Most consumers don’t pay much attention to branding. They just simply adhere to the brand names that have become synonymous with their day to day lives, and thus many people greatly underestimate the power associated with an influential brand name. Have you ever purchased a product over another one of equal value, purely because it was from a more reputable company? If you’re purchasing habits are like mine, then the answer is yes.
What’s in a name?
Developing a unique and catchy brand name involves more than just merely picking a name out of a hat. A powerful brand name will evoke a positive set of emotions, and should inspire confidence in your particular product or service.
It’s also important to keep your brand name simple, because potential customers may have trouble remembering an overly complicated brand name. You also want your brand name to be unique. A distinctive brand name is what separates you from your competition. If your brand name is too similar to one of your competitors, people may confuse the two, leading to a decrease in sales/revenue.
Always communicate your brand identity to your target audience. Everything you say and do, from the way you answer the phone, to the way you format your emails should reflect your branding image. Utilize your color scheme and logo on all printed materials from letterheads to invoices. Your website should also reflect your companies branding image. It’s always important to constantly look for new ways to incorporate your company’s logo and color scheme. The more your potential customers are bombarded with your companies branding the more apt they are to continue their patronage.
Developing Brand Loyalty
Brand loyalty is an important aspect of any companies marketing efforts. Typically, your potential customers will have a choice of products or services within your industry segment, and a successful company will entice customers to re-buy a particular product or reuse a specific service.
Many companies develop brand loyalty by offering incentives such as coupons and frequent customers discounts. Also, another common technique utilized by many online companies is to gather information concerning their customers purchasing habits, to better tailor advertisements and future promotional endeavors.