Whether you’re a seasoned startup running for a few years or a business preparing to scale, or a brand without a clear identity, a branding exercise might just be what you need to move to the next level. By taking some time to focus on your brand identity, you can develop a clear vision for where you want your business to go.
Keep reading to find out the benefits of this exercise and the stages involved.
Purpose of Branding
When done right, branding can help you build and maintain a positive customer perception which is paramount to the success of your business. Branding is also done to help you:
To stand out
Businesses invest in branding for many reasons, but a primary motivation is to stand out in a saturated market. When there are too many choices, it can be hard for customers to notice your product or service. A business with a strong brand identity will be more memorable and have an easier time increasing brand recall.
To stay competitive in the market
Branding is all about expressing your brand individuality and letting your products and services’ unique selling points (USPs) stand out from the crowd. It’s about showing why customers should choose you over your direct and indirect competitors. Through effective branding, you can build a strong, loyal customer base and create a lasting impression on multiple platforms and touchpoints.
To stay attractive to the right audience, or even a new demographic
Branding is not just about creating a name and identity for your company. It’s also about connecting with new potential customers and target audiences who share the same values and goals as your brand. This helps you build trust and loyalty, which can lead to more repeat customers, direct referrals, word of mouth and business growth.
To Improve brand image and reputation
Branding is a tool that can elevate your business by giving it a clearer and more cohesive image that people are more likely to trust. The more trust a brand gains, the better its reputation.
To stay relevant
The best way for brands to maintain relevance amidst the rapidly evolving marketing landscape is to forge emotional connections with their customers. Branding allows you to humanize your business, making it easier for people to relate to and trust you. The stronger the bonds you’re able to form with your customers, the more relevant you become to them, and the more loyal they are to you.
Benefits of a Branding Exercise
A branding exercise is pertinent since it helps brands:
Develop a sustainable competitive advantage
A branding exercise helps you to escape from the sea of sameness by identifying and communicating your Unique Selling Propositions. When you have a unique product and identity, you can compete fiercely in any market.
Curate a long-term strategy through the next 5/10/20 years
There’s more to a branding exercise than just improving visual identity. This exercise also encourages you to define your business goals and establish a long-term brand strategy to help you achieve them way beyond the business’s infant years.
Ensure all stakeholders are on the same page, and moving in the same direction
A branding exercise is an opportunity to engage more with your stakeholders and explain your brand values, theme, and strategy to them so that everyone is on board. This is also a good chance to welcome ideas and input to make your stakeholders feel valued.
Ensure the brand continues to be aligned with its vision and mission
The brand strategy that is developed during the branding exercise will serve as your business’ guide and reference point as you operate and grow.
Time Frame to Start
A branding exercise typically takes 4 to 6 months at a minimum, up to a year. The time you spend on a branding exercise is determined by how much change your brand requires, as well as your budget. The fewer changes you have to make, the faster the completion of the project.
What a Branding Exercise Involves
A branding exercise commonly involves the following stages:
- Research and Audit
The first step in a branding exercise is conducting a thorough market research as well as a brand audit. This involves interviewing stakeholders and it can also include doing a sound market survey or focus group with the target audience. Knowing your audience, what they want and how they consume information on a daily basis will help you create a brand that they will connect with them on the right platforms. Hence, do not underestimate this crucial step to help you better understand your target audience’s needs and wants and lastly, the latest consumer trends and desires.
- Strategy
This is the most important stage in a branding exercise because it defines the direction that you want your business to grow. It is developed based on your brand’s purpose, vision, values, and personality. It is essentially the foundation on that your brand will be built.
- Personality
In this stage, we apply our research findings to build a strong brand personality. Once you have a good understanding of who your target audience is, you need to decide the role you want your brand to play in their lives and then choose a suitable brand archetype.
- Visual Identity
Here, elements such as colours, fonts, patterns, and imagery are created or selected carefully to create a harmonious visual identity that effectively translates the brand’s purpose and personality.
- Execution
Finally, the execution stage is where you get to show off the results of your hard work. Although this is the final stage in the branding exercise, it doesn’t mean that work stops here. Because the marketing landscape is ever-changing, you will have to keep conducting market research and making necessary updates to your brand strategy.
Key Factors for Consideration
Mindset is key. Be sure to go into the branding exercise with a positive mindset.
How invested a brand owner is to take the brand to the next level
You need to fully commit to the branding exercise if you want it to be a success.
Having an open-mind
It’s good to begin this exercise with a goal in mind, however, don’t let that make you rigid.
Working hand-in-hand with branding advisors to make the best decisions for your brand
Team up with top branding experts to ensure that the right moves are made for your brand.
Costs and Timeline
The costs and timeline for our brand strategy and visual identity offerings are as follows:
Strategy
Get a winning brand strategy that is guaranteed to boost your brand visibility, awareness, and sales! This package starts from $15,000 and has a timeline of approximately 2 months.
Visual Identity
Refresh and strengthen your brand’s visual identity to reel in more customers!
This package starts from $15,000 and has a timeline of approximately 2 to 3 months.
Reach out to us for a chat for more information on our branding packages.