of the branding of the business. Whether it is a startup business or a matured one, it should be done.
Branding function is a set of initiatives undertaken by the company people to gain the attention of people towards its product and differentiate it amongst various similar products in the market.
Branding creates an image on the minds of people of the product or service as its USP and credibility factor. It also majorly impacts customer interaction and engagement towards better sales of the product and services.
WAYS FOR RIGHT BRANDING
In the following manner, the branding of a business can be done innovatively:
MISSION STATEMENT
A precise and crisp mission statement of the company as to what it wants to accomplish and achieve is a mandatory USP point.
A company with an authentic mission often achieves the trust factor of people which in turn assists the business to flourish better and expand widely.
VISION STATEMENT
Along with the mission statement, the company on its website must state what its vision is for the future.
What the company intends to do in the future goals and near time? What are the targets set the direction for the operations of the company?
And this would form part of the branding strategy of the company.
LOGO
Another integral part of branding is developing a logo very unique and not easily imitable by anyone.
- This logo can be any, but not already used by anyone along with any shapes and colour variations.
- The logo of business creates a significant impact on the advertising efforts in terms of its colour combinations, appearance, and visibility.
- The logo is so crucial to be so distinct that companies worldwide spend lots of time and resources in researching to craft a perfect logo for their business.
The essential aspect of a logo is that people are made aware of a particular product sold by a specific company highly distinct from its competitors, to develop a sense of customer familiarity and engagement.
TAGLINE
Another critical aspect of the branding process is of making a straightforward tagline of one sentence.
This tagline can range from being funny or serving a social message, but very distinct to immediately make a person aware and remember the brand and product of the company.
Taglines can also be in rhyming words to enable easy remembrance and brand reach.
BRAND COMMUNICATION
After the initial aspect of making a logo and tag lines, this becomes the next crucial step to be undertaken.
The theme, quality and other aspects of the business of the company in contrast to other companies must be communicated in concise in various forms.
It can be done in various formats.
For instance, advertisements can be made with contents directing towards a specific audience or even through the tagline mentioned in the product package itself.
All this only leads to an increase in the impact and deliberations of the brand within a market place. It is where there is numerous brand selling similar products.
In turn, this would all lead to better visibility of the company’s products and sales.
Many new and emerging businesses may not have enough funding backup to undertake extensive branding and communication initiatives, and for the same, take the help of external funding.
Funding in the form of very bad credit loans no guarantor from a direct lender is very beneficial for small businesses having meagre budgets for various branding strategies.
TEMPLATES
As part of the brand, the communication aspect is the making of templates in conjunction with brand appearance and communication.
Templates make under the name and style of the company having its logo and tagline for fast identification.
And this template must be part of every book and paperwork of the company.
Templates depicting the very essence of the brand of the company infer its core and distinctively for better appearance and masses connection.
The brand strategy is also to incorporate every document of the company. For example, the online lending firm these days strategises its product like an unsecured personal loan for poor credit people with targeting two different users with a single plan.
They also advertise an easy and convenient process will clear the loan application as fast as they can.