You’re starting a new business because you see a need in the marketplace that you can meet or exceed. You have done your homework and had conversations with investors. You’ve examined the market and identified your target audience. You’ve gathered materials and possibly a few employees. And this is all done way before the serious money starts coming in. But have you thought about your brand identity?
Your brand identity goes way beyond a fancy, trade-marked logo on a website with well-written copy. Brand identity is at the core of who you are as a business. It’s a planned, consistent, and directed collection of efforts and communication to a particular audience to produce a favorable long-term result. At Riley & You, we use three words to help new companies define their brands:
- Your brand is a Promise. What are your promising to deliver to your clients? This is guided by your core values as a company. A strong brand identity helps customers know what they can expect from your company. It builds trust and loyalty as you keep your promises to your clients. The Harvard Business Review states that 64% of people cite shared values as the main reason they have a relationship with a brand. You need a brand identity that resonates with your target audience and clearly communicates what you promise to deliver.
- Personality is the way you express the promise. What is going to make your business different from your competitors? You need a brand identity that separates you from all the others. According to Google research, users are spending 6.48 seconds focusing on your logo before moving on within a website. This is why being able to communicate your promise and your personality quickly and concisely is vitally important. Eventually, you want to become not only the best brand, but the only brand that customers think of when they think of your product. Additionally, a strong brand identity can lead to unique co-branding opportunities that will continue to set your company apart from the others.
- Performance is the way you keep the promise. How does your brand translate into all parts of your company? Having a strong brand identity at the core of your company means that you realize that your people/employees are an extension of your brand. Once you define who you are as a business, you will know how to recruit and train new employees. Your promise/brand also determines how you recognize achievements, distribute benefits and ultimately how employees go about their work and interact with clients. Without a strong brand identity at the beginning, your company could flounder for several years before hitting its stride.
According to the Custom Content Council, 72% of marketers say branded content is more effective than advertising in a magazine, and 69% say it is superior to direct mail and PR. So before you start spending your money on advertising your new business, it’s probably wise to spend money developing a strong brand identity. Good branding also has a great impact on future growth. Google research suggests that you “invest in design – it’s what matters the most for pulling users in.”
If you are starting a company, chances are that you don’t have a graphic design or marketing department to help you create all the elements you will need for a strong brand. Let Riley & You be your marketing department until you are big enough to have your own. Our team of professionals has been creating strong brands for over ten years. They know what works and what doesn’t. They know how to ask you the right questions as you define your promise, create your personality and maintain performances that are consistent with your brand identity. Call us today to see how we can help you start your company with a strong brand identity.