Sometimes, it’s good to get back to basics.
When running a small business, it can be easy to get lost in the day-to-day tasks and lose focus on what it means to manage a brand.
So here’s a quick refresher on 5 branding fundamentals for your business, to keep you on your toes…
1. Your brand Is your reputation, not your logo
Always remember that your business brand is more than just your logo, your colours, or your marketing merchandise.
Your brand is how you are perceived by your target audience. Simply put, your brand is your reputation.
The key here is to understand that your brand and your branding are two separate things. Your brand is what you represent and your branding are the material things (business cards, website, travel cups and other swag, etc.) that support your brand.
Focus on what your audience knows (or doesn’t know) about your business and the other things will follow.
2. Focus on how you bring value to your target audience
When speaking or writing about your business, it’s tempting to put the focus on you. Your product. Your service. Your employees.
But this is a mistake. Your brand should focus on your client.
Instead of focusing on your product or service, focus on the value you bring to the table. Why should they hire you? Why should they buy from you? What’s in it for them? Why should they want to do business with you?
How are you irreplaceable?
3. Don’t be afraid to niche down
One of the scariest things to do as an entrepreneur, especially when you are new to running a business, is to say NO.
It is a natural tendency to want to be everything to everyone. After all, it seems counter-intuitive to refuse money that is seemingly on the table. But this is a recipe for disaster.
“Niching down” is a concept that involves narrowing down your potential audience. It is intentionally catering to a more specialized demographic.
When you niche down, it may seem like you are excluding a large audience, but what you are actually doing is showing that you are a specialist to a select audience where there is little to no competition.
You may not be able to locate your niche right away, but with enough time, experience, and research as a business owner, you should be able to figure out where your greatest return on investment lies.
4. Don’t be afraid to pivot
You don’t have to be in business for a long time to figure out that being able to adapt is a skill essential to survival.
Whether it’s a recession, a pandemic, or industry trends, sooner or later, something that is completely out of your control is going to take place and you’re going to have to think fast on your feet and evolve.
Don’t be afraid of this. This is business.
The ability to pivot your brand will keep you afloat when times are tough.
5. You can’t fake brand values
Strong brands have strong brand values.
Brand values make up your brand’s personality.
How does your brand treat people? How does it make people feel? What promises does your brand make? What does your brand refuse to compromise on? What social causes does your brand align with?
Brand values aren’t complicated, but things can backfire for your brand if you try to fake them.
Talk is cheap, and it’s imperative that you back up your brand values with consistent, long-term action, not just meaningless words.
The reason for this was that it had only been 4 years since the NFL had publicly opposed player Colin Kaepernick’s peaceful protest against police brutality against black Americans, so the NFL got accused of being hypocritical and opportunistic.
Even after the NFL issued an apology for Kaepernick, the brand remained tarnished.
For reasons such as this, it is important to always be authentic, because in all likelihood, you are not going to fool anyone.
Branding for your business is an ongoing practice, so it’s always a good idea to recap some fundamentals. Always remember that your business brand is more than just your logo and colours, it is your reputation. When it comes to branding, keep the focus on your audience, and how your brand adds value. Never be afraid to niche down and focus on a specialized audience. Owning a business means not being afraid to change, which means your brand may pivot. Have strong brand values and stick to them — always be authentic.
