Many small business owners feel that thinking about branding is only for big businesses that have the resources to invest in marketing and hire an advertising agency. The truth is that every business, no matter its size, will benefit from defining their brand. It simply requires some thought and a structured look at your business.
A brand is simply how a business is perceived in the mind of someone who has experienced it in some way. These experiences are known as brand touchpoints. Brand touchpoints could be an online review, word-of-mouth referral from a friend, magazine article, piece of packaging, or a mention on social media. Branding is the process of controlling how your business is seen and understood. It’s all about defining how you would like customers to think and feel about your brand.
There are 5 key concepts which branding agencies use to help define a brand. This article will help you understand those ideas and use them to define your own brand.
- Purpose: Why does your brand exist?
- Vision: What would the world look like if you succeeded in your purpose?
- Mission: How are you going to achieve your vision?
- Values: What do you stand for?
- Positioning: How are you different from the competition?
The goal is to answer each of these questions in a simple, clear statement that feels absolutely true to your business. These are the building blocks of a strong brand, which will help you connect with your customers, communicate difference, and ultimately create additional value for your product or service.