Are you looking for ways to grow a sustainable business? If so, building your brand should be a top priority for you. Branding is what creates that distinctive and enduring impression in the minds of your customers. A strong brand makes investors want to invest their capital in order for you to continue to grow your company.
If you’re a small business with very limited promotional resources, branding can be your ticket to entrepreneurial success. However, the path to branding success is often riddled with challenges and obstacles. The key is to be careful and to watch out for these 10 branding mistakes you may not know you’re making.
Mistake #1: Targeting a market that is too broad
Be specific with your target market. Don’t make the mistake of choosing a niche that is too broad. This is based on the principle that if you try to be everything to everyone, you become nothing to no one.
Mistake #2: Focusing too much on advertising but ignoring PR
What others say has far more impact than what you say about your business. Focus more on Public Relations and less on advertising. Enter into strategic partnerships with well-known companies in order to add credibility to your brand and enhance its growth.
Mistake #3: Failure to exploit web presence for attracting new customers
We are in the information age. And, if you don't have web presence you will consistently lose out to competitors who do. Start by building your business website. Then, invest time and resources in social media. Demonstrate your expertise by engaging prospects via social network sites such as LinkedIn, Twitter, Google+, and Facebook.
Mistake #4: Not empowering employees to build your brand
Employees usually actively engage in social networking. Empower them to become your company’s most important ambassadors for your brand. By doing so, you will be able to build long-term relationships with your clients.
Mistake #5: Not utilizing enough visuals
A picture speaks a thousand words. Invest in the creation of a unique company logo that leaves no doubt in everyone’s mind what your brand represents.
Mistake #6: Not tracking your conversions
For every prospect that comes your way, find out how they learned about your company. Was it through your advertising on TV, an informational seminar, radio spots, or customer referrals? Use the information to fine-tune your marketing plans.
Mistake #7: Failure to exploit word of mouth advertising
Getting people to talk about your brand and referring potential customers to you beats all other marketing strategies combined. You’d be surprised to know that most satisfied customers are more than happy to spread a good word about your business. All you need to do is ask them for their help.
Mistake #8: Not having a Unique Selling Proposition
Identify what makes your brand more unique, more valuable, and more visible. Then, let everyone know about it. Your Unique Selling Proposition (USP) allows you to position your brand as the best and perhaps the only choice in the market.
Mistake #9: Breaking your promise to your customers
News travels fast in the marketplace… so, if you can’t deliver on your promises, people will find out. Disgruntled comments from customers can easily kill a lifetime’s work. So, be sure to make good on your promises.
Mistake #10: Failing to engage your customers
Branding is more than just a logo or a clever tagline. It’s about building relationships. Leverage social media, community events, and loyalty programs for building closer ties with your customers. People will become more inclined to do business with you if they can identify with your brand on a deeper level.
Strong branding becomes the catalyst that binds your company and your customers together. Once you have determined your core service, you must deliver the message. Avoid the 10 branding mistakes and you will be sure to accomplish your goals.