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“Build your brand.” “Develop your brand strategy.” “Branding is everything.”
We’ve all heard advice along these lines when it comes to running our businesses. But what exactly does it mean, and how are we, as small-business owners with limited resources, supposed to build valuable brands?
Because there tends to be a great deal of confusion around the topic, let’s start with some basics definitions. Your brand is both a promise to your customers and a reflection of your company values. And your brand strategy represents your tactics for raising awareness of your brand. That strategy can include marketing, advertising, PR, and the like, but before spending a dime on any of that you’ve got to answer this question:
If you don’t know what your company’s brand is, or if you think you know but you can’t articulate it in a single sentence, then it’s time to engage in some good old-fashioned brainstorming and a bit of soul searching in order to come up with the answer. Start by gathering your most trusted colleagues in a room and asking them to join you in spending twenty or thirty minutes writing down as many answers as they can think of to the following questions.
After this exercise is complete you should have the raw materials to help define your brand. Spend as much time as you need sifting through the results and picking the winners, and engaging in more brainstorming sessions until you’ve got a clear vision for your brand, remembering that it needs to reflect who you are and what your promise to your customers is.
Once your brand concept is rock-solid, your next challenge is figuring out how to articulate that brand in a way that resonates with customers.
And, most importantly, you’re going to need consistency in all of the above, because it’s impossible to build a recognizable brand without a consistent message from the company that stands behind the brand.
*Disclaimer*: Harvard Business Services, Inc. is neither a law firm nor an accounting firm and, even in cases where the author is an attorney, or a tax professional, nothing in this article constitutes legal or tax advice. This article provides general commentary on, and analysis of, the subject addressed. We strongly advise that you consult an attorney or tax professional to receive legal or tax guidance tailored to your specific circumstances. Any action taken or not taken based on this article is at your own risk. If an article cites or provides a link to third-party sources or websites, Harvard Business Services, Inc. is not responsible for and makes no representations regarding such source’s content or accuracy. Opinions expressed in this article do not necessarily reflect those of Harvard Business Services, Inc.