It is no question that branding is so important for your business, especially in 2020. The online marketplace has become increasingly more competitive as a result of COVID-19. Companies shifted from traditional to remote work environments overnight. Because of this, businesses quickly realized the need to establish an online presence. The underlying question is, what makes some companies thrive and others fail during a time of crisis?
Branding helps form connections and builds trust.
It is known that branding helps form connections and builds trust. When starting a business, the first thing to pop into mind is to design a logo. This has been even more apparent in 2020, where everyone is creating them left and right. While a logo is important, it is meaningless if you, as a business owner, cannot define who you are and what you represent.
The goal is to create an experience for customers, unlike none they have had before. You will learn that people tend to value the feeling associated with a brand rather than the graphic it represents. Therefore, it is critical to view your brand as your company’s most valuable asset.
Take, for example, Coca-Cola. Approximately 94% of the world’s population recognize the brand from their iconic red and white color scheme and logo. That is nearly every adult on this planet. However, it is not just the colors and logo that make Coca-Cola stand out. It is the fact that they have continually put their brand first and foremost. As a result, they have earned a global reputation and outstanding recognition for the past 128 years.
Ask yourself, can you think of any successful company that thanks the graphic of their logo for their success? The answer is no. Why? Because successful companies put a lot of time and effort into strategically developing a brand that resonates with their audience.
It is okay to be transparent.
In a digital age where competition is at an all-time high, it is crucial to showcase transparency. People understand that running a business is not an easy task, especially during a global pandemic. Therefore, if you are open and honest with your customers, they are more likely to remain loyal to your brand.
A study shows that during COVID-19, nearly half of all small businesses were in danger of failing. Many companies had to trial and error new business plans to stay afloat. However, the ones who expressed their hardships found support from their loyal customers. These brands showed that they were able to adapt to challenging situations. By continuing to offer their already valued products and services, they were able to make it out more robust and with a clear vision for the future.
Branding gives you a reputation.
Ultimately, branding gives you a reputation. But to keep up with your reputation, it is crucial to define who you are as a brand. A common misconception is that your brand strategy is your logo, name, and website. However, that is not the case whatsoever.
A brand strategy is a set of goals that can be achieved through the evolution of a successful brand. A well-defined strategy affects all aspects of your business. It directly correlates to your customers’ wants, needs, and desires. A properly executed strategy makes your company easily identifiable and separates you from the competition.
Think about Amazon this year. They posted their biggest profits ever during the peak of the pandemic. Why? Because of Amazon’s customer-centric approach to put the customer first. They stood by their mission and core values of the Amazon brand. While this may have caused controversy, they remain the world’s largest online retailer. There is something to be said for that.
The road ahead
The following will help you prepare for the road ahead.
- Do you have a clearly defined mission and core values? If so, did you uphold your mission and values during the pandemic? For example, check out or our mission and core values.
- Can you tell your brand story about what makes you unique? You must emphasize why customers should choose you over the competition.
- What is the primary concern for your customers? Take a look at what interests them.
- How do you define long-term success? Is it when you achieve pre-defined goals? Or do you have another way to measure?
Think of it this way, if you were to remove your logo, would your customers remain loyal to your brand? If the answer is yes, then great work. If not, let’s fix it. We are here to help guide you every step of the way. Remember, every brand has a story. It’s your time to share it. Get in touch with us today.