Branding Your Company: Image Development for Beginners

Your company's brand is what defines it. In an increasingly crowded marketplace, it's imperative that your business stand out, and a well-conceived and developed identity could be just the thing that sets you apart from competitors. Your brand can also be one of your greatest financial assets,as in the case of Coca-Cola, whose brand is worth approximately $67 billion, according to Interbrand's report "The Best Global Brands by Value 2006." That's over half the company's $110 billion market capitalization.

But what goes into creating a brand? (or "branding," as the process is usually called.) Is it just a matter of coming up with a catchy slogan, or putting together a colorful logo? No. In fact, those things by themselves won't take you very far. True branding requires research, development, and consistency--in how the brand is presented to potential customers, and in how it's represented by the company's employees. It's not an exact science, however, which has made it difficult for many companies to grasp.

Why You Need a Brand

Most companies operate without a clearly defined brand--and that's exactly why yours should have one. If you don't create your own identity, the marketplace will attach one to you, and it may not be one you like.

Where To Begin

Branding begins with intensive research, which includes identifying the target market's core beliefs, and discovering how this group already perceives the company. It may be that the image others have of your company is not at all what you wish to portray; in this case, you'll need to undertake a complete overhaul of your image, which is difficult. In many cases, however, you only need to strengthen existing perceptions: if your business is known for always being on time, make that a key element, so that more customers will know of the benefit you provide. As part of this initial research, you also need to identify a position in the marketplace that only you can occupy. You may be able to market traits similar to those promoted by other companies, but it will much easier to create an association in the minds of consumers if you choose a position that's not already claimed.

The All-Important "USP."

If you do identify a position that only your company can occupy, you can use this to formulate your "unique selling proposition," or USP. Your USP distinguishes you from your competitors, by clearly explaining what you offer that they don't. In fact, the USP is the very essence of your brand identity--it's the one thing you consistently do well, and that no one else offers.

Be Emotional

While logic, analysis, and methodical research are important parts of creating a brand, emotion is equally important when you're trying to connect with potential customers. Branding is tied to the emotions, and includes more than just colors and words; it can also involve sounds, smells, or tastes. If you're a restaurant, you may focus on the smell of freshly cooked bread, which diners notice immediately upon entering your establishment.

Be Consistent

This is the true test of a successful brand: are you consistent in your presentation? You may have the wittiest, cleverest, most memorable brand identity out there, but if you aren't consistent in how you portray it, it will never catch on in the minds of your audience. And, every employee in your company must consistently represent your chosen identity. If your company promotes itself as being friendly and approachable, but customers can never reach anyone at customer service, or if your representatives are rude, you'll lose that connection to the customer that you've invested so much time and energy in creating.