A good brand is the key to the success of a business. One has to be very keen and strategic when setting up their brand. In this article, we are going to take a look at some common branding mistakes.
Define the Brand Strategy
Most people do not define the brand strategy first, which includes understanding how the business will work, the competition and the strategies that they are employing. It is important to understand the objectives of the business since the brand is not just about the logo. You need to focus on the vision of the business and the experience of the customers.
Cheap Brand Identities
When most people are starting off, they go for cheap branding, including logo designs. Some even go online and search for cheap logos. The truth is that getting quality branding is costly but helpful to the business in the long run. You need to get a designer who will understand the business objective to do it.
Differentiate the Brand
Many people fail to differentiate their brands. The truth is that there is so much competition out there and people have to ensure that their brands are good looking and unique. It should stand out and differentiate itself from other brands.
The Right Audience
Many brands connect with the wrong audience. Remember, when branding, it is not about what you like, but what is good for the business. This is the mistake that most people make when branding their businesses, and it leads to the wrong audience. When targeting your audience there are some things you need to know about them:
- What are their demographics? Where they are.
- What their age bracket is
- What they do and their average income
- What their needs are
With that information, you can personalize your logo to them.
Brand Extension
Despite the fact that it has become popular, people are stretching their brands too far and this can easily backfire on the business. An example of brand extension is the Virgin brand:
- Virgin Atlantic
- Virgin Holidays
- Virgin Money
- Virgin Casino
- Virgin Records
The list is endless. Before you go on that route, you need to have done your due diligence or you could end up in the gutter.
Prince2 Training
One of the best ways to understand how to run your business is through training. In this part of the article, we are going to talk about Prince2 Training. Prince2 Training offers busy business people the opportunity to train over the weekends in their programs. They have the 2-day Prince2 Foundation course which trains project managers over the weekend. There is also the 2-day Prince2 Practitioner which trains project management. It is trained after one has completed the Prince2 Foundation course. Lastly, there is the Prince2 Foundation & Practitioner, a 4-day course which happens over the course of 2 weekends.
Summary
Before starting a business, it is important to get some basic training so that you better know how to run it. You can then come up with the concept of your brand and set up your business. You can use the tips mentioned in this article to create your brand.