By Arina Smith
Consistent brand presentation increases revenue by up to 23%. With numbers like that, establishing a killer brand should be at the top of your entrepreneurial to-do list. But with so many branding tips making the rounds, how can you know which ones to take on board?
Well, don’t worry – we’ve distilled the process for you. Here are 3 of the best branding tips to help you give your luxury watch company an identity.
1. Define Your Business:
A great brand reflects the company behind it. In order to define a strong brand, you must know who you are, what you do, and what sets you apart from your competition.
Ask yourself:
- What’s your company’s mission statement?
- What makes your product worth buying?
- What do your customers currently think about your business?
- What qualities do you want to be associated with your company?
The answer to these questions will be the jumping-off point of your branding strategy. They’ll help you understand your business and, in turn, help you develop a strong brand identity.
2. Understand Your Target Audience:
Brands don’t just reflect companies, they also reflect the wants and expectations of their target audience. You want a brand that will speak to potential customers. To do that, you need to understand who those customers are.
Start by looking at your current customers. Ask yourself:
- Who are they?
- What do they do for work?
- How much do they earn?
- Do they have family or are they single?
- What do they do for hobbies?
These questions will help you develop customer personas. Customer personas are a marketing tool that helps you better target your brand and marketing efforts to your intended audience. They act as stand-ins for who you want to buy your products. They let you better target different demographics and help you understand the people behind your sales funnel.
Once you have an understanding of your target audience you’ll be able to tailor your brand to speak directly to them.
3. Establish Brand Guidelines:
The key to a good brand is consistency. This means consistency of quality and consistency of your brand. Every successful brand has very strict rules about how they’re represented across assets and channels. Apple has very clear rules about how and when their logo is to be used, for instance, while Omega had a say in how the first watch on the moon was to be depicted.
These rules are collectively called brand guidelines. Once you’ve defined your brand, established a logo, and settled on a name, brand guidelines should be the next item on your list.
Brand guidelines are what lend brands essential consistency. They ensure the impression of your company is kept under your control and lend your business credibility to boot.
Take These Branding Tips On Board:
These branding tips and tricks are the best way to ensure your brand is pulling its weight. By defining your business, understanding your target audience, and establishing consistent brand guidelines, you’ll be well on your way to establishing a successful brand.
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