How to Build Your Business Brand
With the immediacy of the World Wide Web and the emergence of social media as a dominant marketing channel, the distance between brand and consumer is closer than ever. But as a result of this, there has been increasing competition between brands seeking to exploit niche markets and gain customer loyalty.
This is why it is important for businesses to do more than just the usual rounds of advertising and marketing. You must be able to reach out to consumers in a way that makes your business stand out in a sea of competitors.
In other words, you need to strengthen the consumer’s perception of your brand. Here are a few ways you can go about doing this:
1. Ensure your branding is consistent with your company’s values
Branding is not simply coming up with a name, creating a logo, and making a witty tagline to catch the attention of consumers. Effectiveness comes from linking the brand to the core business objectives.
An example would be Canon, a brand dedicated to kyosei and innovation. This can be seen in its technology, product development, and its devotion to lessening environmental impact in all its industrial processes; Canon’s slogan, “Working together for a better future” encompasses these goals.
2. Listen to your customers’ needs
Ideally, your brand should start with a good product or service. But with increasing competition, consumers are now confronted with so many choices among products that are seemingly alike. The challenge now is to create a personal experience for your brand.
In the past, Canon has always been known for its professional SLR cameras. By engaging its steady customer base in a dialogue, new needs were discovered that eventually led to the diversification of its camera product line which now covers compact cameras, personal and professional camcorders, network video solutions, and even binoculars.
3. Deliver positive experiences with your brand
Not all businesses have the budget for heavy-duty advertising, so many rely on cost-efficient niche marketing strategies to reach their target audience. SMEs can especially benefit from this type of direct marketing or word-of-mouth approach that usually stems from positive customer experience with your product or service.
Apart from its commitment to innovation and environmental efforts, Canon takes on a more direct relationship with its consumers through such partnerships with the Singapore Bowling Federation and participation in the Earth Hour campaign.
4. Think beyond profits
Effective branding can be built when your business has the consumer in mind. A consumer-focused experience will compel people to share your product with others. The relationship should not only be your brand and the consumer, but something that can be shared with others.
For instance, Canon has enriched the lives of Singaporeans by engaging in corporate social projects like the Canon Photography Exchange Program which uses Canon’s expertise in digital imaging for the betterment of people with special needs, raising funds for the Singapore Children’s Cancer Foundation, and the relief efforts to earthquake survivors in Padang, Indonesia.
5. Don’t be afraid to enter new markets
By reaching out to people and tapping the lives of consumers, your business can become aware of other needs. This can in turn become opportunities for new products and services that can be shared to strengthen the brand experience.
Following this line of thought, Canon has diversified its product line from cameras and optics, to create other products like all-in-one printers for homes and businesses, portable photo printers, recyclable ink cartridges and toners, digital scanners, and projectors.
Each new product presents a new challenge towards strengthening the brand, and at the same time, they also present opportunities to touch more lives and create new positive experiences.