If you’re reading this, you probably want to know the secret ingredient for building a successful brand. Or you already are one and want to ensure you’re using all the right tools. Well, whatever your reason for being here, let me share what I have observed about powerful brand building.
Each brand is unique, and there’s no single formula for success. However, I believe there are a few healthy practices that all businesses can embrace to grow.
Here are some common traits of successful brands.
KNOWLEDGE OF TG
Strong brands know their target audience. They also know that every single consumer worldwide is not a potential customer. Such brands understand the needs and concerns of their target market. The language they speak, their struggles, their shopping habits, etc. This helps them craft strategic marketing tools and pitch their products in a way their target audience can understand and relate to them.
CORE VALUES
Their organizations’ beliefs and values guide successful brands. Customers of such brands relate to these beliefs. They feel assured that the brand makes all decisions while staying true to its culture and principles. This builds affinity and loyalty towards the brand. One study revealed that about 77% of the population remains with brands that share the same beliefs as them. For example, an eco-friendly brand will attract a conscious consumer, an environmentalist.
SOLUTIONS, NOT SALES
Customers like to know how they will benefit from a brand’s products or services. Successful brands answer such questions as against employing stiff selling tactics. Every company is born to solve a problem, improve something, or fill a missing gap. Recognizing the brand’s purpose and communicating it to consumers aids in guiding business decisions and rising above the competition.
UNIQUE PROPOSITION
A good brand knows there is fierce competition and needs to do something different to grab attention. A new packaging, excellent after-sales service, or different raw materials? For example, one chocolate brand can differentiate itself from others using cocoa beans grown only in India. Consumers who support the idea of fair trade for Indian farmers may consume this brand’s chocolates over others. Vague messages like “we have the best quality products” aren’t effective anymore.
ENGAGEMENT WITH AUDIENCE
Strong brands creatively engage with their existing and potential customers. They know that engagement is the thread that sews a brand’s and its customers’ relationship. It starts from a customer’s first interaction with a brand and, in best cases, continues after purchase. Regular interactions help to obtain customer insights and feedback. They also build trust and loyalty and boost sales.
INNOVATION AND CHANGE
Almost all industries need to innovate and adapt to changing times and trends to survive. Innovation helps to retain existing customers while also attracting new ones. For example, when the pandemic hit, various brands had to get creative and strategic to stay alive while adhering to the Covid-19 norms- local shops which didn’t offer home delivery started doing so due to the lockdown. With customers boycotting single-use plastic, numerous companies have switched to environmentally friendly packaging. This shows customers that the brand is active and that it is paying attention to what they want.
AUTHENTIC BRAND PROMISE
Authenticity helps to build long-lasting and trusting relationships. Successful brands make a promise and stick to it. They honestly tell their audiences what to expect. When they make a mistake, they own up to it. That’s authenticity, something which urges consumers to become customers. Because at the end of the day, customers don’t just buy a product or service; they buy the brand’s beliefs.
STORYTELLING
Who doesn’t enjoy a good story? Especially one that’s true? Brand stories can spark an emotional connection. Customers love to know how brands come up with products. What inspired them? This allows engagement and personal relationships with the community you create. A strong brand story can also help people remember a brand. It may even create loyal customers.
SHARE
