Branding is a word that gets thrown around commonly in marketing discussions. Sure, you know you want to create an identity that your audience immediately associates with you, but do you know how to do it? How can you create a brand that consumers actually marry to for life? What follows is a list of 7 branding mistakes companies make that hold them back from creating memorable, lasting brands.
- Being a Me Too Brand- Just because you offer the same basic services as your competition doesn’t mean you should create the same brand as them. You can create a unique brand even if your product isn’t all that unique. Think about it—McDonalds and Burger King sell essentially the same products, but they have completely different brands. Burger King is all about flame broiled and having it your way. McDonalds has the familiar arches and the “I’m loving it” campaign. Consumers see them as the creators of fast food. It’s two completely different brand images, but both have been successful in the same field.
- Not Understanding Your Audience- You can’t please everybody. Too many companies try to target the world when they should just be targeting a tiny niche. You need to identify who your true target audience is. By getting to know them, you can create a brand that they can connect with. In the end, this is far more profitable than trying to be all things to all people.
- Not Knowing Your Strengths- Successful brands always play up their strengths. Dominos was successful because they could deliver your pizza in 30 minutes. FedEx became known as the company that could get your packages to you overnight. Figure out the strength of your company, and build your brand around that. (more…)