What is Brand Development?
Brand development is a process of creating a business or creating a brand for a business, don’t confuse it, these are two different realities. This is how it is, when you have no business, you create a brand, make it successful so you can start making money when you actually start getting sales, customers, and more conversions you build a business around it.
A successful business can launch multiple brands under separate names, separate identities, can offer the same solution or product, or be a part of the same product line, it can also be a brand for a completely different industry. All you need to do is, understand what really brand development is!
It takes dedication, persistence, hard work, patience, and consistency in delivering the right service or product to your customers, no matter how hard it gets. There are many misconceptions about building a brand or business. There are no shortcuts!
We have often heard people talk about how important brand development is for the business. If you are one of those people who are still wondering what brand development is, then do not worry. We are here for you.
Brand development is the strategic process that allows you to make and distinguish the image of your company from the competitors. It consists of aligning the brand with the objectives you have set for your business and ensuring that your brand reaches the target audience. It also involves updating your brand as the need arises.
There are no set criteria that you can follow when it comes to brand development. It is an ongoing process. There are a few steps; however, you will have to visit the brand development now and then for an effective brand development strategy.
The brand development process
Measure, evaluate and adjust
Branding vs. Brand Development
Do not confuse brand development with branding. Just like we plan and then execute, the relationship between brand development and branding is similar to that. You will have to keep on developing the brand if you want to keep reaching your customers. When you stop investing your time and energy in brand development, you will start losing your customers.
Steps to Developing a Brand
Before we dive into the five steps, it is crucial for you to know how vital brand market research is. Brand market research will tell you what attracts customers towards your brand. It will also enable you to understand how to connect with your customers in the best possible way. You can start this by asking some questions such as:
- What is the personality of my brand?
- Who are my competitors?
- How can I be different from my competitors?
- How do I make my clients feel?
- Do my customers trust me?
After this, you will move to the steps of brand development, which are as follows:
- Identifying the target audience
- Positioning the business and products
- Creating a brand personality
- Making the logo, slogan and website
- Tracking the progress
1. Identifying the Target Audience
The first step is reaching the target audience so that you can target your content towards them. To do so, you should:
- Know who is more likely to buy your products and services – Make demographics as it will allow you to know who will be interested in buying your products and services. For instance, if your product is sportswear, then your audience will be athletes and gym trainers.
- Make use of available data and stats – This will tell you about the shopping habits of many consumers, which will show who already uses the products that you are selling.
- Study your competitors – See how they plan their targeted marketing campaigns and then compare them with similar companies.
Knowing your target audience will allow you to develop a brand that attracts your target audience.
2. Positioning the Business and Products
- Gather all the information that you can, including marketing strategies and shortcomings.
- Make a different selling proposition.
- Make a unique USP that will tell them about your product’s features to the clients.
- Only write what you can deliver in your positioning statement.
3. Creating a Brand Personality
- Using the words according to the type of your company.
- Associating it with an idea or any image that is the best for it
This will give your company a voice of its own, which is essential for developing a messaging strategy for your customers.
4. Making the Logo, Slogan and Website
- Logo – It is the sign for your business that will show the personality and image of your brand. It should reflect your brand.
- Slogan – It is the short and catchy phrase that your brand has of its own, which shows what you are selling.
- Website – A Website will show your products and services. Your clients will be able to see what you do basically.
After this, you can move on to creating content and brand awareness of your brand.
5. Tracking the Progress
- Is your strategy being implemented the way it was planned?
- The number of employee applications, new leads, as well as opportunities of partnering, which were generated?
- What are the objective measures telling, like the web visitors, search traffic, etc.?
By doing this, you will be able to draw conclusions and then make right adjustments if needed.