I think it’s safe to say that having a great brand is the goal of every world-class business out there today. So what defines a strong brand, and how do you know if your business is on its way to worldwide success or will be eaten alive this year by the local competition?
No obvious unique factor
You may think you’re unique compared to your competitors, and even if you know you are, is this apparent to your potential buyers? Without making it obvious, customers have a good chance of buying elsewhere, especially if another business makes their own uniqueness more obvious than you do. Get creative with this differentiator – great customer service and reliable products don’t cut it if your competitors can easily say the same. On the other side, don’t copy-cat other players in your industry. Always try to be recognizable.
Misunderstanding what a brand is, and how important it can be
Some think of a brand as a logo or mission statement, when it really has more to do with how visible you are in the marketplace and what kind of reputation you have with the outside world. With a strong brand, you will attract not only more customers but better employees, the ability to branch into other industries or services and give the new parts of the business some initial strength using that positive reputation.
Assuming you know your target audience and competitors
We all know what happens when we assume. It’s a good practice to periodically conduct research on these so you can keep growing faster than the businesses who neglect to do this.
Aiming too low or making false promises
To have a truly successful, lasting business, you must be genuinely interested in it and aim to be the best because you want to offer the industry something truly unique and beneficial. This will ensure success every time. On the other side, don’t offer things you can’t deliver. This will hurt the trust clients will have for you which can completely destroy a business.
Do some of these points sound familiar? If they do, you’re certainly not alone, not every brand can hack national or worldwide success. But, does your business have what it takes? K-Kom, Inc. is happy to rework your brand strategy, or your B2C or B2B marketing strategies as a whole and help your business grow!