Growing your business goes much beyond increasing its revenues and profits. The more vital aspect is building your reputation as a brand that consumers recognize and trust. It can make all the difference in consolidating a customer base that stays with your business and recommends it to others as well.
However, branding happens to be a complicated and elusive process for many companies. What you really wouldn’t want to do is to miss out on this opportunity just because you have some misconceptions about it. So here are the major branding myths debunked so that they don’t end up disrupting your business.
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5 Major Branding Myths Debunked
Myth #1: Your brand is all about your business
Rather than being just about your business, a brand is about your customers as well. The very reason why you are creating it is for selling your offerings to the target consumers. Obviously, the first thing you need to do as a part of the branding initiative is to know their pain points and expectations. If you think only about yourself, you will end up creating an identity that fails to connect with the people that matter.
Myth #2: A logo is synonymous with a brand
Logos do represent brands but they are not the only component that makes them. They are just a single element of a large ecosystem that includes product design, packaging, tone of voice, vision, and mission of the company.
In the real sense, branding is all about bringing consistency in customer experiences across all the selling channels so that buyers are able to recognize your business anywhere are everywhere.
Myth #3: Branding is just for the biggies
Traditionally, big players have had an edge in this context because they have the resources to set things in motion. But with the advent of digital media, the playing field has been flattened.
Experts at Mekanic, a professional branding agency state that blogging and social media are the best branding opportunities that small businesses can leverage. These tactics cost a fraction of the traditional means but deliver exemplary results.
Myth #4: New businesses don’t need to do it right away
Just because you are launching right now does not give you the reason to wait for putting a branding plan into action. Having a defined brand identity at this stage is a plus as it provides some sense of stability for your business.
There is a probability that you may connect with the potential buyers right from the first interactions. Further, you have better chances of standing apart in the competitive landscape.
Myth #5: Referrals and word-of-mouth is all that you need
Startups and small businesses run on tight budgets. Owners may want to believe that referrals and word-of-mouth can get them the momentum they need but this is one misconception that you should steer clear of.
These strategies worked in the past but you cannot expect them to give you results today. Tactics like social media marketing and influencer promotions are needed to take your business a step ahead.
Branding will definitely become easier if you take the right approach. Clearing these misconceptions means that half the work is done. The other half can be covered by collaborating with a professional agency that can help you create a winning strategy.