The term brand name is a very misunderstood one by many, unfortunately, business owners as well. Majority of people believe that brand is your company’s logo or products and that brand is created by providing a unique product or service. Truth is that none of these represent your company’s brand. Logo is just a logotype to distinguish your business from others, although the power of it once the brand is built is very strong. Providing different products or services can only help you differentiate for a very short period of time nowadays. Changes take place very fast, especially in the technology industry and your ideas and products can be copied within few days and be sold at much lower price.
So what is brand? Brand is the gut feeling of a customer about your business, how he/she perceives your business, what your business stands for within his/her mind. Do you stand for low prices? Do you stand for excellent customer support? For the past 6 years I have being cooperating with TotalServersolutions.com, a team of very dedicated professionals managing large server networks. I feel safe any time the server crashes because I know they will be there for me within 1 minute I open a ticket. They are positioned in mind as the most trusted partners for keeping my network up and they will never let me down.
So how do you start building a strong brand name? Building a strong brand name takes time. No brand is built overnight, it is just impossible. It may take years for consumers to position your business within their mind as their only choice for a product or service.
First and most importantly, decide what you want to be known for. Select a market niche and focus on it. Do not try to satisfy needs for a very broad market because the chances of doing well will be very few. For instance, a new electronics e-retailer decided to focus on meeting the needs of consumers interested on LCD televisions only and provide free repair for 1 year after purchase. In other words, it wants to be the first choice in consumers’ mind once they decide to buy a new LCD tv.
Second, every interaction with your company is very vital towards becoming a trusted brand name. Very basic interactions, such as contacting customer support or asking for assistance play key role in how your customers perceive your business. Solving consumers’ needs is the key to transform them to brand ambassadors.
Third, keep your promises and take full responsibility when needed. The best secret to destroy your brand is to not deliver what you promise. There is a chance that your customers will forgive you once but you may not have second chance. Accept the mistake and apologize, this will give huge credit to your brand. Hence, before you decide what you want to be known for make sure you can deliver that.
Last but certainly not least, the brand is not built by the CEO or the board of directors, they certainly set the path towards that but it is not them that come in contact with the customers. Every single person within your business needs to be aligned with your brand policies and every single of them is responsible for the brand success or failure. Teach your employees how to behave, help them grow themselves and satisfy their professional dreams within your business and be sure that they will love your brand. There is no better advertising than loyal and satisfied employees. They are your key brand ambassador.