When you think of some of the most famous companies in the world, there tends to be one thing in particular that stands out. Whether it’s the golden arches of McDonald’s, the swoosh of the Nike tick or the half eaten apple of Apple, these logos instantly make you think of their respective brand and the identities they have forged for themselves. In the modern world, branding and brand awareness is just as important as the product you are trying to sell.
While all of the examples above are almost ingrained in the minds of the majority of the population, it can be a lot harder for a new company to create an impact in the same way. It’s vital for a new business to decide on an identity right from the beginning so that the business and its products can be easily identified to suppliers, customers and investors. Creating the right business identity is a long process and should include the involvement of multiple professionals, including researchers, brand and marketing experts and designers.
The first step in creating a good business identity is to identify your place in the market and that of your competitors. You need to be sure there’s space in the market for you. Also take a close look at how your competitors appeal to their customers and the sort of identity they have created for themselves. Your branding will likely need to appeal to the same customer base, and it’ll need to highlight the differences that make you the better business.
Once you’re sure that there’s a place in the market for you, you need to come up with a name. Naming your business might sound simple, but it can be a very difficult process. Always try to include a connection to either yourself or the type of business that you run – random words may sound modern and edgy but risk alienating customers. Come up with a list of names you like and run these ideas past different focus groups. Keep doing this until you’ve narrowed your list down to two or three good choices to make an informed final decision.
With a name in place you need a catchy tagline for your advertising. Once you have all of the background information, you need a logo to tie it all together. As with all the other things on this list, the logo should reflect the business in a clear and simple way. Give consideration to how it will look on shirts/stationary etc. too.
Now you’ve built a brand identity, it’s time to launch your business and share it with the world. The type of marketing you choose will all depend on the nature of your business, where your target audience is spending their time and how they are influenced. Always remember, business branding is continually evolving. Never stand still for too long or you risk being forgotten about. Good luck!
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