What is branding identity?
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Branding identity is the set of traits that define the values and mission of your business. Your company logos, product designs, and business ethics are all part of your brand.
Every time you use a product, you create your own perception of its brand. When customer perceptions align closely with brand identity, the company is doing a good job of appealing to its target market.
Benefits of a unique brand identity.
- Consumer loyalty.
- Market segmentation.
- Brand Consistency.
- Brand equity.
How to build a successful brand identity.
A brand identity requires further evaluation, because every marketing element and method needs to reinforce the key principles and objectives of your business. Involve your existing customers and employees in the process, as they can tell you with certainty where your brand identity and services are successful, and where they need improvement.
You can start with a SWOT analysis (Strengths, Weaknesses, Opportunities, Threats) to choose and identify your business niche.
Strengths:
Think about what you do better than your competitors. What advantages does this offer your business?
Weaknesses:
Think about the weaknesses that make your business less attractive than your competitors. (e.g. price, location, product, variety).
Opportunities:
Think about emerging industry trends or customer needs – are there opportunities to reach new markets?
Threats:
Assess the obstacles to business productivity. What factors threaten your ability to meet the demands of the future?
