If I asked you the name of your business, you could probably respond without a second thought. But what if I were to ask you about your brand?
What is the story you would tell, the mission you want to achieve, and the unique characteristics that set your business apart from your competitors?
You’d probably need a bit more time, but it would be time well spent.
Branding is a powerful tool. It can turn first-time customers into loyal followers and long-time customers into word-of-mouth marketers.
Branding, when done masterfully, is the reason we apply “Chapstick” to soothe dry lips, eat “Popsicles” to cool down on a hot day, and “Google” the answer to life’s most pressing questions.
Needless to say, brand identity is an important component to your business.
Picture Courtesy : 4 Compelling Brand Stories You Should Be Telling
Its clear brand development is important, but how do you build it into your marketing efforts? There are numerous answers to that question, but the following often represent the most common and impactful way to increase brand awareness:
Through this method, well-curated articles, blog posts, videos, white papers, etc. are used to increase brand credibility. Content is then distributed through various channels, including email, social media, and on the brand’s website or blog.
Picture Courtesy: 18 Types of Content Marketing You Can Use To Grow Your Business
Ultimately content works to show your brand as a source of knowledge, whether it pertains to industry trends or customer needs.
Picture Courtesy: Best Social Media Management Tools – No More Social Media Babysitting
Many social media platforms, including LinkedIn, Facebook, Twitter, Instagram, and Snapchat offer paid advertising opportunities that base ad placement on user data. This can place your brand in front of a specific audience base or target user.
When “giving” initiatives are leveraged correctly, they highlight your brand’s mission and show your commitment to goodwill.
As such, your brand gains notoriety among audiences that share similar interests or philanthropic goals.
Picture Courtesy: Top 10 Best Free SEO Tools To instantly Improve Your Google Ranking in 2019
Through this method, you purchase ad space on search engine result pages (SERPS) on Google, Bing, etc.
Instead of ranking organically for specific keywords, SEM allows your brand to show up at the top of a SERP, presenting your brand to highly targeted audiences.
While each of these methods can help you increase brand awareness, they often come at a price. Social media and SEM ads are often paid promotions that are based on the number of clicks.
Content marketing typically requires you to hire a writer or work with a freelancer or content agency. Similarly, charitable efforts will often require a strong advertising budget on top of donations.
In short, brand development, like any other marketing effort, will likely require capital — though it’s often money well spent. If you’re considering ramping up your branding effort but need additional capital, here are a few financing options:
With this option, you’ll be required to make monthly payments for the life of the loan, which can range anywhere from a few months (short term) to several years (long term).
Branding is essential to the growth and success of your company. It breeds interest, engagement, and loyalty, all of which play a vital role in increasing revenue.
Developing your brand does, however, requires an investment, and any efforts should include a thorough review of your resources, working capital, and available financing options.
This blog post has been contributed by Andrew from LendEDU – a consumer education website. Andrew has plenty of experience working in a small business environment.
Andrew writes engaging and informative content for readers looking to find information about topics such as student loans, credit cards, personal loans, and small business financing.
Andrew’s work has been featured in Market Watch, Bankrate, The Penny Hoarder, and the Lacrosse Tribune.