Elements of Successful Branding

Over the last year we have seen large scale rebranding by the likes of Woolworths (Safeway) & ANZ Bank as they have identified that their customer focus needed to change. Although these businesses spent millions on the rebranding processes it is possible for smaller businesses to achieve a similar result at a fraction of the cost.The most important concept to get your head around with branding is that your brand needs to be relevant to your customers. If the brand is no longer relevant  your choice as a business is to evolve and change your brand or sit back and watch your competitor’s eat away at your market share.

Here are a few simple branding tips:

  1. Your brand must be consistent. A change in name, colours, logo are all a good starting point but it certainly doesn’t stop there. All aspects of your business need to reflect your ‘brand identity’. Your customers and potential customers need to become familiar with that identity and that identity needs to reflect your business values or promise to customers.
  2. In a competitive market place there is no sense in creating a similar brand identity to your competitors. Think about your relative strengths or what is unique to your business and encapsulate this in your branding.
  3. With your marketing material you only have a potential customer’s attention for a few seconds before they decide to read further/listen to your message or move onto one of your competitors. Maximise this short window of opportunity by ensuring your name and/or tagline clearly spell out what you do and what you can do for them i.e. don’t confuse your potential customers with a name, tagline or images that are irrelevant to your business.
  4. Your promise to your customers needs to be consistent throughout your business and used in every instance where you interact with them. Consistent execution is vital to create a repetitive, clear message. Ensure all brand associations (all physical items that make up your brand) such as name, logo, colours, taglines, fonts, imagery, business cards, website etc reinforce your brand promise.

If you have some design skills and follow these simple tips you can create an instant and lasting impression on your market for very little outlay. My recommendation though is to seek the services of a qualified graphic designer and let them help you develop a great brand that will appeal and attract the type of customers you want.

Richard Kemp – Watts Price Accountants
E: richardk@wattsprice.com.au

The advice provided on this Article is general advice only. It has been prepared without taking into account your objectives, financial situation or needs.