What Is A Brand?
There are three ways to define ‘BRAND’.
First, a brand is a symbol or identification which makes a business unique and purely different from other competitors.
Second, a brand is a determining factor that shapes the perception, knowledge, or consciousness of the viewing public or the target consumers of the business.
Third, a brand is a platform to create the desired response from, gaining the confidence of, and deliver the expected output (whether through product or service) to the prospective customers.
Do I Need A Brand In My Business?
Every company in Singapore, however big or small, has already got a brand – even if it doesn’t make a proactive approach to treat it as a brand.
Your current patrons, previous consumers, and potential clients already have an idea, if not, a complete impression of what your business does and what it stands for.
Taking a proactive approach in treating your brand the way it should be treated and honing it to reflect your business vision, values, and standards can do any or all of the following:
✔Communicating your message more effectively to your prospective clients
✔ Helping targeted consumers to associate your business with their particular demands or specific needs
✔ Encouraging current customers to prove their loyalty to the brand
A well-crafted and cleverly conceptualized brand will provide you that winning edge against competitors – something your business can leverage especially if you are competing in a tough business environment.
If you operate in a fast moving sector or an already crowded marketplace, your specific brand is:
▶The inertia you need to move alongside, if not already ahead, of the main competitors in the industry
▶ The essential fuel that will drive your business towards reaching significant milestones and long-term financial success
▶ The spotlight that will provide clarity and assurance to your target consumers that you are more than just a business in a sea of comparable competitors
How Do I Create A Strong Brand?
- Clarify the main message, values or goals that your business want to convey to the public and assess if the operations can realistically deliver.
- Research on what your prospective consumers like or don’t like – and then improve your brand to provide them maximum satisfaction.
- Make an effort to understand the emotional responses of your current customers, employees, and even the non-participating public – as this will be the basis of your brand message.
- Find out the perceived quality of your product or service because this will be a significant indicator on how far your business can grow and succeed.
- Look on your competition – what they offer and how well they meet the needs or expectations of their customers – so you can use this information to establish your own key distinction and provide your target consumers exactly what your competitors have failed to do.
Once you have clearly determined your brand values, core competencies, and perceived quality, it is now easy to communicate your brand effectively to your prospective clients.
Sincerity and consistency in delivering your business’ promise proves the authenticity and quality of your brand which will be rewarded by confidence and loyalty of your customers. This will in turn establish a strong brand which will help to drive sales and secure the strong status of your brand.
A basic but key action to in creating a strong brand is by building the brand message into everything your target consumers is seeing and hearing even before they have any direct contact with your business.
It is also important to ensure that all company information reflects your brand message. Redesigning your company logo, tagline and even website will provide an immediate and crystal clear link to your brand message.
How Can I Manage My Brand Successfully?
A strong brand does not happen overnight – it takes time, conscious effort to hone, and plenty of teamwork.
- Keep all management leaders, staff workers, and even part-time employees INTERESTED and INVOLVED in your branding efforts.
- Monitor your past and current customers’ response, comments, and suggestions about the brand.
- Make a regular and continuous evaluation of the communication strategies used by your brand – if this is getting through the targeted consumers clearly and effectively.
- Do not take for granted the honest criticisms from unsatisfied clients, non-participating members of the public, and even from competitors as these can serve as useful lessons and helpful insights in shaping a stronger and a more successful brand.
- Make sure all sales literature, advertisement efforts, and marketing strategies are ALWAYS visually and emotionally consistent with the product or service offering so as to maintain customer’s satisfaction and loyalty which can also lead to widening your target audience base.
When you have learned the ropes of managing your brand successfully, it will seamlessly lead you to more favourable circumstances where your business can thrive and expand.
Caveat: NEVER stretch your brand too far that it dilutes the authenticity and quality of your product or service offering.
▶Make sure all products or services fit your brand message, values, and core competencies
▶If you have a new line-up of products or services that do not match your current brand message, values, and core competencies – take time to hone an entirely different brand for it
▶Always focus on your customers’ needs and expectations but don’t let it be the SOLE driving factor for your brand creation and management
Focus on building a Strong Brand while Corporate Services Singapore Handle All Company Secretarial Matters
A strong and successful brand is something that your business will have to pour a significant amount of resources, time, and efforts in.
But while you and your team focus on building a unique yet effective brand to reach your targeted consumers, who will take charge of all the remaining business details that are also as essential to ensure your company remains compliant?
Let Corporate Services Singapore be your ally in handling all the necessary support services of your business. From company incorporation to financial advisory services and corporate secretarial work, our trusted network of partners can confidently provide you with relevant business solutions to ensure its success.